Daily NAPTA Update 1.25.2023

Posted by Diane Macri | Jan 25, 2023


Vancouver approves property tax exemption on waterfront apartment complex
The Columbian
The Vancouver City Council unanimously approved a multifamily property tax exemption Monday night for an under-construction apartment complex on The Waterfront Vancouver's Block 19. The exemption is intended to spur the development of affordable housing.


Who's Buying Old Offices? Bargain Hunters Who Have Been 'Waiting For This Day'
Office buildings are at the bottom of the list of real estate assets most investors want to buy. But as prices fall, there is a brave minority of buyers putting millions behind the belief that office demand will one day return on a large scale. Boyd Simpson is one of these contrarian investors. 


Arizona lawmakers seek to make crypto a tax-exempt property
Coin Telegraph
In legislation introduced in the first session of the Arizona State Senate in 2023, Senators proposed having Arizona residents decide on amending the state's constitution in regard to property taxes. Should the measure pass the legislature, voters could choose in November 2024 to make virtual currency — specifically tokens that are not “a representation of the United States dollar or a foreign currency” — tax-exempt.


Meta Giving Up 435K SF In Downtown San Francisco
Facebook's parent company, Meta, plans to list for sublease its 435K SF office at 181 Fremont St. in San Francisco following an announcement late last year that it would lay off 11,000 employees. The company has said it will retain its 755K SF office at 250 Howard St. The move is the latest blow to San Francisco's depressed office market, which hit a 32% availability rate by the end of 2022. 


Owners of houses worth more than $2.1M would pay the tax
CT Insider
The mansion tax is back – pitched once again by the Senate leader and longtime captain of tax progressives in the General Assembly, Sen. Martin Looney. Never mind that Looney, the New Haven Democrat and president pro-tempore of the Senate, saw his 2021 house-tax proposal die under withering attacks from the center and the right.


Former Board of Review worker who took bribes for tax breaks gets 3 months behind bars
Chicago Sun-Times
The photograph could have come straight out of a movie about old-school, Chicago-style corruption: A veteran employee of the Cook County Board of Review, thumbing through a pile of cash he had purportedly taken as a bribe to help lower someone's property taxes.


Gainey examining Pittsburgh's nonprofit property tax exemptions
90.5 WESA
Pittsburgh Mayor Ed Gainey's administration is launching a citywide review of tax-exempt properties to determine whether they should be added to the tax rolls — marking another chapter in a years-long struggle by multiple mayors to capture revenue from property owners that include the state's largest employer.


US Nitrogen Property To Go On County Tax Rolls
US Nitrogen should soon be on the Greene County property tax rolls. Sixteen parcels of land where the Midway facility is located will be conveyed to US Nitrogen by the Greeneville-Greene County Industrial Development Board. On Jan. 1, 2013, the property was conveyed from US Nitrogen to the IDB as part of a tax abatement program agreed upon before the company located in Greene County.

About the Author

Experienced Attorneys. Specialized Expertise

We are proud of our NAPTA network of property tax attorneys who have made our membership a trusted source of expertise.