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Property Tax › Tax Exemptions › New Legislation

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 -
Holland & Knight LLP

Florida Gov. Ron DeSantis Signs 2025 Tax Bill into Law

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Florida Gov. Ron DeSantis recently signed House Bill 7031 into law, enacting sweeping changes to Florida's tax statutes that include updates to the sales tax on commercial leases, sales tax relief, certain corporate income...more

Polsinelli

Texas HB 21 Reshapes the Requirements and Effects of Chapter 394 of the Texas Local Government Code

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Texas House Bill 21 (HB 21), signed into law in May, has dramatically shifted affordable housing tax exemptions across the state. Specifically, HB 21’s primary impact is on a housing finance corporation’s area of operation...more

BakerHostetler

Analysis of Texas House Bill 21 - Property Tax Exemptions for Housing Finance Corporations Owning Affordable Housing

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In its 89th Regular Session, the Texas Legislature enacted House Bill 21 (HB 21), introducing significant reforms to the way housing finance corporations (HFCs) own and operate multifamily affordable housing developments....more

Bracewell LLP

Texas Tax Update: Key Changes Enacted During the 89th Legislature

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The final day has passed for Governor Abbott to veto legislation that was approved during Texas’ 89th Legislature Regular Session. While the governor has called a special session commencing July 21, he has not identified any...more

Husch Blackwell LLP

Wisconsin Repeals Tax on Telecommunications Towers

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On July 3, 2025, Wisconsin Governor Tony Evers signed 2025 Wisconsin Act 15 into law, marking a significant milestone for the telecommunications industry in the state. This new legislation specifically exempts radio,...more

Orrick, Herrington & Sutcliffe LLP

Summary of Legislation Relating to Public Finance Enacted by the 89th Texas Legislature (Regular Session)

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This article briefly summarizes a select list of legislation relating to public finance enacted by the 89th Legislature (Regular Session) that became law. Bills are arranged by subject matter, in numerical order within each...more

Pierce Atwood LLP

New Rhode Island Tax on Non-Owner-Occupied Properties Assessed at $1 Million or More

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Rhode Island’s 2026 budget bill contains a "Non-Owner-Occupied Property Tax Act," which is popularly referred to as the “Taylor Swift Tax.” This law imposes a new statewide tax on non-owner-occupied residential properties...more

Holland & Knight LLP

Texas Enacts New Legislation That Will Reshape Affordable Housing Finance Landscape

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Texas Gov. Greg Abbott on May 28, 2025, signed House Bill 21 (HB 21) into law, marking a significant shift in how affordable housing projects in Texas can access property tax exemptions through housing finance corporations...more

BakerHostetler

Texas Legislative Update: HB 21 Changes Property Tax Exemption For Housing Finance Corporations

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On May 28, Gov. Greg Abbott signed House Bill 21 (HB 21), which becomes effective immediately. A brief summary of HB 21 can be found below. This summary reflects our current interpretation of HB 21. A more detailed analysis...more

Butler Snow LLP

Major Reforms to Chapter 394: HB 21 Brings Sweeping Changes to Housing Finance Corporations in Texas

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During the 89th Texas Legislative Session, Representative Gary Gates authored and passed House Bill 21, a comprehensive reform of Chapter 394 of the Texas Local Government Code. This legislation, which became effective on May...more

Frost Brown Todd

Large Kentucky Multifamily Housing Projects Are Now IRB-Eligible

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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

Hogan Lovells

Politics of housing: The Florida Live Local Act

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Florida’s legislature enacted the Live Local Act (as amended, the “Act”) to encourage the construction of affordable housing across Florida, providing opportunities for residents to live within the communities in which they...more

Farrell Fritz, P.C.

Additional Real Property Tax Relief for Certain Senior Housing Properties in Nassau County Signed into Law

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New York State Governor Kathy Hochul signed NYS Senate Bill 8647 (Martins)/Assembly Bill 10355 (Stern) into law this week....more

Holland & Knight LLP

Florida's New Live Local Act Offers Land Use and Tax Benefits

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Florida Gov. Ron DeSantis signed into law Senate Bill 102 on March 28, 2023, with an effective date of July 1, 2023. Commonly referred to as the Live Local Act (the Act), it has significant land use, zoning and tax benefits...more

Schwabe, Williamson & Wyatt PC

Oregon’s New Estate Tax Exemption for Family Businesses engaged in Farming, Forestry, ‎or Fishing Businesses

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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

Shutts & Bowen LLP

Florida's Live Local Act

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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

Pullman & Comley - For What It May Be Worth

New Remedial Bill Concerning Connecticut Property Tax Exemption for Manufacturers in Certain Municipalities

Pullman & Comley - For What It May Be Worth on

Connecticut has adopted a variety of property tax exemptions for certain specified uses of real and personal property, including property used in manufacturing. The prerequisite filing obligations and deadlines associated...more

Bricker Graydon LLP

Changes coming to Ohio’s real property tax exemption laws

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Beginning in 2022, Ohio will require owners of exempt real property to notify the county auditor if the property “ceases to qualify for exemption.” House Bill 110 - the most recent budget bill - included a provision that...more

Burr & Forman

New Property Tax Exemption for All South Carolina Manufacturers

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The South Carolina Infrastructure and Economic Development Reform Act, 2017 Act 40, was recently enacted and is designed to enhance South Carolina’s economic competitiveness. The Act, commonly referred to as the gas tax bill,...more

Holland & Knight LLP

New York's 421-a Tax Exemption for New Residential Buildings is Back

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The New York State Legislature has passed and Gov. Andrew Cuomo has signed legislation re-establishing the 421-a Tax Exemption Program after a nearly two-year hiatus. The program, which was first put in place in the early...more

Eversheds Sutherland (US) LLP

Here’s the Deal: Georgia Governor Signs Several Significant Tax Bills

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Following the conclusion of Georgia’s 2016 legislative session, Governor Nathan Deal signed into law several tax bills touching on a wide range of tax matters, including sales and use taxes, property taxes, corporate income...more

Pullman & Comley - School Law

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

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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

Faegre Drinker Biddle & Reath LLP

The Assessment Of Common Area Land: Indiana Tax Court Rejects Taxpayers’ Appeals, General Assembly Creates A New Exemption

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Indiana allows taxpayers to correct certain property tax assessment mistakes using a Form 133 Petition for Correction of an Error. In Muir Woods, Inc. v. Marion County Assessor (June 18, 2015), the Indiana Tax Court held...more

Foley & Lardner LLP

NY Property Tax Exemption Extension for Renewable Systems

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The New York legislature has passed a bill that extends a real property tax exemption for wind, solar and certain other energy systems until January 1, 2025. The bill provides that real property which includes an eligible...more

Bradley Arant Boult Cummings LLP

Wrap-Up of Alabama Legislature Actions

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The Alabama Legislature adjourned near midnight on May 20, closing a session that saw lawmakers grant final passage of the two operating budgets and of amendments to the controversial Alabama Accountability Act. With respect...more

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