This Week in Property Tax-Issue 9

$40.8 Million Lost in Guam

Lets kick this week off with a story about Guam. Apparently an audit was conducted and it indicated that $40.8 million in real estate taxes were deemed "lost revenue". This includes "John Doe" properties that the Revenue and Tax agency does not have owner or contact information on. Read more here from the The Guam Daily Post.

Volunteer to Reduce Property Taxes?

Here is an interesting concept, the state of Rhode Island is considering a bill that would let senior citizens volunteer for property tax credits. Why limit it to just senior citizens, I would trade some volunteer work to lower my tax bill!

Debates in Philly Continue

The ongoing debates regarding property tax in Philadelphia are continuing.  City Councilman David Oh is proposing a bill that would change the city's charter to give Council members the power to approve or reject assessments if they exceed the national urban Consumer Price Index. Read more from Plan Philly here.

Colorado Property Tax Fixes Punted

Colorado lawmakers are punting one of the state's most pressing financial dilemmas, the statewide property tax cuts that will automatically go into place in 2019. Read more from the Denver Post here.

Are Connecticut Taxes Worth It?

A very interesting video/article on Connecticut Property Taxes. We reported last week on the impending Property Taxpocalypse, but this article from NBC CT shows the problem from a different perspective.

Fulton County Homeowners Getting Back Million

Good new for Fulton County, GA residents. The County will be refunding millions of property tax dollars after properties were illegally overvalued. Read/watch more from WSB-TV Atlanta.

 

 

 

 

 

David Salzer
This Week in Property Tax - Issue 8

So much for the doldrums of spring, the world of property tax is as exciting as ever!

Connecticut Property Taxpocalypse

Lets start with an interesting article from City Lab on the Connecticut "Taxpocalypse". The article walks through the potential hazards that Connecticut city's and town's could be faced with as the state continues to struggle with balancing its budget.

Condemned House Sells for $1.23M

A condemned home in Sacramento sells for $1.23M, just a mear $230,000 over the asking price. Read and watch more from CBS13 here.

NE Ballot Measure Sputters Out

After a failed legislative session, many thought that a ballot measure may be the answer to property tax reform in Nebraska. The Yes to Property Tax Relief Committee announced it will stop collecting signatures. Read more about the fits and starts of NE property tax reform here (source North Platte Telegraph).

LA County Considers Property Tax for Stormwater

LA County is considering a property tax for impervious surfaces. The Los Angeles times reports that the money would be used to improve water quality, help L.A. County comply with federal clean water regulations and make the region more "water resilient" in the face of a changing climate and unpredictable water supply. Read more here.

PA Continues Attempts to Reform

The push for property tax reform in PA continues as legislation has been introduced that would exempt citizens' primary residence from school property tax. Read more from the Herald here.

France Crypto Currency Tax Reduction

A few editions back we blogged about Wyoming's approach to taxing Crypto Currency as property. France has declared crypto currency is now "moveable" property reducing the tax rate from 45% to 19%. Learn more from the Cointelegraph here.

Online Advertising Tax in India

Not a property tax topic per-say, but this one is too interesting to pass up. With India’s 6 percent equalization levy or ‘Google Tax’ on online advertising revenue in place for almost two years, the government is beginning to assess the impact of the new law and consider how to improve it. Two articles on this topic. The first is from mnetax.com and the second from Bloomberg.

 

 

 

 

 

 

David Salzer
This Week in Property Tax-Issue 7

Germany Property Tax Ruled Unconstitutional

A German high court rules that the nations property tax system is unconstitutional. East Germany vales are based on 1935 unit values, while west Germany values are based on 1964 unit values. Two articles on this topic, the first is from Euro News and the second is from from Handelsblatt Global.

Philly Home Values Spike 10.5%

Some unhappy residents in the City of Brotherly Love. The 2019 assessment shows an overall 10.5% increase in the median market value for a single family home. Read more from the Philadelphia Inquirer here.

Tax Reform in NE Not Dead Yet?

In last week's edition of TWIPT we included an article about the end of the NE legislative session and the lack of property tax reforms. Senators are now weighing the possibility of a special session. Read more from the Hastings Tribune here.

The United States of Taxation

A short article and more interesting infographic from MarketWatch on how much Americans pay in taxes. Maybe Axiomatic needs to relocate from the northeast...

 

 

 

 

 

David Salzer
This Week in Property Tax-Issue 6

No Deal on NE Property Tax Reforms

The odds of property tax legislation passing this year is all but dead after lawmakers could not reach an agreement over the weekend. Read the details from the Omaha World-Herald here.

