Daily NAPTA Update 5.3.2023

Posted by Diane Macri | May 03, 2023


Kaegi moves to raise Bears' Arlington Heights property taxes
Crain's Chicago Business
Cook County Assessor Fritz Kaegi has thrown a haymaker punch at the Chicago Bears as they ponder whether to proceed with plans to build a stadium complex in Arlington Heights, moving to raise sixfold the property tax value of the land involved even before any construction occurs. The move is being appealed to the Cook County Board of Review, a three-person panel that can overrule Kaegi's decisions.


Iowa lawmakers send bipartisan, $100M property tax cut to Gov. Kim Reynolds
Iowa Capital Dispatch
House File 718 passed the Senate unanimously Tuesday, with an amendment combining parts of the chambers' differing property tax proposals. Much of the language comes from Senate File 569. The House passed the amended bill 93-1 Tuesday afternoon, with Rep. Elinor Levin voting against and six representatives not voting.


County Manager Mitchell proposes largest property tax rate decrease ever
Blue Ridge Now
At the May 1 Henderson County Board of Commissioners meeting, Henderson County Manager John Mitchell presented the proposed 2024 county budget, recommending the biggest decrease in the property tax rate in the county's history, he said. Mitchell told the Board the proposed rate was 43.1 cents per $100 valuation, which is 13 cents less than the current rate (56.1 cents). 


Core Spaces Starts 400 For-Rent Homes in DFW Exurb Princeton
The Real Deal
Core Spaces is taking a deep dive into the build-to-rent world, after mostly focusing on student housing developments throughout its 13-year history. The Chicago-based firm started construction on Oxenfree, a 400-plus home community about 45 miles northeast of Dallas, in Princeton, with the first batch of homes slated for delivery in April 2024.

Wolfe Investments Nabs Dallas Office Building for Apartment Conversion Project
CoStar News
A private equity real estate investment firm has acquired an aquamarine blue-hued midcentury modern office building in downtown Dallas, with plans to transform it into an apartment building in the near future. Wolfe Investments, based in Plano, Texas, a Dallas suburb, has recently purchased 211 N. Ervay St. in Dallas for an undisclosed sum. 

Commercial property valuations increase 18% overall in Fort Bend County
Community Impact
The overall value for commercial properties in Fort Bend County increased by 18% year over year, according to data from the Fort Bend County Appraisal District. A FBCAD release stated the rise in commercial market values was caused by increased construction costs attributable to pandemic-related supply chain issues. 

Texas property taxes: Some state districts to pay $5 billion to fill funding gap at other schools
ABC13 Houston
Cynthia Velazquez parks her car outside Central Middle School as she waits for her child to be released from school. Velazquez said there are a few things that have changed at the school since she graduated from the Galveston Independent School District, but the decades-old building where her child goes could use more improvements.

Bexar County Chief Appraiser Michael Amezquita to retire after 20 years
Head Topics
He's the person responsible for the annual notices that homeowners, landlords, business...Chief Appraiser Michael Amezquita (center) helps a property owner with protest forms as a steady flow of people pay a visit to the Bexar Appraisal District office as the deadline to protest property taxes looms on Monday, May 16.


Voters reject property tax hike to support Washington hospital
Beckers Hospital Review
Snoqualmie Valley, Wash., voters rejected a measure that would have raised property taxes by 46 cents per $1,000 of property value to help support capital projects and new equipment for Snoqualmie Valley Hospital District, the Snoqualmie Valley Record reported May 2. 

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