Daily NAPTA Update 6.13.2023

Posted by Diane Macri | Jun 13, 2023 | 0 Comments


Canadian Cities With The Highest And Lowest Property Tax Rates
Canada's rapidly rising home prices are a widely discussed topic, but the costs incurred after you've purchased a property are an often overlooked aspect of affordability. Once you've made your down payment and secured a mortgage, homeownership costs, like property taxes, can be an afterthought. But they can cost upwards of $10K in some cities, resulting in an unpleasant surprise for cash-strapped buyers.


Hotel Owners Start to Write Off San Francisco
The Wall Street Journal
San Francisco's once thriving hotel market is suffering its worst stretch in at least 15 years, pummeled by the same forces that have emptied out the city's office towers and closed many retail stores. Hotel owners in New York and Los Angeles are filling nearly as many rooms this year as they did in 2019, according to hotel-data firm STR. Their revenue per available room exceeds what it was before the pandemic.


Douglas County property valuation office sees record number of appeals
Homeowners around the Denver metro area checked a notice from their county assessors this spring and saw that their home value had jumped by shocking amounts. Driven by a costly real-estate market, those home values have spiked since the last time homeowners received notices of value two years ago. In Douglas County, residential properties saw increases between 30% and 60%, with a median of 47%.


How Some Rental Projects Pencil Out Without 421a Tax Break
The Real Deal
Some New York developers aren't playing the waiting game for 421a, the expired tax break that lawmakers just failed again to replace. While project filings have steadily declined since the popular multifamily abatement ended a year ago and its 2026 completion deadline draws nearer, some developers are still filing permits to build rentals.


'Perfect storm': Assessment appeals could greatly reduce Allegheny County, Pittsburgh and schools' coffers
Pittsburgh Post-Gazette
From PPG Place to U.S. Steel Tower, owners of some of Downtown's biggest skyscrapers are looking to cut their tax bills. And that could mean big trouble for the city, the Pittsburgh Public Schools and Allegheny County, all of which rely on the tax revenue pumped out by the gigantic buildings to help balance their budgets.


Greg Abbott appears open to compromise on property tax impasse
The Texas Tribune
Abbott appears to have softened on his insistence that lawmakers focus only on a method of property tax relief known as compression — sending state funds to school districts so they can lower their tax rates. Instead, he has been encouraging the House and Senate to strike a deal that can reach his desk, raising the prospect of broader legislation.

Jeff Blau Calls Houston Real Estate “Terrible Market”
The Real Deal
Jeff Blau, CEO of Related Companies, had some choice words about the Houston real estate market in a recent interview with The Real Deal, in which he detailed the New York-based company's expansion into the Texas market, save for Houston. “I actually think it's a terrible market. It's so concentrated on one industry — oil — and they have no zoning in Houston and a lot of land and lots of sprawl,” he said.


Sabey Data Centers sues Washington's Grant County over $2m in property tax
Sabey Data Centers' Integrate Quincy is suing Grant County in Washington over its property taxes. The company claims that it has paid $3.3 million in county taxes under protest over the last two years, representing nearly $2 million in surplus charges which the company is now requesting be refunded.

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