NY follows NJ's Lead on Property Tax Loophole

New York lawmakers are trying to make the property tax deduction-charitable contribution play which NJ lawmakers first pushed. Read more from the NY Times here.

The Church of the Holy Sepluchre and Jerusalem's Property Tax

When is a property tax dispute between a church and a municipality an international controversy? When the church is the Church of the Holy Sepulchre and the municipality is the city of Jerusalem. Read more from the Oxford University Press's Blog here.

India Municipality Property Tax Collection Rate at 25%

After collecting just 25% of their property taxes, the Municipal Corporation of Aurangabad India rolls out an amnesty plan. Read more from the Times of India here.

Are High Property Taxes Worth It?

An interesting article from the Chicago Tribune about the positive aspects of high property tax. Read more here.

Interactive Map of NJ Property Tax Deductions

An interesting map of the property tax deduction average savings by county. Check out the map and some insights from NJ Spotlight here. It gets more interesting! Deep cuts to homestead tax relief is coming courtesy of the 2018 Budget. Read more about this potential impact from NJ Spotlight here.

Surprise!

Surprise, 9 out of the 10 counties with the highest property taxes surround New York City. Read more about it here.

 

 

David Salzer
This Week in Property Tax-Issue 5

We are back with a new thumbnail image (thanks to our graphics expert Justin Lowe) and more news from the world of property tax.

"I am not a fan of Bell's Claim to Fame"

Kicking it off with a quirky story from the Guardian about Alexander Graham Bell's descendants property tax dispute. I guess the assessor is a Meucci fan...

Toilet Gardens, Police Patrols and Lower Assessments?

I guess we are going to keep it going with the quirky stories today, here is one from North Country Now about a Potsdam NY property dispute. Toilet Gardens? You learn something new every day.

Tiered Property Tax in Maui

Maui Mayor Alan Arakawa is proposing a tiered property tax structure. Read more from the Maui News.

Philadelphia Adjusting Tax Proposal

More news from the City of brotherly love. Mayor Jim Kenney has lowered his property tax increase request from 6% to 4%. More from CBS Philly here.

What do you Consider to be a "Big" Tax Increase?

Two stories about property tax increases that make New Jersey look like nothing! Seat Pleasant Maryland is raising the property taxes 800% for three local businesses (source: BNA.com). No avoiding increases in Ocean View DE, where town administration is indicating that the tax rate will go up no more than 100% (sourcE: wboc.com).

A Sad Reminder to Always Check your Assessment

A sad story from Fox 4, about a Navarro County TX, family that overpaid property taxes for thirty years. A great reminder to always check your assessment data!

David Salzer
This Week in Property Tax-Issue 4

Its hard to believe that this is already the fourth issue of This Week in Property Tax. Winter is quickly coming to a close, despite the weekly 'Nor Eastern we have been getting at the Axiomatic offices. A few interesting articles from the week:

Lincoln Land Institute Update

The Lincoln Land Institute has updated the State-by-State Property Tax at a Glance data.

China's Housing Marketing Slowing Down

Interesting article from The Real Deal on the slowdown in the Chinese property market. Most places wish that 16% growth in 2018 was considered "slowing".

Scranton Leaders Asking for First County-Wide Reval in 50 Years

Scranton city leaders are asking the Lackawanna County County commissioners to conduct a county-wide reassessment. Something that has not been done in 50 years! Video and article can be found HERE from wnep.com. I wonder what Dunder Mifflin's office is worth....

Kansas Business Group Labels Property-Tax Bill for Schools with ‘Number of the Beast’

The headline says it all, read more from cjonline.com HERE.

Washington Legislature Passes One-Time Property Tax Cut

Washington property tax has been in the news a lot over the past few months, debates have temporarily culminated in the legislature passing a one-time cut. Read more from the AP HERE.

Oregon Simplifies Personal Property Tax for Heavy Equipment

The Oregon state House and Senate approved HB 4139 to simply the existing complicated system, read more HERE.

Chicago Assessments Come Under Scrutiny

There are a lot of factors at play in this complex case, with a lot of players. This is an atricle to read carefully HERE.

David Salzer
This Week in Property Tax-Issue 3

Chinese Property Tax is Progressing...

A few articles on the progressing property tax legislation in China:

First, the Chinese governments statement

A slightly deeper dive by the South China Morning Post

A more realistic take from the Washington Post

One last article about attempts to stabilize the volatile property market from Reuters.

