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.