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Property Tax › Redevelopment

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 -
Goulston & Storrs PC

D.C. FY25 Budget Expands CRE Revitalization Initiatives

Goulston & Storrs PC on

The end of June saw the D.C. Council pass the Fiscal Year 2025 Budget Support Act of 2024 and the Fiscal Year 2025 Local Budget Act of 2024. The 2025 budget includes the “Central Washington Activation Conversion Program...more

Bricker Graydon LLP

Intensive Care for Hospital Finances: Economic Development Tools

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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

Warner Norcross + Judd

New Brownfield Redevelopment Law Amendments in Michigan

Warner Norcross + Judd on

On July 18, 2023, Governor Gretchen Whitmer signed a series of bills that will dramatically update the state’s brownfield redevelopment laws to allow the use of tax increment financing for housing projects on brownfield sites...more

Kramer Levin Naftalis & Frankel LLP

The New York State Brownfield Cleanup Program: Budget Updates and Looking Ahead to an Extension

Kramer Levin Naftalis & Frankel LLP on

Governor Cuomo’s FY 2022 Budget provides relief to participants in the New York State Brownfield Cleanup Program (BCP) that risk losing their Tangible Property Tax Credit due to pandemic-related and other delays....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

Pullman & Comley, LLC

Groundbreaking News - Fall 2018

Pullman & Comley, LLC on

Welcome to Pullman & Comley's Real Estate Newsletter, Groundbreaking News. Written by our team of attorneys, you'll find articles that highlight hot topics and developments spaning the fields of real estate, land use and...more

Brownstein Hyatt Farber Schreck

Urban Renewal Applicability Bill Provides Certainty to Urban Renewal Community; Plus Two Other Urban Renewal Bills

Brownstein Hyatt Farber Schreck on

On Friday, March 31, more than a year of ongoing discussions and negotiations among urban renewal stakeholders came to fruition with the introduction by Colorado State Sens. Rachel Zenziger (D – Arvada) and Beth Martinez...more

Best Best & Krieger LLP

Statute Authorizing Transfer of Local Taxes as Penalty is Unconstitutional

Best Best & Krieger LLP on

California Appellate Court Ruling on Proposition 22 - A statute authorizing the transfer of sales and use tax and property tax revenues from cities is unconstitutional on its face, the California Court of Appeal found...more

Franczek P.C.

Appellate Court Upholds TIF District Levy and Collection of Taxes

Franczek P.C. on

The Illinois Appellate Court recently upheld the actions of a city council in its establishment and implementation of a TIF district (Devyn Corp. v. City of Bloomington). In this case, the Court addressed the adequacy of a...more

Brownstein Hyatt Farber Schreck

Tax Increment Financing Implementation Changes Coming Soon

Brownstein Hyatt Farber Schreck on

As many of you who are involved in developing projects in urban renewal or downtown development areas know, the principal method for financing such projects is tax increment financing (TIF). Tax increment financing is...more

Manatt, Phelps & Phillips, LLP

Enhanced Infrastructure Financing Districts: New Hope for Cities and Counties

Manatt, Phelps & Phillips, LLP on

On September 29, 2014, Governor Jerry Brown signed into law Senate Bill 628 (Chapter 785) which provides a mechanism for cities and counties to form Enhanced Infrastructure Financing Districts (EIFDs) to divert property tax...more

Eversheds Sutherland (US) LLP

Recent Amendment Implements Important Changes to the Georgia Brownfield Program

Eversheds Sutherland (US) LLP on

Effective on July 1, House Bill 957 (2014) (the “Amendment”) amended the Georgia Brownfield Act, O.C.G.A. § 12-8-200 et seq. (the Act). The Amendment broadens applicability of the Act, expands the pool of eligible parties...more

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