Daily NAPTA Update 1.20.2023

Posted by Diane Macri | Jan 20, 2023


Office space, not wanted
The commercial real estate market isn't doing so hot, particularly when it comes to office space, according to the Federal Reserve's Beige Book report out yesterday. Why it matters: Commercial real estate demand was crushed by the pandemic and hasn't really recovered, Emily writes.


AZ bill could wipe out property taxes, but not for reverse borrowers
Reverse Mortgage Daily
Rep. Rachel Jones (R), a member of the Arizona legislature, has introduced a bill that, if passed, would eliminate property taxes for homeowners whose mortgages are paid in full. If the bill is successful, though, it may require reverse mortgage borrowers in Arizona to pay more in taxes, according to an interview with the lawmaker and details of the proposed bill published by Tucson.com.


Iowa Property Tax Reform Plan Misses the Mark
Tax Foundation
On the heels of adopting one of the most comprehensive state tax reform packages in years, Iowa lawmakers are back in Des Moines with property tax relief in their sights. But while the issue is worthy of their attention, House File 1 (HF 1) as currently drafted misses the mark.


Bill to cut business equipment taxes passes committee vote
A bill that seeks to cut taxes on business equipment passed an initial vote in the House Finance Committee on Thursday. House Bill 212, sponsored by Rep. Josh Kassmier, R-Fort Benton, would expand Montana's business equipment tax exemption from $300,000 to $1 million. 


Bill would freeze property taxes for owners 65 or over
North Dakota property owners who are over the age of 65 would qualify for a property tax freeze under a bill aired before a Senate Committee this week. Bill author Sen. Curt Kruen of Grand Forks said it's another way to help keep more seniors in their home upon retirement.


Freeport starts the year with 15% property tax hike, first in more than a decade
Freeport is starting 2023 with a 15% hike in real estate taxes. The owner of a home assessed at $40,000 will pay $80 more in borough real estate taxes, from $520 in 2022 to $600 in 2023, borough officials said.


Dallas Central Appraisal District Website is Up And Running Following November Ransomware Attack
Following more than two months of uncertainty in the wake of a ransomware attack, the Dallas Central Appraisal District website is back up and running. The November hack rocked the real estate community and property owners trying to gather information for tax protests and homestead exemptions. The deadline to pay property taxes is Jan. 31.

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