Commercial real estate's biggest investors are spending hundreds of millions of dollars on the grittiest land in America. Here's why.
The nine-acre truck depot in Kearny, New Jersey, wouldn't appear to fit anyone's definition of prime real estate. The site is surrounded by a tangle of major highways that are often clogged with traffic, abuts a rail yard packed with clattering freight cars, and is just down the street from one of the most polluted landfills on the northern New Jersey waterfront.
Alaska Senate hastily withdraws bill pushed by single producer to cut oil and gas taxes
The Alaska Senate has hastily withdrawn a bill that would have rewritten how oil and gas property taxes are assessed, after it was revealed a single Cook Inlet gas producer was behind the legislative effort.
Proposed Arizona Senate bills could provide property tax relief for job creators
The NFIB and some small business owners are urging Arizona lawmakers to support Senate bill 1263 and Senate bill 1276 — two bills designed to provide property tax relief for job creators across the Valley.
Lawmakers search for short-term solutions ahead of predicted property tax spike
Last year, as home values skyrocketed, state lawmakers provided some short-term relief by dropping the residential property tax rate for 2023 from 7.15% to 6.77% and the assessment rate for commercial properties from 29% to 27.9%. Those rates will increase slightly in 2024.
Proposals presented to eliminate property tax exemptions for some hospitals or associated buildings
Rep. Josh Tanner, R-Eagle, is proposing two different options that may remove tax exemptions for nonprofit hospitals in an effort to reduce property tax levy rates. Other properties that can be exempt from property taxes include churches and nonprofit charitable organizations.
Competing property tax relief bill using sales tax revenue introduced in Idaho Senate
Idaho Capital Sun
The Senate Local Government and Taxation Committee introduced a bill Thursday to address rising property taxes in Idaho by dedicating 4.5% of the state's annual sales tax revenue to homeowners for property tax relief on a primary residence. The bill, which has not yet received a bill number, is sponsored by Sen. C. Scott Grow, R-Eagle.
Assessor's Office Resets the Values of 559 Commercial Properties in Chicago
Cook County Assessor's Office
This action will reset the values of these properties to their 2021 values. In doing so, the Assessor's Office offers the Cook County Board of Review (Board of Review) an opportunity to verify these assessments which would otherwise not be reviewed again until 2024 when properties are reassessed in the City of Chicago.
Some business owners are concerned about LB 685 that would increase their taxes
Some business owners are concerned about a proposed bill in the Nebraska Legislature, LB 685. The bill was introduced by State Sen. Tom Briese (District 41). It would change provisions relating to the mechanical amusement devices, such as games of skill and coin-operated devices that can be found in businesses such as restaurants, bars, convenience stores and more.
Upstate NY town assessor used hidden camera to eavesdrop on employees, troopers say
A town assessor from Herkimer County used a hidden camera to eavesdrop on employees, state troopers said. Justin D. Masters, 47, of Old Forge, was charged recently with one count of eavesdropping, said Trooper Jack Keller, a state police spokesman. Masters placed the camera in town of Webb offices in the fall 2022, according to a felony complaint filed in Webb town court.
Amazon buying nearly 400 acres for $116 million in Licking County near Intel site
Amazon is buying hundreds of acres of more land in Licking County. According to Licking County Auditor records, Amazon Data Services Inc. bought 392.11 acres of land on the west side of Beech Road and straddling Miller Road on January 17, 2023. The transaction for the most recent purchases totaled $116,653,320.
Pennsylvania's underfunded schools violate students' rights, court rules
The Washington Post
A state court judge ruled Tuesday that some of Pennsylvania's schools are so underfunded that they violate students' constitutional right to an education, a ruling that could force the state to change how it allocates money to schools.
Property Tax Compression: Growing the State Share Without Improving School Funding
The Texas Constitution declares the mission of our public education system ‘is to ensure that all Texas children have access to a quality education that enables them to achieve their potential and fully participate now and in the future in the social, economic, and educational opportunities of our state and nation.' Texans of all backgrounds value public education and strive to unlock its promises of opportunity and shared prosperity.
Lower property taxes top priority for Texas Freedom Caucus
The Texas Freedom Caucus unveiled its top 10 priorities for the 88th Legislative Session Wednesday. Chief among them is reducing property taxes. State Rep. Matt Schaefer, R-Tyler, chairman of the caucus, was joined by several other Republican representatives as they highlighted priorities they said reflect what is important to their constituents.
Polk County has one of the highest median property taxes in U.S.
If Polk County is where you stay, property tax bills show you better be prepared to pay. Property taxes are a primary source of revenue for many local governments. In the third part of a three-part series, the Amery Free Press will take a look at how local property taxes compare to others across the nation and how to avoid sticker shock when you open that bill at the end of every year.
Property Tax Relief Bills Die After Freedom Caucus Blocks Them
Cowboy State Daily
Lawmakers became interested in the idea after realizing residential property is categorized as “other,” which makes it difficult to target any tax relief to residential homeowners. The Wyoming Constitution requires all properties in the “other” category be treated the same, which also means tax relief for residential properties would have to apply to industrial and ag.