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    (The Center Square) – Municipalities across Pennsylvania now have more power to grant tax incentives to spur affordable housing, be they in major urban areas or rural enclaves. House Bill 581, sponsored by Rep. Jared Solomon, D-Philadelphia, became Act 58 when Gov. Tom Wolf signed it into law on Monday. It allows taxing authorities more options to pass tax abatements or incentives to build or fix up affordable housing. The bill found support in urban areas facing rising rent prices as well as rural areas where there are struggles to repair blighted properties. “The way this bill got done could be a model for how council and state can work together,” Solomon said. “The interesting twist with this bill is that people in Philadelphia will see, will feel the everyday impact. They will see a new affordable housing unit being constructed in neighborhoods where they have not been.” As The Center Square previously reported, housing prices jumped in Pennsylvania by 14% from 2020 to 2021. Many cities and counties in the state aren’t building enough houses or...
    MORE than 2million residents are set to receive some relief from sky-high property taxes. New Jersey Governor Phil Murphy has announced an expansion to the ANCHOR Property Tax Relief program, which will now provide more than $2 billion in tax relief for both homeowners and renters. 2Both homeowners and renters will be eligible for money under the programCredit: Getty Images - Getty Previously, the funding under the initiative provided a total of $900million or gave homeowners and renters up to $700 in cash relief. The revised ANCHOR (Affordable New Jersey Communities for Homeowners and Renters) Property Tax Relief Program will go into effect for the fiscal year 2023 (FY2023). The program will replace the Homestead Rebate Program, which serves 470,000 New Jersey homeowners every year - and excludes renters. The current program provides an average benefit of $626. READ MORE ON PAYMENTS CASH FOR PARENTS The five cities offering monthly payments worth up to $1,000EXTRA MONEY 41 cities and states offering universal basic income payments up to $18,000 New Jersey has the highest property tax rates in the US,...
    by Anthony Hennen   Spot assessments can be used across Pennsylvania to reassess a property’s value, resulting in higher tax bills for homeowners. According to a new report, Allegheny County’s school districts have driven an increase in spot appeals, increasing assessed values by almost $462 million. The result is that homeowners must pay more in taxes, incentivizing school districts to request a spot assessment. A report from the Allegheny Institute for Public Policy found that the county heard 10,226 appeals of assessed values, the highest number since 2014. The vast majority of properties – 81% – had their values increased. The pre-assessed value of $3.6 billion became a post-assessed value of $4 billion. That understates the change for residential properties, as 92% of properties were residential. Home values increased $558.7 million, whereas nonresidential assessments had a net decrease of almost $100 million. “With a long period since the last reassessment, changes in market value as indicated by recent sales typically drive governing body appeals,” wrote Eric Montarti, research director at the Allegheny Institute. As The Center Square previously reported, spot appeals in Pennsylvania function...
    THOUSANDS of low-income families in Minnesota may see up to $3,590 in property tax refunds. State lawmakers are proposing a refund relief program to help residents overloaded with their property tax bill. 1Minnesota lawmakers are proposing a property tax refund for low-income households The Minnesota House property tax division is reviewing two bills making their way through the Statehouse. The proposals come as inflation hit new highs in February - putting stress on household budgets. Housing prices continue to increase which means property taxes are rising, too. Property taxes in Minnesota are administered at the county level. Read more tax storiesCASHING IN When you’ll get your IRS tax refund in 2022 and how to track it explainedTAXING TIMES When are taxes due in 2022? State lawmakers, though, are working to boost the size of most Minnesotans' property tax refunds. More money for most One House bill would increase the maximum refund by $500 for all income ranges currently eligible for a property tax credit. Plus, it would push the income cap to receive a refund up to $155,000 from...
