News & Analysis as of August 21, 2025

Tax Exemptions

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Property Taxes are taxes levied against the owner of property located within a particular jurisdiction. Property taxes are often used to refer to taxes on real property. Property taxation schemes vary depending on the country or jurisdiction. However, a popular system involves a government assessment of the value of a property and a rate based on a proportion of the assessed value. A property may be subject to taxation by multiple taxing entities. less -

Denver Announces a Middle Income Housing Pilot Program

Otten Johnson Robinson Neff + Ragonetti PC on 7/31/2025

Denver’s Department of Housing Stability (“HOST”) and Denver Housing Authority (“DHA”) are partnering to pilot a program aimed at spurring development of middle-income housing. As reported in the Denver Post, Denver Mayor...more

Texas HB 21 Reshapes the Requirements and Effects of Chapter 394 of the Texas Local Government Code

Polsinelli on 7/14/2025

Texas House Bill 21 (HB 21), signed into law in May, has dramatically shifted affordable housing tax exemptions across the state. Specifically, HB 21’s primary impact is on a housing finance corporation’s area of operation...more

Analysis of Texas House Bill 21 - Property Tax Exemptions for Housing Finance Corporations Owning Affordable Housing

BakerHostetler on 7/14/2025

In its 89th Regular Session, the Texas Legislature enacted House Bill 21 (HB 21), introducing significant reforms to the way housing finance corporations (HFCs) own and operate multifamily affordable housing developments....more

Texas Enacts New Legislation That Will Reshape Affordable Housing Finance Landscape

Holland & Knight LLP on 6/16/2025

Texas Gov. Greg Abbott on May 28, 2025, signed House Bill 21 (HB 21) into law, marking a significant shift in how affordable housing projects in Texas can access property tax exemptions through housing finance corporations...more

Texas Legislative Update: HB 21 Changes Property Tax Exemption For Housing Finance Corporations

BakerHostetler on 6/4/2025

On May 28, Gov. Greg Abbott signed House Bill 21 (HB 21), which becomes effective immediately. A brief summary of HB 21 can be found below. This summary reflects our current interpretation of HB 21. A more detailed analysis...more

Major Reforms to Chapter 394: HB 21 Brings Sweeping Changes to Housing Finance Corporations in Texas

Butler Snow LLP on 6/3/2025

During the 89th Texas Legislative Session, Representative Gary Gates authored and passed House Bill 21, a comprehensive reform of Chapter 394 of the Texas Local Government Code. This legislation, which became effective on May...more

Large Kentucky Multifamily Housing Projects Are Now IRB-Eligible

Frost Brown Todd on 4/16/2025

Kentucky local governments now have an additional tool to help address their housing shortages thanks to legislation enacted during the 2025 Kentucky General Assembly. A provision of Senate Bill (SB) 25 authorizes local...more

Politics of housing: The Florida Live Local Act

Hogan Lovells on 4/14/2025

Florida’s legislature enacted the Live Local Act (as amended, the “Act”) to encourage the construction of affordable housing across Florida, providing opportunities for residents to live within the communities in which they...more

The Evaluator - Winter 2025: Nationwide Valuation Headlines

Vorys, Sater, Seymour and Pease LLP on 3/19/2025

Filmore Parc Apartments II v. Norman White, et al., Case No. 2024-CA-0475 (La. App. 4 Cir. 2/14/2025). Last month, a Louisiana appellate court determined that an apartment complex’s affordable housing units were not eligible...more

Proposed TDHCA Rule to Require Local Approval for Property Tax Exemptions on Certain Properties

BakerHostetler on 1/16/2025

At its Dec. 12, 2024 board meeting, the TDHCA included on its board agenda a proposed change to Section 10.406 of the Texas Administrative Code (Section 10.406). Under the proposed change, prior to an ownership transfer of a...more

Florida Live Local Act Tax Exemption Guidance Officially Updated

Bilzin Sumberg on 12/4/2023

The Live Local Act provides a property tax exemption of up to 100% of the assessed value of a qualifying project’s units. In order to qualify, a project must contain at least 71 housing units, and must serve housing occupants...more

Texas Legislature Revises Law Governing Public Facility Corporations

Husch Blackwell LLP on 6/28/2023

On June 18, 2023, HB 2071—the Texas legislature’s solution to perceived abuses of property tax incentives related to Public Facility Corporations (PFCs)—took effect. The law amends Local Government Code Chapter 303, which...more

‎2023 Changes to Texas Law: Property ‎Tax Exemption for Public Facility Corporations Owning ‎Affordable Housing

Troutman Pepper Locke on 6/12/2023

The 88th Regular Session (2023) of the Texas Legislature approved HB 2071 (the “Bill”), substantially revising the way public facility corporations can be utilized to own and operate affordable housing. While some provisions...more

Florida's Live Local Act

Shutts & Bowen LLP on 5/8/2023

The Live Local Act (SB 102) (the “Act”) amends multiple provisions of the Florida Statutes with the overarching purpose of spurring additional development of affordable housing in the State. Importantly, for qualifying...more

Now Effective: New REET Exemption Available in Washington for Property to Be Used to Provide Affordable Housing

Foster Garvey PC on 1/13/2023

As of January 1, 2023, providers of affordable housing in Washington State have access to a new exemption from the excise tax on real estate sales (also known as the real estate excise tax, or “REET”). This new exemption,...more

Much More than 66% – Must-Know Changes in the Urban Renewal Field

Barnea Jaffa Lande & Co. on 11/10/2021

After years of expectations, the government has approved the legislative amendments needed to promote “Urban Renewal” projects in Israel. While everyone is talking about the amendment lowering the threshold of consent for...more

Section 421-a and New York City's New Rent Law

Holland & Knight LLP on 7/9/2019

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

New York's 421-a Tax Exemption for New Residential Buildings is Back

Holland & Knight LLP on 4/18/2017

The New York State Legislature has passed and Gov. Andrew Cuomo has signed legislation re-establishing the 421-a Tax Exemption Program after a nearly two-year hiatus. The program, which was first put in place in the early...more

New 421-a Legislation

Herbert Smith Freehills Kramer on 4/14/2017

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

Property Tax & Valuation Topics - Winter 2017

Pullman & Comley, LLC on 1/20/2017

On September 30, 2016, the Connecticut Supreme Court heard oral argument in Nutmeg Housing Development Corp. v. Colchester. On the face of it, the ad valorem valuation of a garden variety property in the suburbanizing Town...more

Being a “good landlord” not enough to prove low income housing qualified for Indiana’s charitable purpose property tax exemption

Faegre Drinker Biddle & Reath LLP on 6/16/2014

In Housing Partnerships, Inc. v. Tom Owens, Bartholomew County Assessor, Pet. No. 49T10-1005-TA-23 (June 6, 2014), Taxpayer owned several individual homes, duplexes and small apartment buildings. The properties were rented...more

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