The Garden State is not Going to Take it

NJ Rep. Bill Pascrell Jr. and other democrats are accusing the IRS of "naked political payback" for refusing to allow taxpayers to deduct  prepaid 2018 property taxes. Read more from NJ.com here.

A Texas Sized Ruling

The Texas Supreme Court made a major ruling in the EXLP Leasing LLC et al. v. Galveston Central Appraisal District case that could have huge impacts across the State. Read more from Baker Botts here.

Notre Dame Helping St. Joseph Assessor to Improve Quality

Notre Dame University's Mendoza College of Business is partnering at no cost with St. Joseph County assessors office to study different approaches to improving their valuation methods. Read more from the South Bend Tribune here.

The Fight for Property Tax Reforms in PA Continues

A bipartisan group of state senators is plotting another attempt at overhauling the property tax system. Read more from the WSKG here.

Computer "Glitch" Causes Property Taxes

Another reminder of the importance of practicing good data management procedures during a CAMA system implementation from the Calaveras Enterprise.

The Science and Art of Assessing

Interesting article from the Ithaca Voice on the Tompkins County Assessment Department and their approach to regression modeling, rising home prices, and a family legacy.

David Salzer
This Week in Property Tax-Issue 2

It has been another busy week in the world of property tax, here are some of the interesting/exciting/distributing things that are happening:

Potential Tax on Whiskey Barrels

Jack Daniel's distillery is battling with the state of TN regarding whether whiskey barrels should be taxed as equipment of inventory. Read more from the NY Post here.

New Jersey in the News

Lots of discussion this week about property tax increases and decreases around the Garden State. Here are a few interesting articles worth reading:

Jersey City Residents Protest Reval

Biggest Increases and Decreases in the Garden State

NJ Senate Passes Bill to County Property Taxes as Charity to Sidestep Federal Law

"Bloodbath" On the Other Side of the Pond

Theresa May is being warned that 20,000 high street stores could shut by 2020 in a business rates “bloodbath” unless the Government freezes the sky-high property tax. Read more from the UK Sun here.

What is the Impact of Amazon HQ2 on Taxes?

Indianapolis is in the running for Amazon HQ2. The Purdue Extension muses on the potential impact to property tax rates. Read more here.

Suburban Philly Property Tax Map

Interesting article and visuals (scroll down in the article) on the counties surrounding Philadelphia and their varying property tax burdens. Read more from the Inquirer here.

Philly Mayor Proposes 6% Property Tax Increase to Fund Schools

Philadelphia Mayor Jim Kenney is asking the City Council to pass a 6% property tax increase to solve a nearly $1 bn deficit plaguing the city's public school system. Read (and watch) more from NBC10 here.

 

David Salzer
This Week in Property Tax-Issue 1

For those of you who follow the Axiomatic blog, you know that we like to post articles from around the Country covering a variety of taxation issues. Feeling the urge to try something new, we are now going to be posting blog articles "en masse" each week entitled "This Week in Property Tax". Here we go!

Crypto no Taxo in Wyoming

A bill has been introduced in the WY legislature to exempt crypto currencey from property taxation. Read more from Cointelegraph here.

Commercial Property Tax Hikes in California

A 2018 ballot initiative to increase property taxes on commercial land in California could generate $6 bn to $10 bn in revenue. The LA times breaks it down here.

Tax Exempt? Not so Fast in Maine

Maine Governor Paul LePage is proposing taxing non-profits at 50% of their assessed value. WGME news outlines the proposal here.

Commercial Appraisals for Lending May Ease

US bank regulators are discussing relaxing regulations on independent appraisals for commercial lending. I guess no one wants to remember 2007...Read more here from Reuters.

Bid to Tax Douglas County Non-Profits Ends

The Douglas County, NE assessor has dropped her legal battle with the County Commissioners regarding taxing three nonprofit organizations operating retail stores. Read more from the Omaha World-Herald here.

Nebraska Property Tax Reform Remains in the News

Nebraska property tax reform remains in the news as the legislative session roles along. Many proposals and opinions, here are a few:

Legislature needs "schooled" on our property tax crisis

Petition drive to let Nebraskans vote on $1.1 billion in property tax savings

Nebraska property tax bill likely stuck in committee

Dark Stores Will not Go Away

Walmart wants tax refunds due to the Dark Store theory that is one of the biggest property tax topics of the past six months. Read more from wxpr here.

 

Hope you enjoyed Issue 1, stayed tuned for more from This Week in Property Tax!

 

 

 

David Salzer