    MORE than 1.8million people living in New Jersey are set to receive some relief from sky-high property taxes. Governor Phil Murphy announced the ANCHOR Property Tax Relief program which will provide up to $900million in tax relief for both homeowners and renters. 1Both homeowners and renters will be eligible for money from the program The ANCHOR (Affordable New Jersey Communities for Homeowners and Renters) Property Tax Relief Program will go into effect for the fiscal year 2023 (FY2023). The program replaces the Homestead Rebate Program which serves 470,000 New Jersey homeowners every year, but renters are not eligible under that program. The Homestead Rebate Program provides an average benefit of $626. New Jersey has the highest property tax rates in the US, followed by Illinois and New Hampshire, according to a WalletHub report. Property taxes vary by city in New Jersey but on average runs about 2.4%, compared to the national average of 1.07%. To give some perspective, the rates mean a homeowner would pay about $12,000 on a $500,000 home. Most read in moneyNEW MONEY Surprise $175 payments on...
    New Jersey Gov. Phil Murphy delivers a victory speech on Nov. 3, 2021, in Asbury Park, New Jersey.Eduardo Munoz Alvarez | Getty Images Property tax relief may soon be coming to New Jersey. Gov. Phil Murphy has proposed the ANCHOR property tax relief program, extending savings to nearly 1.8 million households, as part of the state's 2023 fiscal year budget. Homeowners earning up to $250,000 per year may be eligible for rebates averaging $700, lowering the effective property tax rate to 2016 levels for many households, according to the plan. More from Personal Finance:IRS rule offers higher penalty-free withdrawals for early retireesThese 3 last-minute moves can still slash your 2021 tax billSold your home? Here's how to avoid a tax bomb this filing season Renters making up to $100,000 may also qualify for a rebate up to $250, to help offset higher housing costs. "This program will provide direct property tax relief to households regardless of whether they own or rent," Gov. Murphy said. "While the state does not set property taxes, we believe that we must take action to offset costs...
    TRENTON, N.J. (CBS) — New Jersey homeowners could get a break on the country’s highest property taxes. Gov Phil Murphy wants to give homeowners earning up to $250,000 a year an average rebate of $700. Renters who make up to $100,000 would also be eligible for a rebate of up to $250. “We want this to mean lasting relief that keeps families in their homes,” Murphy said. “They want relief that will allow them to anchor themselves in the communities they love.” New Jersey lawmakers have to approve the program before any rebates would be issued.
    TWO million Americans could get automatic checks worth $970 under a new proposal in New York. Governor Kathy Hochul is looking to use $2.2billion to provide property tax rebate checks to homeowners in the state. 1New York homeowners could be receiving new property tax credit checksCredit: Getty Images - Getty Mrs Hochul revealed her plans during her budget proposal on January 18, her first since taking office in 2021. She is calling for a $216.3billion budget in New York, which would be a 3.1% spending increase, boosting funding for property-tax relief and schools among other industries. The property tax relief would be known as the Homeowner Tax Rebate Credit and would be provided to low- and middle-income families. Seniors would also be eligible, as would New York City homeowners. Mrs Hochul is calling for this one-year program as an extension to the existing Property Tax Relief Credit Program, which expired after 2019. The benefit would be a percentage of the homeowners' existing STAR benefit, according to the proposal. Most read in MoneyMEAL DEAL How to apply for EBT and...
    Property tax revenues collected per capita in New York amounted to $3,025 in fiscal year 2018, the fourth highest level among the 50 states, according to a new Tax Foundation analysis. Fiscal year 2018 was the most recent year that such data was available, the foundation reported. Property tax collections made up 31.1 percent of the total state and local taxes and nearly 72 percent of local tax collections across the nation, according to the analysis. Nationwide, the average amount of property taxes collected per capita was $1,675, the study said, though the amount collected can vary significantly from state to state. Urban and higher-income areas generally pay higher property taxes, according to the Tax Foundation. The revenues fund local government services such as public education, roadways, public safety personnel and medical services. --- Property Tax Collections per Capita Among the States Rank State Property Taxes Collected per Capita 1 New Jersey $3,378 2 New Hampshire $3,362 3 Connecticut $3,107 4 New York $3,025 5 Vermont $2,738 ...
