Daily NAPTA Update 6.14.2023

Posted by Diane Macri | Jun 14, 2023 | 0 Comments


U.S. Factory Construction Spending Has Doubled Since Last Year
Now Construction spending for new factories in the U.S. has more than doubled over the past year, new data from the Census Bureau shows. Construction spending for factories reached $190B in April, far above the $90B reached in June 2022, Business Insider first reported. Manufacturing accounted for roughly 13% of nongovernment construction.


San Francisco Mall Turned Over to Lender as Downtown Struggles
The Wall Street Journal
The owner of the Westfield San Francisco Centre said Monday it is turning the shopping mall over to its lender, in another blow to the city's struggling downtown. The decision comes six weeks after the mall's main anchor, Nordstrom, announced it was shutting down the location.


City Watch: Palm Coast's taxable property value has risen 12% since 2022
Observer Local News
The city of Palm Coast's taxable property value has increased 12.49% since 2022. This is the second year in a row that the city has seen a two-digit increase to the city's taxable value. In July 2022, the assessed taxable value increased 19.52% from July 2021, the first time the value had increased that significantly since 2006. In all, the city's preliminary taxable property value is $8.6 billion, up from $7.6 billion in 2022.


Many Muscogee County tax assessments increase, causing concern from some landlords
Muscogee County has sent out the property tax assessments for next year. Those assessments, which factor into tax bills, came up at the Columbus Council meeting Tuesday morning. Charlie Mordic is a Columbus landlord and here's what he thought when he saw his assessment this month.


NYC Revenue Won't Tank in Office ‘Doomsday,' Comptroller Brad Lander Says
If the value of office properties decline 40% from 2023 to 2029, there would be a revenue shortfall of $322.7 million in the fiscal year 2025 beginning July 1 2024, a report released on Tuesday by Lander said. The shortfall would increase to $1.1 billion in fiscal 2027, which makes up only 3% of the total property tax levy, or 1.4% of city tax revenues.


Milwaukee pastors address city over 'tax and take' assessments
Milwaukee Journal Sentinel
SKIP Members of the Black clergy walked out of a Common Council committee meeting on the tax-exempt status of their churches saying they were more frustrated than when they walked in. The pastors first began issuing public concerns about the way their church properties were being assessed by Milwaukee in 2021, calling the process "tax and take" because of the cost and potential loss of church property to tax foreclosure.


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