Daily NAPTA Update 12.13.22

Posted by Diane Macri | Dec 13, 2022


Starting to Be Housing Bust 2 for Homebuilders & New Single-Family Houses
Wolf Street
If a homebuilder cannot sell their ballooning inventory of unsold new houses to households, at current prices and mortgage rates, amid plunging sales and soaring cancellation rates of signed contracts – topping out at 45% in the Southwest and at 38% in Texas – despite aggressive incentives such as mortgage-rate buydowns to stimulate sales and prevent cancellations, well, whom are homebuilders supposed to sell those houses to?


Possible property taxes on solar projects could impact status of Adair County solar farm
A tax force in Missouri is trying to determine how local governments can tax solar energy projects. This comes after the Missouri Supreme Court struck down a 2013 state law granting property tax exemption on such projects. The court made this ruling due to it not being allowed under the state's constitution.


Properties impacted by noxious Swan Lake smell granted devaluation by Washoe assessor
Residents surrounding Swan Lake who've been suffering from a noxious odor have been granted a property devolution by the Washoe County Assessors office. Following an assessment in response to community concerns, Assessor Mike Clark approved a downward adjustment of 10% on properties of those affected in Lemmon Valley and near the lake.


Cincinnati Council ends longstanding property tax rollback, increasing the rate for 2024
Cincinnati officials are ending a policy that has capped property tax revenue at about $29 million for over 20 years. Council's Budget and Finance Committee voted 6-2 Monday to raise the property tax rate from 4.84 mills to 6.1 mills for calendar year 2024. That will bring in an extra $7 million for the next fiscal year budget, which Council will establish next June.


Travis Central Appraisal District restores services one week after ransomware attack
CBS News
One week after being hit with a ransomware attack, the Travis Central Appraisal District (TCAD) says its customer services to property owners have been restored. TCAD said its phone service and online chat are back online after the December 5th attack. Property owners who need assistance can now contact the District's customer service department via both methods during normal business hours.

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