Daily NAPTA Update 8.16.2023

Posted by Diane Macri | Aug 16, 2023 | 0 Comments


Lendlease Halts $1.2B Development, Its Largest In The Americas
Leadlease Group has stopped work on its $1.2B, 47-story Hayes Point office and apartment development in San Francisco, the company said Monday. The company paused the development earlier this year, Global CEO Tony Lombardo said during the company's most recent earnings call, due to the market's current conditions, particularly in San Francisco, where office leasing hasn't really recovered from the pandemic.


The Haven developer seeks relief from $1.3 million added to West Haven tax bills
New Haven Register
The Indianapolis-based owners of a fenced-off waterfront city property that has for years sat vacant and undeveloped has filed an application for tax relief in court. The Haven project was pitched to the city as a $200 million, 100-store high-end luxury outlet mall that would take advantage of the city's views of the West River, intended to bring traffic and 1,200 jobs to the city.


Former Montana revenue director says property tax system ‘rigged,' ‘broken'
Daily Montananan
Homeowners and renters in Montana are about to experience the largest property tax increase in history — and it's by design, said Dan Bucks, former head of the Montana Department of Revenue. They'll pay nearly $200 million more altogether, Bucks said. On the other hand, he said, large entities such as telecommunications companies received a tax break last year approximately half that amount, or $107 million.


Former church granted tax exemption for seven years, $470,000 in tax savings
Concord Monitor
A historic church downtown used as a homeless shelter last winter will receive nearly $500,000 in property tax breaks from the city of Concord to ease its conversion into market-rate downtown housing. Developers have entered into a purchase-and-sale agreement with the Concord Coalition to End Homelessness to acquire the church for $770,000 and plan to invest more than $6 million to renovate it.


Ogdensburg weighs property tax cap override after reassessment
After a property reassessment in Ogdensburg, the city could stand to collect much more in property taxes. But that may not be the way this works out because of the state's tax cap. The reassessment will add $71 million of taxable property in Ogdensburg. That's a 25 percent increase over last year. 

New construction in Manhattan weakest in more than a decade as key tax break expires
NY Daily News
New construction in Manhattan slowed markedly in 2023, with just 21 building permits filed in the first half of the year, the lowest midyear total since 2010, according to a report obtained by the Daily News. Only 13 of the 21 permits were for multiple-dwelling buildings, even as the city experiences a housing supply shortage.


'Series of screwups.' Former Tarrant Appraisal worker says web issues hampered protests
Star Telegram
A former Tarrant Appraisal District employee told the TAD board that the agency's website issues undermined homeowners' ability to protest their property tax appraisals this year. Patricia Nolan, who left the agency in July after nearly nine years, addressed the board at its Aug. 11 meeting in a closed session because it was a personnel issue.

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