Daily NAPTA Update 7.27.2023

Posted by Diane Macri | Jul 27, 2023 | 0 Comments


Robinson: Tax the San Francisco Giants
San José Spotlight
The San Francisco Giants have a taxable possessory interest over San Jose and Santa Clara County. It's exclusive and valuable. They've never paid the tax that is due. County Assessor Larry Stone should step up to the plate and send them a property tax bill as required by the state tax laws.

San Francisco's office demand is up 10%, says report on tenant tours
Office demand in the city increased 10.2% in the second quarter of 2023 compared with the first quarter, according to data from real estate tech firm VTS. The researchers also found that the city has, since March, seen more prospective office tenants looking for spaces larger than 50,000 square feet.


City Council eyes big tax break for homeowners who have a landfill for a neighbor
Hawaii News Now
While the Honolulu City Council is looking for ways to soften the bite of a property tax spike for homeowners, it's also considering a tax break for another reason: To make amends for those who have to live with a landfill as their neighbor. Manuel Anduha is among those who could benefit. He's lived for 45 years in his home on Mohihi Street. 


Chicago 2023 Revaluation Over-Burdens Homeowners
EIN Presswire
Cook County's 2023 reassessment places over 60% of the increases in market value on homeowners with 38% on commercial property. The total assessment for 15 townships reviewed increased from $30.6 billion to $35.9 billion, a 17.3% increase. Home values were increased $3.3 billion (13.8%) while commercial property values were increased by $2.0 billion (30.6%).


'It's ugly': Newell tears into NOLA taxes
“It's the perfect storm. And it's ugly,” said WWL's Newell Normand this week of the state of property taxes in New Orleans, La. However, he did reveal that there's a light in the storm.According to Normand, owners of more than 6,000 properties in New Orleans have seen an increase of 50% or more in the assessed value of their homes.


A Lawsuit Over Property Tax Assessments Reveals the Perils of Contracting Out Tech
This summer, residents began receiving surprisingly-high property tax bills. As part of the county's biannual reassessments, some residents saw their taxes go up by as much as 83 percent; one homeowner saw the value of her mobile home increase nearly 400 percent from $40,000—overvalued by $10,000 in 2021—to its current revaluation set at $202,000. 


Proposed property tax initiative in hands of Montana Supreme Court
In 2022, a proposed ballot measure that would have capped Montana property taxes fell short of the more than 60,000 signatures it needed to go before voters. Now, with many more Montanans raising concerns about the impact of rising property values, advocates are attempting to place a similar measure on the 2024 ballot.


N.J.'s largest city orders 1st property tax revaluation in 10 years
The late Sam Brummer was still in charge at Hobby's Deli when Newark had its last revaluation in 2013, so his son Michael was only vaguely aware of its impact on the landmark sandwich shop's property tax assessment when asked about it this week.


Pittsburgh-Area Mall Owes Millions In Assessment Taxes: Report
The ongoing failure of the Galleria at Pittsburgh Mall has become more evident with Frazer officials going to court to collect more than $10 million in special assessment taxes. According to WTAE-TV, the mall didn't generate enough revenue to cover expenses such as a new Route 28 interchange. The court filing could lead to a sheriff's sale of the mall.


DFW's Retail Market Saw Net Absorption Nearly Triple Last Quarter
Demand for retail is surging in Dallas-Fort Worth as a dearth of new construction and minimal vacancies stir up competition for available space. Net absorption nearly tripled between the first and second quarters from 396.5K SF to 956.5K SF, according to new data from Partners, which includes any lease of more than 5K SF in its report. 

Washington Co. Appraisal District's Appeal of 'Invalid' Values Unsuccessful
The study found that last year's appraised values for Brenham ISD were 8.2 percent below the state values determined by the Comptroller. If the difference between the state value and the local value assessed by the appraisal district is greater than 5 percent, it is considered “invalid” for the year.

Former Lewisville mayor dies
Cross Timbers Gazette
Rudy Durham, who served as an elected official for the city of Lewisville for over a quarter-century, died Tuesday, the city announced. He was 67. Durham was first elected to City Council in 1994 and then spent two terms as Lewisville's mayor, starting in 2015. In 2021, Durham decided to not seek reelection. 

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