    A Democratic congressman is proposing retaliatory measures against Canada if it implements a tax that would affect U.S.-owned houses in the nation. Rep. Brian Higgins, a Democrat from New York, said the budget proposal from Canadian Prime Minister Justin Trudeau, which includes a national tax on vacant property owned by non-residents or non-Canadians, warrants a response from the United States. "I would rather not have to explore that in any more detail," Higgins, whose Buffalo district borders Canada, told Politico Wednesday. "The Canadians would be wise to just reevaluate this." NO DEAL YET ON REOPENING OF US-CANADA BORDER, TRUDEAU SAYS If approved, Canada's 1% tax would take effect on Jan. 1 of next year. Higgins previously suggested retaliatory measures against Canada, whose border is still closed amid the coronavirus pandemic, in a May 3 letter to Kirsten Hillman, Canada's ambassador to the U.S. "If the Government of Canada were to implement this 1% property tax as proposed without a categorical exemption for American property owners, as a member of the U.S. House of Representatives Committee on Ways and Means, I...
    The Financial Control Board (JCF) today approved a new financial plan Municipal Revenue Collection Center (CRIM) 2021 fiscal year It plans income 9 1,973 million In collections and reforms in five years. Like the financial plan for the central government, the financial institution unanimously approved the CRIM plan at the time. The monthly meeting was held this morning. According to the board, the financial document lists 11 projects that will strengthen the property tax system and translate into income. 9 1,973 million In the period between the fiscal year 2021 and 2026. Among the board’s actions – also proposed in the 2020 financial plan – is the sale of a portfolio of accounts receivable worth about $ 400 million to the public company, the correction of misappropriation of property taxes up to $ 466 million, the valuation of more than 17,000 assets not yet assessed by CRIM and the transfer of $ 26 million to the state-owned enterprise. May earn. At the end of the meeting, Natalie Zaresko, Managing Director of the Board, hoped that CRIM would be able to...
    New Hampshire ranks first out of the 50 states when it comes to taxpayer rate of return, according to a new analysis. The Granite State is 36th most dependent on those taxes and 9th in overall government services, according to personal finance website WalletHub’s Best & Worst Taxpayer Return on Investment for 2021 report. WalletHub compared the 50 states across the areas of health, safety, education, economy and infrastructure and pollution. New Hampshire has had to struggle as other states with the COVID-19 pandemic, relying on federal and state aid to mitigate its impact. But relying on more stable revenue sources like property taxes, instead of sales and income taxes help minimize revenue shocks, said John Kovari, University of Wisconsin-La Crosse associate professor. WalletHub reached out to Kovari and other financial experts asking a series of questions as to how consumers can measure the efficiency of how their money is used. “There are of course many highly personal reasons for people choosing to locate where they live and work, and there’s a variety of...
    Property taxes in New Jersey are the highest nationwide, according to a recent that compared home and vehicle taxes across the country. WalletHub placed New Jersey as the highest in the country in real estate taxes, with a 2.49% real estate tax rate. Homeowners will pay $8,362 in property tax on a median priced home of $335,600. Industry experts suggest homeowners can write off some or all of their property taxes on their income taxes depending on their state’s tax rate and home value. "Unfortunately, living in the Northeast has become a very expensive proposition if you want to own properties," said Ralph DiBugnara, president of Home Qualified and senior vice president at Cardinal Financial on Realtor.com. "But homeowners should be aware of what they can write off when it comes to homeownership, especially in these high-tax areas." DiBugnara advises if a home is worth $500,000 or below, homeowners should be able to write off all of their property taxes, but if it is above $500,000 and in a state with tax rates around 2 percent,...
