News & Analysis as of

Commercial Property Owners Tax Rates

Genova Burns LLC

Amendments to New Jersey's Mansion Tax and Controlling Interest Transfer Tax

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As of July 10, 2025, the Mansion Tax and Controlling Interest Transfer Tax (“CITT”) now requires sellers of certain classes of real property (and controlling interest involving certain classes of real property) transferred...more

Cole Schotz

New Jersey’s Latest Budget Has Sweeping Changes to the Mansion Tax

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The latest budget passed by the New Jersey legislature and signed by term-limited Governor Phil Murphy quietly enacted changes to New Jersey’s Mansion Tax, which affects not only residential properties but commercial...more

Fox Rothschild LLP

Real Estate Sellers Face Increased Burden Under New Jersey’s Amended 'Mansion Tax'

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New Jersey has increased its so-called "mansion tax" and shifted the party who must pay the fee from the buyer to the seller. The tax has a substantial impact on owners of New Jersey real estate, but despite its expansive...more

McCarter & English, LLP

Mansion and Controlling Interest Transfer Tax Amendments Signed Into Law: Buyers and Sellers Must Move Fast to Avoid Rate Increase

On Tuesday, July 1, Governor Phil Murphy signed into law Senate Bill S4666/Assembly Bill A5804 (collectively, the Bill), which impacts certain transfers of real property. The Bill amends the existing fees imposed on certain...more

Brownstein Hyatt Farber Schreck

The Season for Commercial Tax Assessments Has Arrived

Every two years, every Colorado county reassesses property taxes for real and personal property. The notices of valuation for the 2025-2026 cycle will soon be released on May 1. Now is the time for commercial property owners...more

BCLP

The High Street is Feeling the Love… Or Is It?

BCLP on

It’s “Love your High Street Week”! So, what better way to start the week than to consider two significant legal reforms announced by the government last week, that are intended to boost and revitalise the High Street...more

Lowndes

New Law Further Reduces Florida’s Sales Tax Rate on Commercial Rent

Lowndes on

Effective June 1, 2024, the State of Florida’s sales tax rate on commercial real property lease payments (including base rent and additional rent) will be reduced from 4.5% to 2.0% for payments received for occupancy periods...more

Allen Barron, Inc.

Is there a Target on Short-term Rental Homes for New Taxation?

Allen Barron, Inc. on

Is the target on short-term rental homes for new taxation? What about rental properties in general? When is income from a short-term rental presently taxable?...more

Williams Mullen

Industrial Owners Seeking Fair Tax Treatment Should Differentiate Personal Property From Real Estate Values

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North Carolina taxes both real estate and personal property, but differing valuation schedules and processes for the two types can lead to confusion and inflated tax bills for industrial property owners. Understanding how...more

BCLP

Do you want to know how much your business will be paying in business rates from 1 April 2023?

BCLP on

It is a good question because the new rating list; the first for 6 years, takes effect on that day. The rateable values that are being compiled reflect letting values (more or less) as at 1 April 2021....more

Womble Bond Dickinson

Why You Still Need Fee in Lieu of Tax Agreements

Womble Bond Dickinson on

At the conclusion of this year’s legislative session, the South Carolina General Assembly passed The Comprehensive Tax Cut Act of 2022 (the “Act”). Among a number of other significant tax changes, the Act effectively...more

Lowndes

New Florida Law Expected to Significantly Reduce Florida’s Commercial Lease Sales Tax Rate

Lowndes on

On April 19, 2021, Florida Governor Ron DeSantis signed into law Senate Bill 50 (SB 50), which amends portions of Chapter 212, Florida Statutes. SB 50 is slated to significantly reduce Florida’s commercial leasing sales tax...more

Holland & Knight LLP

Florida Commercial Rent and License Fees May See Decrease Under New Law

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Unlike most states, Florida imposes a sales tax on commercial rent or license fees, regardless of the length of the term. During the most recent legislative session, the Florida legislature passed and Gov. Ron DeSantis signed...more

Lowndes

Hillsborough County Commercial Lease Sales Tax Rate Reduced by Recent Florida Supreme Court Decision

Lowndes on

A recent Florida Supreme Court decision found that the Hillsborough County 1% transportation sales surtax is unconstitutional. As a result, the decision reduced the sales tax rate on commercial lease payments in Hillsborough...more

BCLP

Empty property rates in England; no more guarding the guardians?

BCLP on

A tax on failure - The two taxes in England on the occupation of property are non-domestic rating (business rates) and, for domestic rating, council tax. Pre COVID, business rates yielded £30bn and council tax £36bn...more

Allen Matkins

California Voters Narrowly Reject Split-Roll Initiative, but Approve Changes to Property Tax Exemptions; San Francisco Voters...

Allen Matkins on

On November 3, 2020, voters across the State of California were asked to consider various state and local ballot measures. The hardest fought campaign, Proposition 15, asked voters whether to rescind property-tax rules...more

Goodwin

California Property Taxes: Major Changes May Be Coming

Goodwin on

California real estate investors and other stakeholders need to pay close attention to Proposition 15, The California Schools and Local Communities Funding Act of 2020 (a.k.a. the “split-roll” initiative). If passed in the...more

BCLP

Material Changes to Business Locations: Can I get my business rates reduced?

BCLP on

Yes, if the change is a relevant change. Your UK business rates overheads depend on the rateable value (or “RV”) of the premises. The RV reflects the circumstances of the premises at the date of the rating list,...more

Foster Garvey PC

Short-Term Rental Update: Sonder now worth $1 billion after its latest funding round; commercial tax rate could quadruple...

Foster Garvey PC on

Sonder Reaches Unicorn Status - ("Airbnb competitor Sonder says after new funding round it’s now worth $1B," Real Deal - LA Real Estate News on Jul 11, 2019) Congratulations is well-deserved for Sonder, which just...more

Burr & Forman

South Carolina Property Tax for New and Expanding Manufacturers: The Fee-In-Lieu of Tax Versus the Special Source Revenue Credit

Burr & Forman on

South Carolina has some of the highest business property taxes in the Southeast. The state generally taxes land, buildings, machinery and equipment, and furniture and fixtures, but does not tax inventory, pollution control...more

Franczek P.C.

Illinois House Revenue Committee Holds Hearing on Vacancy Fraud Act

Franczek P.C. on

While overall there is little activity in the General Assembly, the House Revenue Committee is meeting today for a hearing on an interesting piece of property tax legislation. The hearing is on HB4363, which would create the...more

Ballard Spahr LLP

Pennsylvania Capital Stock Tax Phased Out; LLCs Now Are the Entity of Choice in PA; Procedure for Filing Final Returns

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Until it expired at the end of 2015, Pennsylvania Capital Stock Franchise Tax (CSFT) was imposed on all limited liability companies (LLCs), corporations, joint-stock associations, and business trusts doing business in or...more

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