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D.C. Tax Surplus Prompts Call for Assessment Cap
New construction and rising values are leaving
Washington D.C. budget coffers flush with
better-than-expected property tax revenues.
Businesses pay much higher tax rates than homeowners and
D.C. Councilman Jack Evans believes business property
owners deserve a break. Evans tell the e-POER Report
that despite previous failures, he will continue to
push for an assessment cap on commercial property in the
District.
Get the full story
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Florida Businesses Lobby for Taxpayer Rights Legislation
The
Florida Legislature goes to work in another special
session this month. Since most property tax legislation
approved this year has benefited homeowners, business
groups are lobbying for change that will make the system
fair for all property owners.
The Florida Association of Property Tax Professionals is
leading the charge for many reform proposals to make
assessors and appeal boards more accountable and
simplify the appeals process.
Get the full story
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Kentucky
Higher Tax Bills Following Emergency Reassessment
Commercial property assessments increased as much as
120% for some taxpayers in Boone County (Covington), Kentucky this
year following a state-ordered reassessment.
Unfortunately, many companies missed the window of
opportunity to appeal.
While there is no recourse for correcting 2007 values,
businesses should start planning now to set matters
straight with their 2008 tax assessment.
Get the full story
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Michigan Approves Business Tax Act
Local and out-of-state companies doing business in
Michigan face a complex new set of property tax laws in
2008.
The new Business Tax Act will generate higher tax
revenues. However, much of the tax increase will be
given back to commercial and industrial property owners
who take full advantage of available credits and
exemptions.
Get the full story
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South Carolina Shifts More Tax to Businesses
Businesses and rental properties are bracing to shoulder
more of the tax burden, following last year's Property
Tax Reform Act that phases out school operating taxes
for homeowners.
Another change contained in the Act, which will likely
drive assessments up even further, requires properties
to be reappraised when an assessable transfer of
interest occurs.
A movement is now underway to provide tax relief for all
property owners by enacting government spending limits
at the state and local level.
Get the full story
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Texas
Higher Values = Higher Assessments
= Higher Taxes
North Texas property values are rising and tax rolls are
posting double-digit assessment increases. This all
translates into higher tax bills for many owners.
Mass appraisals cannot correctly value all properties
all the time. There are too many variables to consider.
That's why over assessment is such a big concern.
It's not too late to rectify the problem. In many
instances, property assessments can still be negotiated
even if they have been approved by appraisal appeal
boards.
Get the full story
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October 2007
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Florida Considers Revamping Tax System
UPDATE !
In last month’s e-POER Report, we told you about a
"super-sized" property tax exemption in Florida
scheduled to go before voters January 29.
Following our report, the proposed constitutional
amendment was struck from the ballot by a state judge
who called it confusing and misleading.
The Florida Senate has appealed the ruling. Meanwhile,
Gov. Charlie Crist has called the House and Senate into
a special session to try and find a
legislative solution to the problem of rising property
taxes.
We will keep you informed as this story evolves.
Daryl Haines, Editor
Marvin F. Poer & Company
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Have you
considered . . .
The True Cost of Property Tax Management?
The decision to
outsource all or some property tax compliance functions
should be based on sound financial considerations.
However, companies
often underestimate the "true cost"
of their property tax administration program.
Check out POER's
Personal Property Investment Analysis, designed to help
executives get a clear picture of their company's
True Cost of Property Tax
Management.
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