    By Peter Eisler and Jason Szep (Reuters) - The Manhattan District Attorney’s Office has subpoenaed a New York City property tax agency as part of a criminal investigation into Donald Trump’s company, the agency confirmed on Friday, suggesting prosecutors are examining the former president’s efforts to reduce his commercial real-estate taxes for possible evidence of fraud. The subpoena is the latest indication that Manhattan District Attorney Cy Vance Jr. is looking at the values Trump assigned to several commercial properties in tax filings and loan documents. Along with information already subpoenaed from creditors, the tax agency documents would help investigators determine whether Trump’s business inflated the value of his properties to secure favorable terms on loans while deflating those values to lower tax bills for those same properties. New York City Tax Commission President Frances Henn confirmed the subpoena in response to an inquiry from Reuters. The subpoena likely would compel the agency to provide detailed income and expense statements the Trump Organization would have filed as part of an effort to lower tax assessments on some of its commercial...
    Home sales in the Hamptons ended 2020 at a 15-year high, in a seller's market fueled by wealthy New Yorkers fleeing to the affluent enclave. The Hamptons registered 803 home sales during the fourth quarter, double the number from the prior year and the fastest pace since 2007, according to a report from Douglas Elliman.  The median sales price for homes in the Hamptons surged 55 percent, to $1.4 million, driven by a shift toward luxury mansions. It comes as New Yorkers fleeing rising crime and pandemic concerns in the city increasingly look to the Hamptons as a year-round residence rather than a summer retreat -- but experts warn than as vaccines become widespread the trend might not continue.  The Hamptons registered 803 home sales during the fourth quarter, double the number from the prior year and the fastest pace since 2007 This Southampton mansion sold for $21 million in October, as the Hamptons market remains hot with transactions at a 15-year high in the final quarter of 2020 RELATED ARTICLES Previous 1 Next ...
    OMAHA, Neb. (AP) — Nebraska taxpayers who want to claim an income tax credit for some of the property taxes they paid have a new tool to help them calculate what they're owed. State tax officials and Gov. Pete Ricketts announced the new online service on Wednesday. It's available at the state Department of Revenue's website, http://revenue.nebraska.gov. The feature on the website is called the Nebraska School District Property Tax Lookup Tool. Taxpayers who want to find what they're owed need to plug in the county where their property is located, the parcel number for the property and their property tax statement year. Nebraska State Tax Commissioner Tony Fulton said the tax credit is refundable, so taxpayers who don't owe additional money to the state can use it to get a tax refund. Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Tags: Nebraska, Associated Press
    After a referendum effort to repeal Nashville’s 34% property tax increase and limit city officials' spending died in court last fall, the attorney behind the effort has launched a new petition aimed at Nashville Metro government. Jim Roberts is collecting signatures for a new petition, proposing six amendments to the Metro Charter, including a limit on city property tax increases and the elimination of lifetime benefits for city officials. Roberts collected more than 20,000 voter signatures last summer in support of a similar petition. Citing legal issues with the ballot proposal, Davidson County Election Commissioners asked a judge whether a special election was required. After the ensuing trial, Chancellor Ellen Hobbs Lyle ruled the proposed amendments were unconstitutional and not in proper form. Roberts has been at work since then writing a new petition to accomplish similar goals as last year's petition and sent 215,000 petition mailers to mailboxes in Nashville this week. “We took everything they said that was supposed to be in there, and we put it in there,” Roberts told The Center Square,...
              Live from Music Row Tuesday morning on The Tennessee Star Report with Michael Patrick Leahy – broadcast on Nashville’s Talk Radio 98.3 and 1510 WLAC weekdays from 5:00 a.m. to 8:00 a.m. –  host Leahy welcomed Nashville attorney Jim Roberts to the newsmakers line. During the first hour, Roberts outlined the background and reasoning for the new launch of the Taxpayer Protection Act citing the adjustments that needed to be made to appease the courts. He added that the petition now includes six amendments all of which must be denied in order for there not to be a vote, therefore, making it more difficult to be kept off the ballot. Leahy: We are joined on the newsmaker line by our very good friend and the most persistent man in Tennessee, attorney Jim Roberts. Good morning, Jim. Roberts: Good morning to you. Leahy: Well, well, well, I have gone to the website. You can get there at the number 4goodgovernment.com or just go to your search engine and plugin Nashville Taxpayer Protection Act and lo and behold...
