Daily NAPTA Update 7.3.2023

Posted by Diane Macri | Jul 03, 2023 | 0 Comments


Meta Puts Big D.C. Office Space Up For Sublease
The company put 122K SF of office space at Terrell Place on the market for sublease, according to a preliminary second-quarter market report from CBRE. A Cushman & Wakefield listing obtained by Bisnow is marketing 124K SF in the building as available, including 74K SF of contiguous space, with Dan Rasmussen and James Collins listed as the brokers. A source with knowledge of the listing said that it is for Meta's space.


Simon wants mall property taxes lowered
Yahoo News
The nation's largest owner of shopping malls has been shopping for discounts — on its property taxes. Simon Property Group has cashed in on its efforts this year, securing a $2.3 million credit on its property taxes in Salem and winning a court judgment for north of $1.7 million against Nashua.


Dems poised to pass property tax relief bill
In 1935, Austrian physicist Erwin Schrödinger devised a thought experiment. He proposed that if you sealed a cat in a box with a flask of poison that may eventually kill it that you can't definitively know the cat's fate until the box is unsealed. Therefore, in the liminal space before the box is unsealed the cat can be considered both alive and dead. It's true of hypothetical felines and the Democrats' property tax relief program.


Shine focused on fixing city and county property tax revenue shortfalls
A bill in the 88th Legislative Session that is believed to have fixed the issue was House Bill 1613. The bill, authored by Rep. Hugh Shine, R-Temple, and coauthored by many other representatives of the Texas House, was a more aggressive and statewide approach to the fix than similar bills of its kind filed in previous sessions by Shine's Bell County counterpart, Rep. Brad Buckley, R-Salado.

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