3 Key Takeaways | Update on Chicagoland Local Taxes
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With the Connecticut General Assembly in the home stretch of the 2025 legislative session, the following noteworthy property tax bills have been voted out of committee for consideration and possible action by both chambers of...more
Tax Court Modifies Rushmore Method for Hotel Valuation. The Maryland Tax Court recently modified the traditional Rushmore income approach used to determine the fair market value (FMV) of the real estate component of a hotel....more
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
South Carolina companies with any real or personal property placed in service in the state annually complete and file a PT-300, the state’s property tax return form. Companies that have entered into a negotiated Fee in Lieu...more
As previously reported, in Ex parte Russell County Community Hospital, the Alabama Supreme Court announced that all software, including customized software created for a particular user, is "tangible personal property" and...more
• Family offices are increasingly involved in structuring and managing the ownership or use of private aircrafts for business and personal travel. • The optimal structure will vary depending on a number of factors,...more
The holiday season is in full swing which means Christmas cookies, New Year’s resolutions, and property taxes… Wait. What? Yes, if you or your clients are aircraft owners in Texas, you should already be thinking about...more
There were several notable state tax opinions issued by the South Carolina Administrative Law Court, Court of Appeals, and Supreme Court in the 1st quarter of 2018. A number of tax cases are also pending before the Court of...more
The Georgia legislative session concluded on March 29, 2018. In addition to two major bills relating to federal tax reform, Georgia enacted several other pieces of notable tax legislation....more
For purposes of Michigan property taxes, qualified manufacturing personal property (as defined by MCL 211.9m and 211.9n) located on occupied real property is exempt from ad valorem taxation and, rather, is subject to a much...more
Local assessors are in the process of sending annual notices of real and personal property tax assessments to property owners/taxpayers, who must determine whether the assessments are correct and whether an appeal should be...more
Michigan’s 2017 property tax assessment notices are in the mail. Should you appeal? Local assessors are in the process of sending annual notices of real and personal property tax assessments to property owners/taxpayers,...more
This is no April Fools’ Day joke. Indiana property tax exemption applications for 2016 are due on or by April 1 — six weeks earlier than in previous years. If an exemption application is not properly and timely filed, the...more
On June 29 and 30, 2015, the Connecticut General Assembly conducted a special legislative session following the close of the 2015 regular session. Among other things, the General Assembly passed a bill to implement the state...more
The Philadelphia Office of Property Assessment (OPA) recently mailed notices to each owner of property listed as tax exempt on the OPA’s records indicating that the owner must file a form to certify that the property...more
Hotels are one of the most misunderstood properties when valued by local assessors for property tax purposes. A hotel’s enterprise activity is comprised of tangible property, in the form of real estate and personal property,...more
The deadline to file for Michigan’s new Personal Property Tax Exemption is next Monday, February 10, 2014. In 2012, Gov. Snyder signed the law providing a personal property tax exemption to taxpayers who own equipment...more