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Property Tax › Residential Property Owners › Tax Exemptions

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 -
Pullman & Comley - For What It May Be Worth

Connecticut Property Tax Bills to Get Public Hearings

Pullman & Comley - For What It May Be Worth on

Two of the Connecticut General Assembly's most influential committees are holding public hearings this week on the following property tax bills of note...more

Bilzin Sumberg

Florida Live Local Act Tax Exemption Guidance Officially Updated

Bilzin Sumberg on

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

Goodwin

New Guidance on Los Angeles Measure ULA (Mansion Tax) Exemptions

Goodwin on

It has been more than three months since Measure ULA (a/k/a the LA Mansion Tax and the Homelessness and Housing Solutions Tax) became effective in the City of Los Angeles. Measure ULA imposes a new special transfer tax (the...more

Holland & Knight LLP

DOF Ruling Confirms Property Tax Exemption for Homeless Shelter in a Leasehold Condominium

Holland & Knight LLP on

In response to a ruling request from Holland & Knight, the New York City Department of Finance (DOF) issued a ruling (FLP-22-5024) holding that a homeless shelter owned and operated by a not-for-profit (NFP) entity is...more

Miller Canfield

Michigan Court of Appeals: Full Principal Residence Tax Exemption Available to Homeowners Renting Portion of Property Short-Term

Miller Canfield on

If a Michigan property owner rents part of his or her home, can the property owner still claim 100% principal residence tax exemption (PRE) on the home? Yes, declared the Michigan Court of Appeals in Keith W. DeForge v...more

Blake, Cassels & Graydon LLP

What the New Speculation and Vacancy Tax Act Means for B.C. Real Estate

Blake, Cassels & Graydon LLP on

British Columbia’s Speculation and Vacancy Tax Act (Bill 45) (SVTA) recently received royal assent. As announced in the 2018 provincial budget, the SVTA introduces a tax on residential properties left vacant for six months or...more

BakerHostetler

Florida: Sun, Fun, and Sand or Back Taxes, Penalties, and Interest?

BakerHostetler on

Do you own residential property in Florida? Do you also own residential property in another state? Some Florida counties have been cracking down on Florida Homestead exemption fraud, and you might be surprised to find you owe...more

Pullman & Comley - School Law

Property Tax Exemption for Residential Properties Revoked for Many Connecticut Colleges and Universities

Pullman & Comley - School Law on

During the recently concluded special session, the Connecticut General Assembly approved, and the Governor subsequently signed into law, Section 244 of Public Act No. 15-5 (June Special Session) that revokes the property tax...more

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