    Reuters February 9, 2021 0 Comments As former U.S. President Donald Trump goes to trial this week in the Senate on charges of inciting the Jan. 6 Capitol insurrection, criminal and civil investigations into his businesses are accelerating in New York. Manhattan prosecutors probing Trump’s real-estate business for possible insurance and tax fraud have stepped up witness interviews in recent months and hired forensic accountants, four people familiar with the criminal probe told Reuters. A separate state attorney general’s civil probe into whether the business falsely reported property values got a boost on Jan. 29, when a New York Supreme Court judge ordered the Trump Organization to turn over documents. A U.S. Supreme Court decision is expected soon on whether Manhattan District Attorney Cyrus R. Vance Jr can obtain eight years of Trump’s tax records and other financial information from accounting firm Mazars. Two people familiar with the district attorney’s criminal probe expect the court to act this month. Both the district attorney and the attorney general are focused in part on whether Trump’s businesses improperly falsified values on...
    By Jason Szep, Joseph Tanfani and Peter Eisler (Reuters) - As former U.S. President Donald Trump goes to trial this week in the Senate on charges of inciting the Jan. 6 Capitol insurrection, criminal and civil investigations into his businesses are accelerating in New York. Manhattan prosecutors probing Trump’s real-estate business for possible insurance and tax fraud have stepped up witness interviews in recent months and hired forensic accountants, four people familiar with the criminal probe told Reuters. A separate state attorney general’s civil probe into whether the business falsely reported property values got a boost on Jan. 29, when a New York Supreme Court judge ordered the Trump Organization to turn over documents. A U.S. Supreme Court decision is expected soon on whether Manhattan District Attorney Cyrus R. Vance Jr can obtain eight years of Trump’s tax records and other financial information from accounting firm Mazars. Two people familiar with the district attorney’s criminal probe expect the court to act this month. Both the district attorney and the attorney general are focused in part on whether Trump’s businesses improperly...
            by Scott McClallen  The Michigan tax code is finally aligned with a 2020 Michigan Supreme Court ruling that prohibited county treasurers from pocketing excess equity when foreclosing on tax-delinquent homes. The ruling followed Oakland County seizing Uri Rafaeli’s property in 2014 over an initial tax debt of $8.41, which rose to $285.81 after interest, penalties, and fees. Oakland County sold the property for $24,500 – more than $35,000 less than Rafaeli paid for it – and then pocketed $24,214. Rafaeli was left empty-handed. But now, there’s a new avenue through which those with a financial interest in foreclosed properties can claim and possibly get a payout. Here’s how it works: – County treasurers notify property owners of foreclosure. The delinquent tax process is a roughly two-year cycle. – The property owner has until July 1 of the foreclosure year to submit a form to the county treasurer that’s filed with the circuit court in charge of hearing the foreclosure case. – After the foreclosure sale and any additional debt is paid, including taxes, interest, penalties, and fees,...
    ROCKVILLE CENTRE, N.Y. (CBSNewYork) – School tax bills come twice a year. In Nassau County, the first half is arriving now, reflecting new valuations, following the controversial property tax assessment, and more than half of those bills are going up. As CBS2’s Jennifer McLogan reports, the Kelleher family of Rockville Centre got some sticker shock when their school tax bill arrived. “When we got the bill, it actually went up $800. So it’s a hole in our budget that’s already tight. College is expensive,” said homeowner Charles Kelleher. “I feel really bad. We are doing all that we can. Hopefully I can contribute some too,” said college sophomore Erin Kelleher. Sixty five percent of Nassau County homeowners will pay more in school taxes this year – the most direct impact of the county-wide property reassessment. Tax rolls had been frozen for eight years under the Mangano administration resulting in uneven distribution of the property tax burden. More: Nassau County Judge Dismisses Property Tax Lawsuit Claiming New Assessments Violate Constitutional Rights “We had a broken and corrupted tax assessment system and I...
