Work-from-Home Trend Leads to Property Tax Turmoil in Office Sector
Of all the property types, office buildings may wrestle with the pandemic's damaging consequences the longest. The fallout from COVID-19 will clearly have a lasting economic impact. During the government-mandated shutdowns, businesses — including brick-and-mortar retail stores, restaurants, movie theaters and gyms — suffered tremendous losses.
Brevard County tax breaks for Rogue Valley in Palm Bay fall through
The courtship between the county government and a high-tech semiconductor firm ended with a whimper this week after the Brevard County Commission voted 3-2 against hefty property tax breaks for the company. The Oregon-based high-tech company Rogue Valley Microdevices Inc. is looking to expand its operations to Palm Bay, and has been seeking property tax breaks from Brevard County and the city of Palm Bay as an incentive to locate there.
City Council increases property tax refund to $2.5 million for FlexCold warehouse
Jax Daily Record
The Jacksonville City Council increased a property tax refund to $2.5 million for cold storage warehouse FlexCold LLC as it expands its North Jacksonville facility. The Council voted 17-1 on Jan. 24 to approve Resolution 2023-0015 that includes the Recapture Enhanced Value Grant, a property tax refund, on what is expected to be a $115 million, 346,000-square-foot facility at 11180 Blasius Road.
Fla. Legislature to Consider Major Housing Bill
In breaking news on the Florida legislative front, Florida Senate President Kathleen Passidomo unveiled her comprehensive legislative approach to addressing Florida's affordable housing crisis, Senate Bill 102. The bill will be considered during the 2023 session of the Florida Legislature. To become law, it must be passed by the House and the Senate and signed by Gov. Ron DeSantis.
Iowa's Rush to Fix Error May Cost Its Cities Millions
A rush is on in the Iowa Legislature to fix an oversight resulting from a previously passed property tax reform package that could mean potentially millions of dollars in lost revenue in the coming months for some Iowa cities.
Some nonprofits give to Rockport, most do not
Knox County VillageSoup
Tax exempt nonprofits that voluntarily give money to help fund police, fire and other town services believe it is the right and fair thing to do. But many of Rockport's nonprofits give no funds in lieu of property taxes — called PILOTs, or payments in lieu of taxes — to help defray the costs of public service they use.
Great Barrington is looking at tax breaks for those who rent at affordable rates. Provincetown is already doing it
If town voters agree to it, residents could get a break on their real estate taxes if they choose to offer year-round affordable rentals at a portion of their property. While it isn't clear how an affordable housing rental exemption might work in Great Barrington, Provincetown has been doing it since 2004. It provides an example of how to calculate the exemption based on how much square footage of a home or apartment is being rented.
Ed Gainey says review of tax-exempt properties is about fairness
On Tuesday, Pittsburgh Mayor Ed Gainey issued an executive order to begin a citywide review of properties held by nonprofits, excluding religious institutions, to determine whether they should be added to the tax rolls. Nonprofits will be assessed with a five-prong test established by the state to determine if they are a “purely public charity.” Those that pass can continue to have tax-exempt properties.
UCAD directors at impasse over security
Uvalde Leader News
For the second time, the board has bowed out of making a decision on spending approximately $12,000 for building access controls which would allow for an automatic lockdown during an emergency, because directors disagree on their necessity. The expenditure was first discussed in October and again on Jan. 17, and was tabled on both occasions.
Warren County real estate values up a 'shocking' 42%
Most Warren County real estate owners can blame — or thank — a robust housing market for their higher property values. Residential property values increased an average 42% in Warren County over the last five years, according to Pearson's Appraisal Service Inc., the firm contracted to conduct the latest reassessments.