Daily NAPTA Update 9.28.2023

Posted by Diane Macri | Sep 28, 2023 | 0 Comments


The housing market just keeps getting more expensive
Markets Insider
The housing market just keeps getting more expensive for Americans. S&P CoreLogic Case-Shiller Indices data out Tuesday showed US home prices increased 1% in July compared to a year ago. The index, which covers all nine US census divisions and measures repeat-sales data, increased 0.6% in July on a seasonally adjusted basis.

Here's Why Simon Property Is Defying Critics With New Billion-Dollar Bet On Retailer
When mall giant Simon Property Group bought fashion retailer Aéropostale out of bankruptcy in 2016, it was seen by the market as an act of weakness, a short-term gamble from a company desperate to avoid a new swath of empty storefronts across its portfolio. Seven years on, Simon has swelled the portfolio of retail brands it owns stakes in as part of a joint venture with brand specialist Authentic Brands Group called SPARC.

Construction Spending Up On Manufacturing Starts, But Residential Construction Lags
Multifamily starts dropped to an annual rate of 334,000 units in August, down 41% compared with the same month in 2022, according to the Census Bureau, and off 26.3% month-over-month. Single-family starts dropped 4.3% for the month, coming in at an annualized rate of 941,000 units, but edged up by 2.4% compared with a year ago. 


New Address for D.C. Property Tax Bills: What You Need to Know
The Washington Informer
D.C. residents or those who have property in the city can make their check or money order payable to the “DC Treasurer.” The payment should include a square, suffix and lot, or parcel and lot numbers. The top portion of the bill should be included for timely processing of payment. The D.C. Office of Tax and Revenue sends envelopes to taxpayers but if another envelope is needed, the Philadelphia address should be used. 


How Much Is Mar-a-Lago Worth? Valuation of Trump Property Raises Questions
Questions are swirling on social media about the value of Donald Trump's Mar-a-Lago, Florida, residence after a New York judge said it was far lower than the figure claimed by the estate's presidential owner. In a ruling concerning a fraud case against the former president, his sons and the Trump Organization on Tuesday, Judge Arthur Engoron found that they had overvalued several of Trump's properties, including his club resort in the Sunshine State.

Century Rejects 280% Tax Increase, Can't Approve A Budget
A nearly 300% property tax increase in Century failed Tuesday evening, leaving the town without a new budget. And what happens next was not immediately clear. The town council had previously given unanimous tentative approval to a a property tax increase with a millage rate of .9204, which is 290.66% greater than the rolled-back rate of .2356 mills. 


Sen. Molnar brings class-action lawsuit for statewide residential property tax relief
Daily Montanan
A former and a current lawmaker are hoping to do what neither the Legislature nor the Montana Attorney General was willing to do – challenge residential property taxes. In a class-action lawsuit filed in Yellowstone County on Tuesday, they allege that the state is continuing to overcharge residential taxpayers and the suit insists that the maximum Montana can tax is far lower than the rates established by the Montana Department of Revenue.

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