    Proposition 19, billed as “The Property Tax Transfers, Exemptions, and Revenue for Wildfire Agencies and Counties Amendment,” passed with  51.1% of California voter approval in November. As a result, 2021 will see sweeping changes in property taxes assessed on personal residences. There’s good and bad news. Let me note here that I’m going to simplify the math. Your tax base is the assessed value — the value listed on your property tax bill on which the property tax is calculated. It is typically the fair market value of your home at the time you bought it, adjusted annually by the 1% allowed under Proposition 13 and local taxes and assessments. For the examples below, I’m using the purchase price as the “property tax base.” The good news For residents age 55 and older, severely disabled, or a victim of a wildfire or natural disaster, there is much to like about Prop. 19. Effective April 1, 2021, those eligible homeowners can sell their homes and take their property tax base with them to any other property they buy for the same...
    CHICAGO (WLS) -- Christmas came early after an agreement was made to avert any layoffs for Chicago city workers.Lightfoot presented her 2021 budget last month. She said it would include a property tax increase and layoffs to address the city's more than $1 billion budget deficit amid the COVID-19 pandemic.RELATED: Chicago budget for 2021 features property tax increase, layoffs in Mayor Lightfoot's proposalEMBED More News Videos The Chicago budget for 2021 includes a property tax increase and layoffs to deal with a $1.2 billion deficit, according to Mayor Lori Lightfoot's budget proposal. It had included $106 million in personnel cuts through eliminating, vacant positions, layoffs and furloughs.Now money from the sale of cannabis will be used so protect those city jobs.A joint statement from Mayor Lori Lightfoot and Chicago Federation of Labor President Bob Reiter was released Saturday afternoon."After many productive conversations, we have come to an agreement to avert any layoffs of City workers in the 2021 budget. This will ensure Chicago's public workers, the backbone of our neighborhoods, maintain their jobs and health insurance while also protecting the...
    California voters have approved a new property tax break for older homeowners in the state, easing their tax burdens if they move. The success of Proposition 19 means that those 55 and older will be able to blend the taxable value of their old home with the value of a new, more expensive home they purchase, resulting in property tax savings that could reach thousands of dollars a year. Check this page for live California election results Check this page for live California election results As part of the measure, children who inherit their parents’ houses will no longer receive a property tax break if they intend to keep it as a second home or rent it out. The election was close. Just over 51% of voters supported Proposition 19 when the Associated Press called the race Wednesday evening, more than a week after election day, when returns showed the measure had a lead of more than 300,000 votes. “Voters passed Proposition 19 because it is a win-win for California, providing needed housing and...
    Liam Dillon A new property tax break for older California homeowners, easing their tax burdens if they move, is leading in early returns Tuesday night. Should the results hold and Proposition 19 succeeds it would mean that those 55 and older will be able to blend the taxable value of their old home with the value of a new, more expensive home they purchase, resulting in property tax savings that could reach thousands of dollars a year. As part of the measure, children who inherit their parents’ houses would no longer receive a property tax break if they intend to keep it as a second home or rent it out. Currently, older homeowners have a one-time opportunity to retain their existing tax benefits if they move to a home of equal or lesser value within the same county. They can do the same when moving between Los Angeles and nine other counties. If they didn’t meet those requirements or moved to a more expensive home, they would have to pay the full amount in property taxes. If Proposition 19 wins,...
