News & Analysis as of August 20, 2025

Property Tax › Farms

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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 -

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

Genova Burns LLC on 7/28/2025

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

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

TO BUILD A POND: Does it impact your agricultural use exemption?

Haynsworth Sinkler Boyd, P.A. on 12/19/2022

A landowner inherited a family timber tract located in Charleston County originally purchased by their grandfather as a timber investment property in 1936. Since that initial purchase, the family, through three (3)...more

Clean and Green Tax Program May Provide Opportunities for Property Tax Relief

Tucker Arensberg, P.C. on 5/18/2021

The Clean and Green deadline for 2022 is June 1, 2021. Most property owners are familiar with the tax appeal process in Pennsylvania. But many may not be aware of a program that provides tax savings for properties that...more

Rollback Taxes in South Carolina: Changes Effective January 1, 2021

Burr & Forman on 2/15/2021

The start of a new year frequently includes new or updated statutes, and South Carolina is no exception. 2021 brings an update to South Carolina rollback tax laws, with potentially significant implications for real estate...more

Revised Proposition 13 Ballot Initiative Closer to Qualifying for November 2020 Ballot

Orrick, Herrington & Sutcliffe LLP on 3/19/2020

California Ballot Initiative 19-0008, The California Schools and Local Communities Funding Act of 2020, (also known as the “Schools & Communities First” measure) has received over 1 million signatures in support of inclusion...more

The Wisconsin Homestead Exemption

Ruder Ware on 9/26/2018

Farmers may have wondered how a neighbor or someone else filing bankruptcy can keep his or her house. The answer is exemptions. Exemptions are assets that can be kept from unsecured creditors. The Wisconsin Legislature...more

Real Estate Winners and Losers Under Federal Tax Overhaul

Tonkon Torp LLP on 3/30/2018

In a prior post, I highlighted the effect the December 2017 Tax Cuts and Jobs Act has on Section 1031 tax deferred exchanges. While those changes affected investors in everything but real estate, other provisions of the Act...more

South Carolina Conservation Easements for Farm and Forestry Property

Burr & Forman on 9/15/2017

There are 12.9 million acres of commercial forestland in South Carolina. More than half of the forestland is family-owned, and 82% of private owners live on the land. The state also has about 25,000 farms, which encompass 4.9...more

Tentative 2014 Cook County Equalization Factor Released

Franczek P.C. on 5/6/2015

The Illinois Department of Revenue has released the tentative 2014 Cook County equalization factor. The preliminary factor is 2.6922. Prior year equalization factors are summarized...more

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Property Tax › Farms

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