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Property Tax › Economic Development

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 -
Akerman LLP

New York City’s Industrial and Commercial Real Estate Tax Abatement Program Extended to 2029

Akerman LLP on

New York Governor Kathy Hochul signed the bill on extending the Industrial and Commercial Abatement Program (ICAP) for an additional four years, to March 1, 2029, with no modifications to the program....more

Farrell Fritz, P.C.

Tax Incentives Aim to Drive Real Estate Development Forward

Farrell Fritz, P.C. on

It has long been an accepted reality that very little real estate development gets done in New York State without the help of a myriad of tax incentive packages handed out by state and local governments—and the entities that...more

Cozen O'Connor

Cozen Cities - April 10, 2024

Cozen O'Connor on

CHICAGO — Gov. JB Pritzker Announces Plan to Make Chicago Quantum Technology Capital- Illinois Governor JB Pritzker announced a plan to make Chicago a quantum technology capital at M-Hub, a business incubator on Chicago’s...more

Snell & Wilmer

Property Owned by Non-Indians and Located on Tribal Land Is Subject to Property Tax

Snell & Wilmer on

Generally, tribal lands held in trust by the federal government are exempt from state and local taxation under Section 5 of the Indian Reorganization Act of 1934 (the Act). However, when non-Indians are involved in ownership...more

Davidoff Hutcher & Citron LLP

Hamilton was Right…IDAs are the Catalyst for Private Sector Growth!

Davidoff Hutcher & Citron LLP on

The father of the American banking system is also the father of economic development (too bad this part of Hamilton’s legacy did not make it into the musical!). To maximize economic development, help launch new...more

Bricker Graydon LLP

Intensive Care for Hospital Finances: Economic Development Tools

Bricker Graydon LLP on

Like many industries across the nation, Ohio’s hospitals are experiencing tight margins, rising costs, and increased demands for medical services. In Ohio, local governments have the power to administer economic...more

Greenbaum, Rowe, Smith & Davis LLP

Garden State C-PACE Program Update: EDA Issues Draft Assessment Documents and Municipal Opt-In Ordinance

Greenbaum, Rowe, Smith & Davis LLP on

What You Need to Know - •On August 14, 2023, the EDA posted the draft assessment agreement forms and model municipal opt-in form required for the program to become operational. •The newly released documents complement the...more

Cole Schotz

New M-CORE Program to Incentivize Manhattan Office Renovations

Cole Schotz on

The New York City Economic Development Corporation (NYCEDC) and the New York City Industrial Development Agency (NYCIDA) have launched the Manhattan Commercial Revitalization (M-CORE) Program to incentivize owners and...more

Akerman LLP

Pre-Applications for NYC's New M-CORE Program Available on June 8, 2023

Akerman LLP on

The New York City Economic Development Corporation (NYCEDC) and the New York City Industrial Development Agency (IDA) created the New Manhattan Commercial Revitalization (M-CORE) Program with the goal of supporting...more

Kohrman Jackson & Krantz LLP

City of Cleveland Property Tax Abatement: The Study, Key Findings and Recommendations

Kohrman Jackson & Krantz LLP on

THE STUDY - In the summer of 2019, Cleveland’s Office of Community Development and the Equitable Community Development Working Group commissioned a study (the “Study”) to identify the historic usage of the City’s Tax...more

Haynsworth Sinkler Boyd, P.A.

HSB Economic Development Update - June 2022

Haynsworth Sinkler Boyd, P.A. on

The HSB Economic Development team published their June 2022 news update, highlighting the following topics: Big Changes to South Carolina Property Taxes and Incentives- The big political news in South Carolina this June...more

Bricker Graydon LLP

Calling all economic developers: Large TIFs may be eligible for a one-time extension opportunity

Bricker Graydon LLP on

In the fall of 2019, the Ohio General Assembly significantly changed state law governing tax increment financing (TIF) exemptions. For certain TIF projects, local communities can extend the exemptions – and, therefore,...more

