Qualified Opportunity Zone Fund Investments
Mayor Parker Unveils “Mission 30,000” Housing Plan - Mayor Cherelle Parker outlined her “Mission 30,000” plan to build, preserve, and repair 30,000 housing units in Philadelphia during the Chamber of Commerce for Greater...more
CHICAGO — Jobs Slightly Down Since Last Year, State Data Shows - The Chicago metro area experienced a 0.2% drop in non-farm jobs between November 2023 and November 2024. While private education, health services, and...more
The Connecticut General Assembly recently passed a bill requiring municipalities to assess properties used solely for low and moderate-income housing based on the capitalized value of their net rental income....more
Last Tuesday, the New York Court of Appeals made a decision that could significantly change New York City’s property tax system. In a 4-3 decision, New York’s highest court allowed a lawsuit by Tax Equity New York (TENNY) to...more
In the final part of the 2024 Housing New Law Guidance series from Best Best & Krieger LLP (BBK), we cover important new housing legislation related to fire safety, elections, post-entitlement phase permits, streamlined...more
As expected, within days of the opening day of the 2024 Legislative Session came two proposed “clarification glitch” bills containing several proposed amendments to the Live Local Act. Senate Bill 328, sponsored by Senator...more
Council to Consider Bill Trio Aimed at Protecting Renters, Homeowners- City Councilmember Jamie Gauthier (District 3) introduced a legislative package that, if passed, would freeze property taxes for eligible residents,...more
Summary - The Baltimore City Council has passed a new inclusionary housing law which will require most new multifamily, market-rate projects to make at least 10% of their units available to households with limited incomes,...more
A recent decision by the Appeals Court of Massachusetts* about the entitlement of two nonprofit corporations which rent apartments at below- market rates to low-income elderly individuals and individuals with disabilities...more
Governor Ron DeSantis signed into law Senate Bill 102 (“Live Local Act” or the “Act”) on March 28, 2023. The majority of the Live Local Act will go into effect on July 1, 2023, with certain provisions pertaining to tax...more
A number of questions have arisen concerning the impact of the recently adopted Housing Stability and Tenant Protection Act of 2019 (HSTPA) on the Section 421-a Tax Exemption Program. HSTPA (Chapter 36 of the Laws of 2019)...more
Kentucky cases recently held that property is not exempt from taxation merely because the owner may be constitutionally exempt. Also, the valuation of leased property is rental income less expenses. However, if sales of...more
The recently adopted state budget bill included the long-awaited revisions to the 421-a program. These amendments to the Real Property Law, dubbed the “Affordable New York Housing Program,” provide partial exemptions from...more