News & Analysis as of August 21, 2025

Property Tax › New Legislation › Tax Incentives

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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... more +

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 -

New York City's Commercial Real Estate Tax Industrial and Commercial Abatement Program Extended to 2030 With Modifications

Akerman LLP - HR Defense on 6/30/2025

The New York City Industrial and Commercial Abatement Program (ICAP) has been extended to remain in effect through 2030, with some modifications. The New York state budget bill for FY 2026, signed by Governor Kathy Hochul on...more

The Evaluator - (Q2 2025) - From Indiana to Disney Springs: Major Developments in Property Tax Law

Vorys, Sater, Seymour and Pease LLP on 6/9/2025

In the last legislative session, the Indiana General Assembly introduced and passed significant changes to Indiana’s business personal property tax regime. The changes in Indiana’s SB 1, along with subsequent amendments from...more

Ohio Revised Code § 5709.56

Keating Muething & Klekamp PLL on 5/30/2025

In 1972, the average home price in the United States was approximately $30,000. Fifty years later, that number broke $500,000, an increase that is, no doubt, aggravated by a 4.5 million-unit deficit in supply. State and local...more

Ohio Reduces Property Tax on Utilities; Encourages Infrastructure Development

Vorys, Sater, Seymour and Pease LLP on 5/27/2025

Ohio Governor DeWine recently signed Substitute House Bill 15 (HB 15) which will become the law effective August 14, 2025. HB 15 contains many reforms related to public utilities including: (1) tax changes favorable to select...more

Ohio House Bill 15 Changes Ohio’s Energy Landscape

Dickinson Wright on 5/7/2025

On April 30th, 2025, the Ohio General Assembly overwhelmingly passed Substitute House Bill 15, which makes major changes to state energy policy to encourage the development of more in-state electric generation. Sponsored by...more

Ohio Passes Expansive Law to Promote Energy Generation in Response to Concerns about Grid Reliability

Bricker Graydon LLP on 5/1/2025

Rising electricity demand from data centers, industrial reshoring, and electrification have sparked national concern about grid reliability. With forecasts pointing to even greater energy needs, some stakeholders warn that...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

2023 Texas Legislative Updates to Public Facility Corporations Owning Multifamily Developments

Butler Snow LLP on 7/13/2023

During the 88th Regular Session, the Texas Legislature passed HB 2071 to address the perceived misuse of property tax incentives used by Public Facility Corporations (PFCs). The legislation significantly updated Texas Local...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

New Florida Law to Turbocharge Affordable Housing Development

Bilzin Sumberg on 4/3/2023

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

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