Daily NAPTA Update 8.1.2023

Posted by Diane Macri | Aug 01, 2023 | 0 Comments


Hotel conversions put hundreds of new low-income housing units on the market in Anchorage
Alaskas News Source
It's being called the biggest increase in low-income housing that Anchorage has ever seen in a single year according to a public/private partnership, consisting of nonprofits like the Rasmuson Foundation, The Anchorage Coalition to End Homelessness and the city. The group announced Thursday that a third hotel purchased to convert into housing as well as a fourth hotel converted to long-term shelter will add 332 new units to help reduce homelessness in Anchorage.


Blackstone-Owned EQ Office Sells OC Office Complex At A Discount
EQ Office, a U.S. office portfolio company owned by Blackstone, has sold an office campus in Costa Mesa for $91.5M. That is about 10% less than EQ spent about a decade ago to assemble the 553K SF property, called Canvas Costa Mesa, at 3070 and 3100 Bristol St., The Real Deal reported. 


Montgomery County Passes Rent Control Bill With 6% Cap
The Montgomery County Council passed the rent stabilization bill Tuesday, four months after competing bills on the hotly debated issue were introduced. The legislation allows landlords to increase rents by the rate of inflation plus 3%, but it sets a maximum of 6% on most apartments countywide. 


Auditor wants leaders to forego windfall from double-digit value hikes
Journal News
The state tax commissioner ordered an average countywide value hike of 42% a few months ago — the state will now accept an aggregate 39% jump — and Nix has received approved increases from the state for 13 of 22 taxing districts. The only large entity is Middletown and as feared the hit is just shy of 40%.


Sequatchie County approves first property tax hike in 9 years amid resident concerns, economic pressures
Monday, Sequatchie County officials voted on the first property tax increase in 9 years. It's the latest increase in our area, with Red Bank and Collegedale seeing a jump in their property taxes too. Residents shared concerns about the increase Monday, while others say it was necessary to meet growing economic demands.


WV NatGas Property Tax Rule Still a Mess, 303 Cases Appealed
Marcellus Drilling News
The West Virginia State Legislature passed House Bill (HB) 2581 on the last day of the annual WV legislative session in April 2021. HB 2581 required the State Tax Commissioner to develop a revised methodology to value oil and natural gas properties for the purpose of assessing property taxes.

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