Moore & Van Allen PLLC

MVA Monitor - May 2019 #2

Moore & Van Allen PLLC on

It was another fairly quiet week at the General Assembly. Several House committees advanced bills this week, but only three bills had votes on the House floor. There was more activity in the Senate, but much of that chamber’s...more

Orrick, Herrington & Sutcliffe LLP

Legislation Relating to Public Finance Enacted by the 86th Texas Legislature (Regular Session)

Orrick, Herrington & Sutcliffe LLP on

This document briefly summarizes a select list of legislation relating to public finance enacted by the 86th Legislature (Regular Session) that became law. Bills are arranged alphabetically by subject matter, separating laws...more

Womble Bond Dickinson

South Carolina Legislative Update: Job Tax Credit Increase

Womble Bond Dickinson on

On May 22, South Carolina Governor Henry McMaster signed into law H.B. 4243 , known colloquially as the “Panthers Bill,” as the primary buzz surrounding the bill arose from the provisions aimed at assisting the Carolina...more

Spilman Thomas & Battle, PLLC

Spilman Alert - Breaking Insights: Important West Virginia Supreme Court of Appeals Decision Affirms Law on Taxation and Leasehold...

Spilman Thomas & Battle, PLLC on

The Supreme Court of Appeals of West Virginia's recent decision in Musick v. University Park at Evansdale marks an important affirmation of West Virginia law on taxation of leasehold interests. It has important and positive...more

Burr & Forman

South Carolina Property Tax for New and Expanding Manufacturers: The Fee-In-Lieu of Tax Versus the Special Source Revenue Credit

Burr & Forman on

South Carolina has some of the highest business property taxes in the Southeast. The state generally taxes land, buildings, machinery and equipment, and furniture and fixtures, but does not tax inventory, pollution control...more

Parker Poe Adams & Bernstein LLP

Rural Development Council Works to Keep Georgia On Your Mind

Parker Poe Adams & Bernstein LLP on

When singers croon about the old yellow moonlight spilling through the pines of the Georgia woods, the “Georgia rain on the Jasper County clay” and taking the “midnight train to Georgia,” they evoke nostalgia for the state’s...more

Burr & Forman

New Property Tax Exemption for All South Carolina Manufacturers

Burr & Forman on

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

Burr & Forman

South Carolina Economic Development Incentives for Warehouse and Distribution Operations

Burr & Forman on

South Carolina offers a wide variety of economic development incentives to businesses seeking to locate or expand in the state. This incentive array focuses on certain types of businesses the state wishes to attract. One such...more

Burr & Forman

South Carolina Economic Development Incentives: The Negotiated Fee in Lieu of Property Taxes

Burr & Forman on

South Carolina has some of the highest business property taxes in the Southeast.  The state generally taxes land, buildings, machinery and equipment, and furniture and fixtures, but does not tax inventory, pollution control...more

Burr & Forman

10 Items of Note From the 2016 South Carolina Legislative Session

Burr & Forman on

The South Carolina General Assembly completed its 2016 regular session on June 2. The following are highlights from that session. 1. Highway Funding and SCDOT Restructuring - Legislation (S.1258) addressing road...more

Burr & Forman

South Carolina Property Tax Incentives: The Special Source Revenue Credit

Burr & Forman on

While South Carolina has low income taxes, and comparatively low sales taxes as well, the state makes up for this by having some of the highest business property tax rates in the Southeast. These property taxes are generally...more

Eversheds Sutherland (US) LLP

Georgia Supreme Court Rejects Challenge to Property Tax Incentives

Eversheds Sutherland (US) LLP on

On March 27, 2015, the Georgia Supreme Court rejected a challenge to the legal validity of property tax incentives in Georgia, largely on procedural grounds. SJN Properties, LLC v. Fulton County Bd. of Tax Assessors, No....more

Best Best & Krieger LLP

SB 628: Investing Tax Increment in Infrastructure and Economic Development

Best Best & Krieger LLP on

It will be slightly easier for municipalities and special districts to harness the tax increment for financing infrastructure projects under Senate Bill 628. Infrastructure Financing Districts, which have existed in...more

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