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Property Tax Real Estate Development Construction Project

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

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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

Bilzin Sumberg

Live Local Act Glitch Bill

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As expected, within days of the opening day of the 2024 Legislative Session came two proposed “clarification glitch” bills containing several proposed amendments to the Live Local Act.  Senate Bill 328, sponsored by Senator...more

Ballard Spahr LLP

New Inclusionary Housing Mandates for Baltimore City

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Summary - The Baltimore City Council has passed a new inclusionary housing law which will require most new multifamily, market-rate projects to make at least 10% of their units available to households with limited incomes,...more

International Lawyers Network

Buying and Selling Real Estate in Brazil (Updated)

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER BRAZILIAN LAW - 1. OVERVIEW OF BRAZILIAN HISTORY - Brazil is a federative republic and the largest country in both South and Latin America. It is also the world's...more

Akerman LLP

NYC Department of Finance Accepting FY 2024-2025 ICIP and ICAP Renewals Until January 5, 2024

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The New York City Department of Finance requires that properties receiving benefits under the Industrial Commercial Incentive Program (ICIP) file a Certificate of Continuing Use (CCU) to renew the real estate benefits for the...more

Bilzin Sumberg

New Florida Law to Turbocharge Affordable Housing Development

Bilzin Sumberg on

Governor Ron DeSantis signed into law Senate Bill 102 (“Live Local Act” or the “Act”) on March 28, 2023. The majority of the Live Local Act will go into effect on July 1, 2023, with certain provisions pertaining to tax...more

International Lawyers Network

Buying and Selling Real Estate in Brazil (Updated)

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER BRAZILIAN LAW - 1. OVERVIEW OF BRAZILIAN HISTORY - Brazil is a federative republic and the largest country in both South and Latin America. It is also the world's...more

Akerman LLP

Vesting under 421-a Is Just the Beginning

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As many in the New York Real Estate community are aware, Section 421-a (16) of the New York Real Property Tax law (“421-a”), was not re-enacted by the State Legislature.  Projects that were eligible for a tax exemption under...more

Pillsbury - Gravel2Gavel Construction & Real...

Real Estate & Construction News Round-Up (07/13/22)

The Biden administration will use infrastructure funds to upgrade 85 airports across the U.S., The Affordable New York tax provision expires, homebuyers in China refuse to pay mortgages, and more....more

International Lawyers Network

Buying and Selling Real Estate in Brazil (Updated)

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER BRAZILIAN LAW - 1. OVERVIEW OF BRAZILIAN HISTORY - Brazil is a federative republic and the largest country in both South and Latin America. It is also the world's fifth-largest...more

BCLP

BTR to be outside the scope of the new Residential Property Developer Tax

BCLP on

We have learnt that HMRC has dropped its proposal to make the build-to-rent (BTR) sector subject to the new residential property developer tax (RPDT). We understand that BTR activity will not be in scope of the tax at this...more

BCLP

New Residential Property Developer Tax: the design of the tax

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In this blog we consider the current design of the residential property developer tax (RPDT). Separately we have blogged on the triggers for liability. This blog is based on the current draft of the legislation issued on 20...more

Saul Ewing LLP

What Developers Need to Know About New Philadelphia Tax Legislation Affecting Development Projects

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Responding to calls from Philadelphia’s housing advocates to generate tax revenue for affordable housing, Philadelphia City Council adopted a trio of ordinances on December 2, affecting most new construction projects...more

Hogan Lovells

Budget 2020: real estate tax changes

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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

Bilzin Sumberg

El nuevo caso de florida facilita las asociaciones público-privadas

Bilzin Sumberg on

Recientemente, el Tribunal de Apelaciones del Primer Distrito de Florida se pronunció en relación con el caso Crapo v. Provident Group-Continuum Properties, LLC, el cual establece una norma que generaría un tratamiento más...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

Kramer Levin Naftalis & Frankel LLP

New 421-a Legislation

The recently adopted state budget bill included the long-awaited revisions to the 421-a program. These amendments to the Real Property Law, dubbed the “Affordable New York Housing Program,” provide partial exemptions from...more

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