News & Analysis as of August 22, 2025

Property Tax › Real Estate Market › 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... 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 -

Business Better Podcast Episode: Bridging Campuses: Legal Insights on Education Industry Consolidation - Real Estate and Tax

Ballard Spahr LLP on 4/9/2025

This episode is part of our “Bridging Campuses: Legal Insights on Education Industry Consolidation” series, where we discuss trends in higher education consolidation and closures, and outline common characteristics of at-risk...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

Recently Approved Property Tax Measures in Connecticut

Pullman & Comley - For What It May Be Worth on 6/24/2024

During the 2024 regular session of the Connecticut General Assembly, seven bills were passed and signed into law that deal with a variety of property tax matters. Of these, the most significant is Public Act No. 24-151. This...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

Real Property Tax Alert

Farrell Fritz, P.C. on 9/8/2022

Any commercial assessment increase not related to new construction must be phased in over the next 5 years at 20% per year. As we enter the 3rd year since the 2020/21 County-wide reassessment, a reminder, that if your...more

Vesting under 421-a Is Just the Beginning

Akerman LLP on 8/11/2022

As many in the New York Real Estate community are aware, Section 421-a (16) of the New York Real Property Tax law (“421-a”), was not re-enacted by the State Legislature. Projects that were eligible for a tax exemption under...more

(Regulatorische) Auswirkungen der Corona Krise auf Fondsimmobilien

McDermott Will & Schulte on 4/7/2020

Die Corona-Pandemie macht vor der Immobilienbranche nicht halt. Das offensichtlichste Beispiel sind die nun vielfach ausbleibenden Mietzahlungen, die Immobilieninvestoren vor Probleme stellen. Die (miet-)rechtlichen...more

Property Tax and Valuation Topics - Summer 2019

Pullman & Comley, LLC on 8/13/2019

Approximately 20% of Connecticut’s 169 municipalities usually conduct general revaluations every five years as required by law. Due to a quirk in the schedule, 2019 revaluations will be conducted by only 14 communities. While...more

Second Department Upholds Loss of Religious Use Real Property Tax Exemption

Farrell Fritz, P.C. on 1/22/2018

On January 18, 2018, the Appellate Division, Second Department, upheld a decision denying an application for a religious real property tax exemption on the grounds that the property owner’s use of the main structure as a...more

Hospital and Homeowner Property Tax Exemptions Examined by Illinois Courts

Franczek P.C. on 10/26/2017

Illinois Courts are currently examining several different aspects of property tax exemptions, all of which impact the revenues of school districts and other units of local government. Most notably, the Illinois Supreme Court...more

Urban Agricultural Incentive Zones Act Extended

Coblentz Patch Duffy & Bass on 10/12/2017

On September 27, 2017, California Governor Jerry Brown signed an extension of the Urban Agricultural Incentive Zones Act. Rather than sunsetting on January 1, 2019, the Act now extends until January 1, 2029....more

Property Tax Exemption Application Deadline Approaches

Lowndes on 2/22/2017

March 1st is the deadline for filing all property tax exemption applications in the state of Florida. No matter in which of the 67 Florida counties you own property, please be certain that any property tax exemptions you may...more

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