Daily NAPTA Update 1.30.2023

Posted by Diane Macri | Jan 30, 2023


County of Stettler formally writes off over $4 million in Trident Exploration unpaid taxes
Yahoo News
The County of Stettler formally wrote off over $4 million in unpaid property taxes owed by defunct oil and gas company Trident Exploration but councillors were not very happy about the situation. The resolution to write off the taxes was made at the Jan. 11 regular meeting of council.


Housing market wakes from the dead
The housing market is showing signs of life after veering into a dead zone late last year, Emily writes. Why it matters: These green shoots are a good sign for the economy overall and run counter to some of the dire predictions made last fall when mortgage rates were skyrocketing. 


Honolulu Homeowners Are Shocked At New Property Tax Bills. Here's Something That Could Help
Civil Beat
When Andria Tupola first heard of a policy designed to prevent property taxes from spiking sharply when property assessments rise, she filed the idea in her head as an interesting concept not related to her job at the time.


Bill introduced to reduce how many tax benefits data centers can take at once in Idaho. It might affect Meta and Kuna
Rep. John Gannon, D-Boise, is looking to reduce how many tax benefits data centers can take. Currently, the only data center in Idaho is planned to be located in Kuna. The giant facility will house information technology (IT) for Meta, the parent company for Facebook, Instagram, and other media properties.


Indiana tax cap bill could give homeowners temporary relief, hurt schools
Property owners could get temporary tax relief under a top Indiana lawmaker's bill that seeks to stymie the effects of high assessments last spring. A new study projects homeowners' bills payable this year could increase as much as 15%. That's more than double what previous reports estimated for the upcoming bills.


Rye Country Day School gets tax exemption for off-campus faculty housing
West Fair Online
An appellate court has ruled that Rye Country Day School is exempt from property taxes on off-campus faculty housing. A panel of four Second Appellate Division judges decided on Jan. 25 that a Westchester Supreme Court justice erred when he upheld a decision by City of Rye officials who denied tax-exempt status for six townhouses on New Street.


Taxes could go up the most for lower-value properties after Mecklenburg County revaluation
WFAE 90.7
Most property owners across Mecklenburg County will see a big jump in their tax bills after the revaluation this year. But the heaviest burden could fall on owners of lower-priced homes. On average, county staff told commissioners at their budget retreat Friday that home values doubled over the past four years in historically lower income neighborhoods east, west and north of uptown.


Union Co. auditor says there have been more property tax appeals in 2023 than at same time last year
Andrea Weaver, elected Union County auditor, said there have been more appeals now than this time last year, but still not a notable amount. "Keep in mind the filing window is the same every year in all 88 counties. It's Jan. 1 through March 31 of every year, so people still have another two months that they can file. So we typically get the larger amount of filings coming closer to that deadline."


Philly's Older Suburban Offices Are Emptying Slowly, Probably For Good
Despite Philly's insulation from extreme economic swings, its suburban office market is particularly vulnerable to the flight to quality. Office buildings in the Pennsylvania suburbs are older on average than in Center City, a particular problem in a market that virtually never develops new office space that isn't build-to-suit.


Texas businesses pay 14th highest amount in taxes compared to other states
While Texas doesn't have a corporate income tax, most businesses pay taxes and at a higher rate than other states, a new report published by The Texas Taxpayers and Research Association (TTARA) states. In “The Partial Myth of Texas as a Low Tax State,” the nonpartisan nonprofit organization explains, “Texas is a low tax state for individuals and a high tax state for most businesses.”


Animals, Brewers And Farmers Can Fill Vacant Office Space With New Arlington Zoning Change
Arlington, Virginia, has millions of square feet of empty offices, and now building owners have a new way to quickly convert their vacant spaces into a wide range of uses. Zoning changes approved Saturday would allow by-right conversions to several types of uses, including animal boarding facilities, urban farms, colleges and universities, breweries and distilleries, and artisan workshops.

Invesco Sells Arlington LEED Platinum Office Building For 34% Less Than It Paid
Atlanta-based Invesco Advisors sold a 10-year-old office building in Arlington for $30M less than its previous price, an indication of how the office market has weakened. The firm sold the 134K SF building at 1776 Wilson Blvd. — Arlington's first LEED Platinum building — to an affiliate of Oaktree Capital in October for $59.5M, property records show. Invesco bought the building for $90.3M in 2014.

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