with small tax tweaks
   A subtle change in how Cook County Assessor Fritz Kaegi evaluates mixed-use properties caused some increased valuations.
   Kaegi’s office is cracking down on the “apartment loophole” that allowed some buildings that were predominantly commercial be classified as residential — even in instances where there is one small, makeshift apartment in a building that is otherwise almost entirely commercial. Read more

Kansas House blocks bill bundling big-business

tax breaks with aid to disabled veterans
   U.S. Army combat veteran and state Rep. Patrick Penn begged Kansas House colleagues to reject a bill that featured a pair of controversial provisions slashing commercial property taxes and jeopardizing property tax relief for veterans with disabilities.
   He wasn’t alone in condemning negotiators willing to risk property tax reform for disabled veterans by including a provision granting giant retailers benefits from a “dark store” theory in which property tax assessments were calculated as if commercial buildings were vacant. Read more

Buyers of newly built homes can face a property tax surprise. Here’s why
   It’s not unusual for new homeowners to face financial surprises, but people buying a newly built home may be more likely to encounter sticker shock on a key expense.
   Almost 75% of recent homebuyers had regrets about their purchase, according to a 2023 survey from Real Estate Witch. Property taxes were the most common gripe, surprising 33% of new owners. Read more
 

Vermont lawmakers scramble to address property tax revolt. Will it be enough?
   As communities across the state continue to shoot down school budgets as part of a property tax revolt, Vermont lawmakers are scrambling to develop plans for both immediate property tax relief and longer term education finance reforms.
   “Costs have gone up for all Vermonters — including schools — and we want to make sure we’re balancing that,” House Committee on Ways and Means Chair Rep. Emilie Kornheiser, D-Brattleboro, said.
   Vermont now has the dubious distinction of being ranked as the third highest tax-burdened state — only behind New York and Hawaii — according to the New York Times.   

   And for property taxes alone, it comes in as second behind Maine. Read more

 

Boston city councilors raise questions about mayor’s property tax shift plan
   How likely is a potential downturn in Boston property values to mirror a crisis that prompted legislative action in 2004? Did Mayor Michelle Wu send the wrong message by proposing to rebalance commercial and residential taxes while also advocating for an 8% increase in city spending? Will workers eventually return to the office more regularly, or will the changes brought on by the pandemic be permanent?
   Those are just a few of the questions Boston city councilors will weigh as they continue their review of a plan Wu rolled out last month that would temporarily shift a greater share of the city’s property tax levy onto commercial owners. Read more