News & Analysis as of

Real Estate Market Tax Rates

Fox Rothschild LLP

Sticker Shock at Closing Tables for Dealership Sellers

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Selling an auto dealership in New Jersey just got more expensive — and more complicated. As of July 10, 2025, changes to New Jersey’s so-called “Mansion Tax” have shifted the burden of this transfer tax onto the seller. A...more

Saul Ewing LLP

Deadline Approaching: Murphy Signs Into Law Amendments to New Jersey’s “Mansion Tax” and Controlling Interest Transfer Tax

Saul Ewing LLP on

On June 30, 2025, Governor Murphy signed into law significant changes to the New Jersey Mansion Tax and CITT. These amendments include increases in the fees specific to high-value properties and a shift in which party is...more

Fox Rothschild LLP

Real Estate Sellers Face Increased Burden Under New Jersey’s Amended 'Mansion Tax'

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New Jersey has increased its so-called "mansion tax" and shifted the party who must pay the fee from the buyer to the seller. The tax has a substantial impact on owners of New Jersey real estate, but despite its expansive...more

Saul Ewing LLP

Philadelphia Increases Realty Transfer Tax Rate to 3.578% Starting July 1, 2025

Saul Ewing LLP on

Effective July 1, 2025, the realty transfer tax rate for properties or acquired real estate companies sold in the City and County of Philadelphia will increase to 3.578%, in addition to the Commonwealth of Pennsylvania realty...more

Bricker Graydon LLP

Economic Development Impact of Proposed HB 96 Cap on General Fund Carryover Balances

Bricker Graydon LLP on

This article provides an overview of the impact that the proposed HB 96 cap on school district general fund carryover balances will have on other areas of Ohio’s economic development ecosystem, including property tax rates,...more

DarrowEverett LLP

What Florida Sales Tax Cut Means for Florida Commercial Tenants

DarrowEverett LLP on

Broadly speaking, according to the Florida Department of Revenue, each Florida sale, amusement park admission, storage unit and rental is taxable (unless it falls under an exemption, such as nonprofits). More specifically,...more

White & Case LLP

Bill Amending the Corporate Tax Law and Value Added Tax Law and Introducing Additional Motor Vehicle Tax are submitted to the...

White & Case LLP on

After February 6, 2023, in order to meet the financing needs arising from the earthquake in Kahramanmaraş, a legislative proposal was submitted to the parliament which establishes an Additional Motor Vehicle Tax for 2023 and...more

Goulston & Storrs PC

D.C. Transfer and Recordation Taxes On Track to Decrease to 2.9%

Goulston & Storrs PC on

D.C.’s recordation and transfer tax rates on commercial or mixed-use properties are on track to decrease to a combined rate of 2.9% for transactions closing after September 30, 2023. ...more

BCLP

Spring Budget 2023 - tax impact on the real estate sector

BCLP on

Underneath the headline points, the Budget contained a number of measures designed to fulfil the Chancellor’s objective of encouraging growth and investment. There was broadly good news for those investing in UK real estate....more

BCLP

UK Mini-Budget in reverse - Tax impact on the real estate sector

BCLP on

In an attempt to calm the markets and ensure the UK’s economic stability the new Chancellor, Jeremy Hunt, gave a statement ahead of the scheduled Medium-Term Fiscal Plan on 31 October. He announced a reversal of almost...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

Hogan Lovells

Budget 2020: real estate tax changes

Hogan Lovells on

Here is a brief summary of the measures in the March 2020 Budget which are relevant to the Real Estate sector. Non-UK resident companies with UK property income – As previously announced, non-UK resident companies that...more

Davis Wright Tremaine LLP

Is Washington's REET Affecting How Couples Hold Real Estate in a Family Business?

In 2019, the Washington Legislature substantially revised and increased the tax on transferring real property with its real estate excise tax (REET). ...more

Bilzin Sumberg

Decrease in Florida Sales Tax on Commercial Rent

Bilzin Sumberg on

Effective as of January 1, 2020, the Florida state sales tax rate applicable to the lease of commercial real property has decreased from 5.7% to 5.5%.  Therefore, the state will levy a 5.5% sales tax on all rent collected...more

Davis Wright Tremaine LLP

Washington Real Estate Excise Tax Changes Magnify Transaction Costs and Risks

Beginning next year, the Washington real estate excise tax (REET) will convert to a tiered rate structure from the current flat-rate structure, resulting in a big increase in the rate for more valuable properties....more

K&L Gates LLP

Washington State Senate Bill 5998 Passed: REET Changes for 2020 and Beyond

K&L Gates LLP on

New REET Rate Structure - Last week, the Washington State legislature passed Senate Bill 5998, resulting in a new graduated state rate scale for real estate excise taxes (“REET”). ...more

Morrison & Foerster LLP

MoFo New York Tax Insights - Volume 10, Issue 5

2019-20 NYS BUDGET ENACTED, INCLUDING REAL ESTATE TRANSFER TAX INCREASES - On April 12, 2019, Governor Andrew M. Cuomo signed into law the New York State Budget Bill for the State’s 2019-20 fiscal year, which began on April...more

Foley Hoag LLP - Environmental Law

Who Needs a Carbon Tax When We Can Raise the Real Estate Excise Tax?

Governor Baker announced on Friday that, as part of his FY 2020 budget, he would be proposing to increase the real estate excise tax in order to fund the Global Warming Solutions Trust Fund. The Governor stated that, in the...more

Bradley Arant Boult Cummings LLP

PARCA Issues 2018 Study: How Alabama Taxes Compare - SALT Alert: Alabama Edition

Just before Christmas, the influential Public Affairs Research Council of Alabama (PARCA), the nonpartisan think tank headquartered at Samford University, released its annual report, How Alabama Taxes Compare. The contents...more

Lowndes

Florida Commercial Lease Sales Tax Rate Further Reduced

Lowndes on

Late Friday, Governor Rick Scott signed Senate Bill 620 into law, further reducing the State of Florida’s sales tax rate on rental payments for the lease of commercial real property. ...more

Hinshaw & Culbertson LLP

Tax Law Impacts of the 2017 Tax Reform on Real Estate Industry

Generally, the new tax reform act (P.L. 115-97) enacted into law in December 2017 represents a boon for the real estate industry. The law offers additional incentives for investors in real estate, both by offering lower tax...more

Lowndes

Tax Cut and Jobs Act Limits Benefit of Carried Interest

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After many years of being the target of Congress and the IRS, the Tax Cut and Jobs Act finally succeeded in limiting the beneficial tax treatment of carried interests, at least for some taxpayers. This change will be of...more

Pillsbury Winthrop Shaw Pittman LLP

Ballot Initiative Seeks to Eliminate Prop 13 for Commercial and Industrial Real Estate

Initiative 17-0055 would limit Proposition 13 protection to residential property. New initiative seeks to eliminate Proposition 13 protection for commercial and industrial property by requiring fair market value...more

Lowndes

Tax Reform Brings New Interest Expense Limitation

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The Tax Cut and Jobs Act introduced a new rule limiting a businesses ability to deduct interest expense, which can have a significant impact in the senior living area as facilities often are acquired or built using debt....more

Akerman LLP

Tax Reform: The Impact On Real Estate

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The new tax law commonly referred to as the “Tax Cuts and Jobs Act” (the “Act”) – signed into law on December 22, 2017 – makes far reaching income tax law changes that will impact both commercial and residential real estate....more

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