    Gov. Andrew Cuomo and President Trump made sure to protect tenants by banning evictions during the pandemic, but public officials have done almost nothing for property owners. That’s inviting disaster. Many of these landlords, particularly mom-and-pop small-building owners, have been struggling for months to make ends meet as the COVID crisis drags on. Thousands of tenants haven’t paid full rent. Others, looking to escape the virus, violent crime and plunging quality of life, have fled, pushing up the vacancy rate and forcing owners to grant concessions. Meanwhile, landlord bills — including property taxes and water and sewage fees — have mounted, without letup. Cleaning and other costs have actually soared, thanks to the pandemic. The latest nightmare: an upcoming tax-lien sale, where the city sells owners’ unpaid tax bills to a third party, which then moves to collect on them, along with 18 percent interest charges. Waves of foreclosures may soon follow. Cuomo had placed a moratorium on lien sales, but it expires Tuesday. That could spell doomsday for owners on the hook. And not just small landlords, but also...
    New York City and New York state have suffered a combined loss of more than three-quarters of a billion dollars in property tax revenue over the past year, according to a report from a real estate trade organization. The report from the Real Estate Board of New York paints just how devastating the COVID-19 crisis has been to the city and state since the pandemic began in March. The board’s report indicates that compared to March-September 2019, investment and residential property sales dropped by 48 percent. Comparing the year-to-date totals from this year to last, the decline in sales has led to a $755 million decline in tax revenue generated for both the city and state. The slumping property sales are especially critical considering that property taxes make up the majority of the city’s tax revenue. At 53 percent, the property tax share is about two-and-a-half times the percentage generated by the city’s personal income tax. In the 2020 fiscal year, property taxes contributed nearly $32 billion toward the city’s overall budget, which was more than $92...
    New York (CNN)Eric Trump, who runs day-to-day operations of the family real estate empire, is scheduled to sit for a deposition on Monday as part of the New York attorney general's investigation into whether the Trump Organization improperly inflated the value of its assets to obtain loans or tax benefits.The deposition follows a court battle over whether he would sit for testimony and provides a key step in the New York civil investigation into the Trump Organization.Trump, the middle son of President Donald Trump and executive vice president of the Trump Organization, has taken over day-to-day operations of the real estate business since his father became president. His deposition schedule was disclosed in a court filing made on Friday.New York lawyers have said they want to interview Eric Trump as part of their investigation into whether the Trump Organization and Donald Trump "improperly inflated the value of Mr. Trump's assets on financial statements in order to secure loans and obtain economic and tax benefits."One specific area that investigators are looking into is a conservation easement Trump took for Seven Springs....
    MASSAPEQUA, N.Y. (CBSNewYork) — A judge has dismissed a homeowner’s lawsuit that alleged Nassau County‘s new tax assessments violate his constitutional rights. Sean McCarthy, of Massapequa, will have to pay $11,000 more in property taxes than his neighbors on his newly built home. MORE: Quirk In Nassau County’s Property Tax Assessment Sticks Homeowners With Shockingly High Bills; ‘It Equates To Legalized Stealing’ The county’s five-year phase-in for new tax assessments does not apply to new constructions. The judge ruled the different tax burdens are not unconstitutional. McCarthy says he will appeal. You can get the latest news, sports and weather on our brand new CBS New York app. Download here.
    Sign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York City Thousands of homeowners were spared another financial burden after Governor Andrew Cuomo issued an executive order stopping the city’s tax lien sale on Friday.  Every year, the city’s Department of Finance sells the tax lien claims of homeowners who have been unable to pay property or water bills to private debt collectors. The sale was scheduled to take place on May 15. but was postponed until Friday, Sept. 4. due to the novel coronavirus pandemic.  “It is the responsibility of government to relieve the financial hardships of the people wherever possible, not exacerbate them,” said Attorney General Letitia James in a joint statement with the governor’s office. James recently joined a coalition of activists and over 50 other elected officials in calling for the removal of close 4,700 low-income homes located in the neighborhoods hardest hit by the novel coronavirus pandemic. Buildings on the sale list are traditionally disproportionally located in communities of color.  “COVID-19 caused enormous disruption in the daily...
