Property Owners, Tax Exemptions, New Legislation

New Rhode Island Tax on Non-Owner-Occupied Properties Assessed at $1 Million or More

Pierce Atwood LLP on 6/24/2025

Rhode Island’s 2026 budget bill contains a "Non-Owner-Occupied Property Tax Act," which is popularly referred to as the “Taylor Swift Tax.” This law imposes a new statewide tax on non-owner-occupied residential properties...more

Additional Real Property Tax Relief for Certain Senior Housing Properties in Nassau County Signed into Law

Farrell Fritz, P.C. on 9/26/2024

New York State Governor Kathy Hochul signed NYS Senate Bill 8647 (Martins)/Assembly Bill 10355 (Stern) into law this week....more

Oregon’s New Estate Tax Exemption for Family Businesses engaged in Farming, Forestry, ‎or Fishing Businesses

Schwabe, Williamson & Wyatt PC on 7/18/2023

On July 13, 2023, Governor Tina Kotek signed into law SB 498, which provides a new Oregon estate tax exemption for up to $15 million (the NR Exemption) of natural resource property that is used in a decedent’s farming,...more

Changes coming to Ohio’s real property tax exemption laws

Bricker Graydon LLP on 7/28/2021

Beginning in 2022, Ohio will require owners of exempt real property to notify the county auditor if the property “ceases to qualify for exemption.” House Bill 110 - the most recent budget bill - included a provision that...more

New Act Simplifies Payment in Lieu of Tax Transactions and Reduces Red Tape for Industrial Development Boards - Economic...

Bradley Arant Boult Cummings LLP on 5/22/2019

On April 30, 2019, Tennessee Gov. Bill Lee signed into law Public Chapter No. 265 (Senate Bill No. 708 or “S.B. 708”), amending the provisions of Tenn. Code Ann. § 67-5-502 relating to the taxation of leasehold interests....more

U.S. Tax Reform's Main Effects on Real Property Investors and Developers

Holland & Knight LLP on 12/28/2017

President Donald Trump signed the Tax Cuts and Jobs Act into law on December 22, 2017, enacting comprehensive U.S. tax reform with most provisions becoming effective starting on January 1, 2018 (generally until 2025). The...more