The Greatest Wealth Transfer in History Is Here, With Familiar (Rich) Winners
New York Times
An intergenerational transfer of wealth is in motion in America — and it will dwarf any of the past. Of the 73 million baby boomers, the youngest are turning 60. The oldest boomers are nearing 80. Born in midcentury as U.S. birthrates surged in tandem with an enormous leap in prosperity after the Depression and World War II, boomers are now beginning to die in larger numbers, along with Americans over 80.
House passes bill to require property tax reassessments every five years
Delaware First Media
It took a lawsuit by public education advocates in 2020 for all three of Delaware's counties to conduct property tax reassessments for the first time in decades. Now state lawmakers are considering whether to require them at regular intervals.
Walker County property values up 30%, assessor says
Property values in Walker County have increased about 30%, probably because Northwest Georgia is one of the nation's real estate hotspots, Terry Gilreath, county tax assessor, told commissioners at their May 11 meeting.
Nonstarter': Bears, suburban school districts millions apart on property tax deal for Arlington
The Chicago Bears and three Arlington Heights-area school districts are millions apart on what they think the team's new Arlington Park property is worth and how much the team should pay in taxes, according to documents obtained by the Daily Herald.
City Council Approves Tax Abatement for $6 Million American Containers Project
Greg Hildebrand, CEO of the Marshall County Economic Development Corporation said American Containers is investing approximately $6 million on this project with $3.5 million on the real estate for the building addition and $2.5 million towards personal property with the purchase of new machinery. He said, “American Containers has been an excellent corporate community partner and we are proud to have them here in Plymouth.”
Gov. Laura Kelly vetoes massive bundle of tax legislation touted by GOP lawmakers
Gov. Laura Kelly vetoed an $80 million tax reform bill Friday because she said it was unacceptably packed with special interest tax breaks championed by big business rather than focused on policy changes beneficial to regular Kansans.
Supreme Court rules against hotels for a second time on COVID-related cases
A New Hampshire-based hotel company that lost millions during the 2020 COVID-19 shutdown cannot collect under the business interruption protection clause of its insurance policy, the New...
Governor gets bill doubling property tax exemption for parsonages
The high cost of housing apparently applies to parsonages, too. Currently, “a single family residential property … used exclusively and directly for fraternal or religious purposes” is exempt from property taxes on the first $250,000 in taxable value. Legislation passed by the Oklahoma House of Representatives and sent to the governor on Thursday, though, will raise that exemption to $500,000.
Big property tax breaks help lure Amazon to E. Oregon county
Port, county and city officials in Morrow County have approved a deal to have Amazon pay almost $40 million in fees during a 15-year span on five new data centers.In return, Amazon won't pay property taxes of more than $1 billion on the new centers. But Port of Morrow Commissioner Rick Stokoe said no business is competing to come to the county to pay as much as it can in property taxes.
County Said Man's Half Acre Lot was Valued at $111 Million!
San Angelo Live
The Tom Green County Appraisal District algorithm has come under fire for unfairly and inaccurately determining the value of property throughout the county. TGCAD appraisals are half the multiplication equation of the amount county property owners will shell out in January in property taxes. The other half of the equation is the city, county, school district, and water district (if applicable) taxing rates that are set usually in September each year.
Judge Carter Acts on Shocking Tax Appraisals
San Angelo Live
Turmoil at the Tax Appraisal District office this week has Tom Green County residents up in arms over dramatic increases in land values on property tax appraisals and Tom Green County Judge Lane Carter has not taken action to address the appraisal issue.
‘I think we're sort of covering up the truth.' Tarrant Appraisal grilled over website woes
During the Tarrant Appraisal District's May board meeting on Friday, Information Systems Director Cal Wood said: “I need time, patience and money.” Wood and Chief Appraiser Jeff Law were called upon to answer for TAD's website issues after having assured the board and the public in March that the website would be ready for property tax season.
Where are property taxes highest in Texas?
Texas may not have a state income tax, but it does have property taxes, and they have been rising for the last 10 years. Many state homeowners have seen their taxes rise as the state's tax burden goes up. But the amount you pay depends on where you live in the state, and the appraisal value of your real estate and other property in your area and county. Also, local municipalities and school districts can affect your property tax rate.
Home assessments leave many residents shocked
Waukesha County News
Home value assessment notices for Waukesha residents were recently mailed and many people are upset over the increases they saw. The Waukesha City Assessor's Office is responsible for the listing and valuation of all real estate and personal property in the city. It is required under state law that property assessments are valued based on fair market value.
Daily NAPTA Update 5.15.2023