    Igor Derysh September 2, 2020 6:25PM (UTC) IRS Commissioner Charles Rettig has earned at least $100,000 per year renting out properties at a Trump-branded resort in Hawaii, according to his financial disclosure. Rettig, who was appointed by President Trump in 2018, earned between $100,000 and $200,000 per year from his 50% ownership in two units at the Trump International Waikiki over the last two years, according to an analysis of the disclosure by the government watchdog group Citizens for Ethics and Responsibility in Washington. : Rettig has held a stake in the units since 2006, three years before the property opened. Rettig did not disclose the link to the Trump-branded property in the financial disclosure, simply listing them as "Residential Real Estate" and "Residential Real Estate (2)" in Honolulu. Trump, of course, has refused to divest from his company and therefore continues to profit from the property as well. CREW noted that 10% of the price Rettig paid to purchase the units went directly to the Trump Organization. Trump, who has repeatedly made taxpayer-funded trips to his properties, visited the Waikiki resort...
    By GRANT SCHULTE, Associated Press LINCOLN, Neb. (AP) — Attempts to lower Nebraska's property taxes appeared to stumble yet again Wednesday after some state lawmakers argued that the newest package could hurt local K-12 schools by restricting their ability to tax. Senators debated the bill for about three hours but ended up skipping over it without a vote, leaving its prospects unclear. The only way it's likely to return to the Legislature's agenda now is if leading supporters can show they have at least 33 votes to overcome a filibuster, a tall order given the opposition to the bill. “It appears to me that we are heading toward an impasse,” said Sen. Matt Williams, of Gothenburg. “If that horse can’t finish the race, we need to saddle up a horse that can finish the race.” The proposal would substantially boost state funding for Nebraska's K-12 public schools, which are by far the largest consumers of property tax revenue. Farmers, ranchers and homeowners argue that rising property valuations have shifted an ever-larger share of the cost onto their shoulders, especially in...
    Black families pay 13 percent more in property taxes each year than white families in the same financial situation, a new study found.  According to a new working paper by economists Troup Howard of the University of Utah and Carlos Avenancio-León of Indiana University obtained by The Washington Post, Black-owned homes are more likely to be assessed at higher values relative to their sale price. The economists assessed sales data for 118 million homes throughout the country over the past decade. In nearly every state, tax assessments were higher in areas with higher Black and Hispanic populations. Combined, Black and Hispanic people pay 10 percent higher property taxes than white people. Researchers excluded California from the study because Proposition 13, passed in 1978, changed the way property is valued there compared to the rest of the country. These inequities result in Black and Hispanic Americans paying more in taxes but historically having less access to public resources. Black and Hispanic Americans also earn lower wages on average, making high property taxes a larger financial burden. Dorothy Brown, an Emory University...
    Several city lawmakers revolted during a routine meeting Thursday — refusing to support bills that would hit property owners with interest rates on late tax payments of up to 18 percent, arguing that the “usurious” fees would cause the middle class to flee the city. An unexpected floor amendment brought by City Councilman Kalman Yeger (D-Brooklyn) would have reduced the late fees to 0-to-2 percent, providing relief to property owners struggling to pay real estate taxes during the pandemic. “The city does not have to rely on New Yorkers to fund a loan sharking operation in essence with these usurious rates,” Yeger charged during a council-wide vote. His Democratic Queens colleague, Bob Holden, said the bill would fuel the exodus of Gotham taxpayers sparked by the coronavirus pandemic and Mayor Bill de Blasio’s indifference to the concerns of the middle class. “The middle class in this city continues to be treated as a cash cow. It’s no wonder people are fleeing the city,” Holden said. Fellow Queens Democrat Peter Koo fumed, “We are tired of people peeing on the...
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