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Property Tax › Residential Real Estate Market

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 -
McCarter & English, LLP

Mansion and Controlling Interest Transfer Tax Amendments Signed Into Law: Buyers and Sellers Must Move Fast to Avoid Rate Increase

McCarter & English, LLP on

On Tuesday, July 1, Governor Phil Murphy signed into law Senate Bill S4666/Assembly Bill A5804 (collectively, the Bill), which impacts certain transfers of real property. The Bill amends the existing fees imposed on certain...more

Pullman & Comley - For What It May Be Worth

Public Hearing Today on Connecticut Bills to Spur Residential Development on Commercial Sites

Pullman & Comley - For What It May Be Worth on

Today, March 4, 2025, the Connecticut General Assembly's Housing Committee will hold a public hearing on two bills designed to incentivize the development of housing on the sites of commercial and retail properties....more

Stikeman Elliott LLP

Toronto City Council Approves Incentive Plan for Private Developers of Rental Units

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On November 13, 2024, Toronto City Council voted 23-1 in favour of creating a “Purpose-built Rental Homes Incentives Stream” under the City’s Rental Supply Housing Program. The plan will support the building of 20,000 new...more

Ballard Spahr LLP

Pennsylvania: It’s Time to Appeal Your Real Estate Taxes

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The Pennsylvania deadlines for appealing 2025 real estate taxes are fast approaching. There are several factors to consider in determining whether to appeal....more

Bennett Jones LLP

British Columbia Introduces the Flipping Tax—What is it and Why Should You be Aware?

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What is the Flipping Tax and Why is it Important? The B.C. government announced in its 2024 budget a plan to introduce a tax (the Flipping Tax) on income earned from the sale of a property within 730 days of acquisition....more

Holland & Knight LLP

District of Columbia Releases Regulations for the Housing in Downtown Tax Abatement

Holland & Knight LLP on

The Office of the Deputy Mayor for Planning and Economic Development (DMPED) for the District of Columbia issued regulations effectuating the Housing in Downtown Tax Abatement (Abatement) on March 22, 2024. The regulations...more

Epiq

Commercial Real Estate Market: Observations and Opportunities

Epiq on

The commercial real estate market is in a fragile state. The remote working trend is not reversing anytime soon, if ever. Some analysts believed that once the pandemic ended, people would naturally revert to the “old way” of...more

Cozen O'Connor

Cozen Cities - December 14, 2022

Cozen O'Connor on

Massachusetts’ Energy Facilities Sitting Board approved a special permit for a controversial electrical substation in East Boston. The permit allows the project to circumvent 14 final environmental permits. 84% of Boston...more

Holland & Knight LLP

New York City Property Tax Blueprint an Incomplete Solution

Holland & Knight LLP on

Former New York City Mayor Bill de Blasio's Advisory Commission on Property Tax Reform (the Commission) issued a report on Dec. 28, 2021, titled "The Road to Reform: A Blueprint for Modernizing and Simplifying New York City's...more

Barnea Jaffa Lande & Co.

Israel: Everything to Know about the Purchase Tax Hike on Real Estate Investors

Barnea Jaffa Lande & Co. on

Last week, the Israeli Ministry of Finance approved the outline for a hike to the purchase tax imposed on real estate investors, once again, to tax brackets of 8% and 10%. The ministry’s goal is to “dissuade” investors from...more

Barnea Jaffa Lande & Co.

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

Barnea Jaffa Lande & Co. on

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

Tucker Arensberg, P.C.

Commonwealth Court Approves Assessment Appeals Based on Recent Sales and Cost Benefit Analysis

Tucker Arensberg, P.C. on

In the continuing litigation between taxing bodies and taxpayers over how and when taxing bodies may file property tax assessment appeals, Commonwealth Court recently issued a decision clarifying when such appeals may occur,...more

Allen Matkins

California Voters Narrowly Reject Split-Roll Initiative, but Approve Changes to Property Tax Exemptions; San Francisco Voters...

Allen Matkins on

On November 3, 2020, voters across the State of California were asked to consider various state and local ballot measures. The hardest fought campaign, Proposition 15, asked voters whether to rescind property-tax rules...more

Coblentz Patch Duffy & Bass

Election Results: Key San Francisco and California Ballot Measures Impacting Real Estate

Coblentz Patch Duffy & Bass on

In late October, we reported on a number of California, San Francisco, and regional propositions, including measures impacting real estate and other taxes, rent control, affordable housing, permits, and governance. At the...more

Holland & Hart LLP

Utah's Continued Momentum in Residential and Commercial Real Estate

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When you consider the rapidly expanding residential and commercial real estate markets in Salt Lake City and its surrounding suburbs, it brings to mind the highly anticipated 26-minute commute from Cleveland to Chicago via...more

Holland & Knight LLP

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

Holland & Knight LLP on

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

International Lawyers Network

Buying and Selling Real Estate in Greece

International Lawyers Network on

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER GREEK LAW - 1. PROCEDURE – MAIN STEPS OF REAL ESTATE ACQUISITION UNDER GREEK LAW. Acquisition of real estate property in Greece includes mainly the following steps: •...more

K&L Gates LLP

Melbourne Property Investor Alert: New Tax on Vacant Residential Properties

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With effect from 1 January 2018, owners of residential properties in certain Melbourne suburbs, which have been unoccupied for more than six months in a calendar year, will be liable to pay the Victorian Government's new...more

K&L Gates LLP

Residential Developments: Purchasers to pay GST to ATO after 1 July 2018

K&L Gates LLP on

Treasury has released consultation draft legislation on GST for sales of "new residential premises" and "potential residential land" (subdivided residential lots). As explained in detail further below, if enacted, the...more

K&L Gates LLP

Key Duty and Tax Changes for Victorian Property Purchasers: Bill Released

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Following our alert on 24 March 2017, the State Taxation Acts Amendment Bill 2017 (Vic) (Bill) has now been released and is currently before the Victorian Parliament. K&L Gates has been following the proposed changes to...more

Bilzin Sumberg

Discover What’s Ahead for Miami’s Condo Market

Bilzin Sumberg on

Significant issues facing the residential real estate industry in the coming year will be the topic of discussion on Wednesday, November 30 at the Urban Land Institute Southeast Florida & Caribbean’s annual Miami Condo &...more

Ballard Spahr LLP

CFPB Proposes TRID Rule Modifications

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As previously reported, the Consumer Financial Protection Bureau (CFPB) proposed substantive and technical revisions to the TILA/RESPA Integrated Disclosure (TRID) rule, which the CFPB refers to as the "Know Before You Owe"...more

Carlton Fields

Real Property & Title Insurance Update: Week Ending March 25, 2016

Carlton Fields on

REAL PROPERTY UPDATE - - Ad Valorem Taxation: lessee holding 99-year leasehold interest in unimproved land owned by government entity is not “equitable owner” and thus not liable for ad valorem property taxes pursuant to...more

Pierce Atwood LLP

Rhode Island Property Tax Appeal Deadlines Approaching

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Owners of commercial, residential or investment property in Rhode Island who wish to challenge their property tax assessment(s) are reminded that significant deadlines are approaching that require immediate attention. The...more

Saul Ewing Arnstein & Lehr LLP

Environmental Stigma Can Reduce Value of Property - Application of a 5 Percent “Standard” Stigma Devaluation for Contaminated...

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In a case that will have an impact on the owners of property that has been devalued as a result of environmental conditions, the Pennsylvania Supreme Court recently agreed that contaminated real estate could be appraised at 5...more

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