Daily NAPTA Update 12.14.2023

Posted by Diane Macri | Dec 14, 2023

Meet your new landlord: Google

Business Insider

The digital renderings of North Bayshore, a massive proposed development in Mountain View, California, are crowded with glistening buildings and cheerful, animated pedestrians. There's a lot to show off, including 7,000 new homes, three distinct neighborhoods, and nearly 300,000 square feet of retail and community space. Notably, though, the gleaming images don't bear any hints of the company behind the whole endeavor: Google.

The 'tide turns' in the housing market as asking rents fall by the most in nearly 4 years

Business Insider

The rental market may finally be shifting in favor of prospective tenants, as better deals are on the rise. "The tide turns for renters," Redfin said in the title of its latest report, which found that US median asking rent dropped 2.1% in November from a year ago. This marked the largest annual decline since February 2020, it added. Climbing rent prices have been a broad theme since the boom of remote work, only to be made worse by a shortage in housing supply — an issue faced by both homebuyers and potential renters.

Court approves $180 million property tax cut for 49ers in Levi's Stadium dispute

SF Chronicle

Santa Clara County judge has approved a property tax cut of $180 million for the San Francisco 49ers over the 30 years remaining on their lease at Levi's Stadium, court records show. In a ruling last month, Superior Court Judge Helen Williams rejected a lawsuit filed by Santa Clara County Assessor Lawrence Stone challenging the taxable value of the stadium as set by an assessment appeals board in 2019. 

Value of urban Oahu properties increases

Honolulu Star-Advertiser

While the overall assessed value of taxable properties on Oahu for 2024 didn't skyrocket as it did a year ago, the city says the assessed value of homes in some parts of urban Honolulu are up by as much as 5%. While the overall assessed value of taxable properties on Oahu for 2024 didn't skyrocket as it did a year ago, the city says the assessed value of homes in some parts of urban Honolulu are up by as much as 5%. 

Kansas Star Successfully Appeals Property Tax Assessment


The Kansas Star Casino in Mulvane is due a refund of more than $19 million in property taxes after a state court recently ruled the resort overpaid dating back to 2014.Owned and operated by Boyd Gaming, the casino has been appealing its assessed property valuation annually since 2014. The Sumner County Assessor assessed the destination casino at a value of $225 million when it opened in 2012. 

New Orleans Hotel Associated With WWII Museum Found Tax-Exempt

Bloomberg Tax

New Orleans must refund property taxes a hotel paid because its close connection to the National World War II Museum entitles it to tax-exempt status, the Louisiana Board of Tax Appeals ruled Wednesday. The Higgins Hotel—named after the boatbuilder who designed the landing craft used at D-Day—paid over half a million dollars in personal and real property taxes for 2022. 

Thomas E. Towe: There is an easy fix

Billings Gazette

The median property tax increase for home owners went up 21% this year. According a recent study by the Montana Free Press (MTFP), that means 50% of all Montana had between $98 and $660 increase on the property taxes for their home. For 25% of homeowners it will be more than $660. In Bozeman's Gallatin County, most residential owners will pay between $579 and $1,266 per year more. 

Beleaguered Houston REIT Sells Another Dallas Office Building Amid Bankruptcy Proceedings


A Dallas-based investor will pay $12.5M for Westway One at 1707 Market Place Blvd. in Irving. The 170K SF building was most recently valued at $20.6M. “I believe that the debtor is unlikely to receive a higher or better offer, the purchase agreement represents the best offer obtainable at this time and under current market conditions,” Hartman SPE President David Wheeler said in a bankruptcy court filing.

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