This Week in Property Tax-Issue 10
Hard to believe we are already at issue 10! We are going to celebrate by taking Monday off. Memorial day is this weekend which means it is the official (unofficial) start of summer. Lots going on here at Axiomatic and in the world of property tax.
China's Property Tax = Big Selloff?
New survey results indicate that one in five investors would look to sell investment properties if Beijing imposes a property tax. Read more from Nikkei Asian Review here.
Florida Constitutional Amendments Proposed
Three Constitutional amendments related to property tax will appear on this years ballot including a permanent cap on non-homestead assessment increases and increasing the homestead exemption amount. Read more from the Bradenton Times here.
Big Changes in Store for Oregon?
Governor Kate Brown has indicated that she plans to work with Oregon lawmakers to craft a ballot referral to reform the state's property tax system. Measure 50, approved in 1997, enacted a permanent operating limit for all existing tax districts. Read more from the East Oregonian here.
Illinois Statewide Property Tax Does Not Sit Well with Many
There have been many articles (editorials) on the Federal Reserve Bank of Chicago report that proposed 1% statewide property tax increase in Illinois to pay for pension debt. Here is one take from the Illinois News Network. This is going to be a interesting story over the coming months.
California to Backfill Santa Barbara County Property Tax Loses
Due to an unprecedented budget surplus, the State of California will backfill Santa Barbara County for property tax loss sustained as a result of the Thomas Fire and the 1/9 Debris Flow. More from the Independent here.
NY State Comptroller Identifies $5.8 M in Wrongful Tax Credits
NY State Comptroller Thomas DiNapoli's office identified 15,313 questionable or inappropriate property tax credits totaling $5,799,567. Read more from The Post Journal here.