Searching Content indexed under Property Taxes by Grant Thornton LLP ordered by Published Date Descending.
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Michigan Supreme Court Clarifies Eligibility Requirements For Charitable Institution Property Tax Exemption
On June 28, 2017, the Michigan Supreme Court unanimously held that a charitable institution that imposes certain restrictions or conditions on its beneficiaries may still qualify for a property tax exemption...
United States
8 Sep 2017
Florida Enacts Legislation Reducing Commercial Rent Tax Rate
On May 25, 2017, Florida Gov. Rick Scott signed legislation adopting the reduction of the state's sales tax on non-residential leases and licenses of real property. The rate is reduced from 6% to 5.8%...
United States
7 Sep 2017
California Holds Documentary Transfer Tax Can Apply To Transfers Of Interests In Legal Entities That Own Real Estate
On June 29, 2017, the California Supreme Court held that the documentary transfer tax may apply to transfers of interests in legal entities that own real estate.
United States
1 Aug 2017
Virginia Enacts Tax Legislation, Including Expansion Of Nexus For Out-Of-State Sellers
During February and March 2017, Virginia Governor Terry McAuliffe signed multiple tax bills into law that make changes to the state's income; sales; property; and business, professional...
United States
28 Apr 2017
Temporary And Final Rules Focus On Transfers Of Property By US Persons To Partnerships With Related Foreign Partners
The IRS and Treasury Department recently issued temporary regulations (T.D. 9814) and, by cross-reference, proposed regulations (REG-127203-15)...
United States
15 Feb 2017
Proposed Rules Complicate Valuation Discounts On Transfers To Family-Controlled Entities
Treasury and the IRS issued long-anticipated proposed regulations on Aug. 2 that are designed to curb potentially abusive valuation discounts claimed by taxpayers when interests in family-controlled entities are transferred.
United States
19 Aug 2016
Tax Court Rules Collapse Of Improperly Maintained Retaining Wall Is Not A Casualty
The Tax Court held that the collapse of a poorly maintained retaining wall after a spring with heavy rain is not a casualty within the meaning of Section 165(c)(3) and the taxpayer is not entitled to a...
United States
8 Aug 2016
New Jersey Tax Court Holds Hospital Unable To Claim Exemption From Property Tax
The New Jersey Tax Court recently held that a nonprofit hospital was not entitled to an exemption from property tax assessed by the town of Morristown for the 2006-08 tax years.
United States
27 Apr 2016
Illinois Appellate Court Finds Hospital Property Tax Exemption Unconstitutional
The Illinois Appellate Court has held that a statutory exemption for hospital property based on the value of the charitable services the hospital provided was unconstitutional.
United States
12 Apr 2016
Ohio Supreme Court Holds Implied Use Restriction In Property Tax Exemption For Schools No Longer Exists
The Ohio Supreme Court unanimously has held that real property owned by a public school district's board of education was exempt from property tax, regardless of how the property was used.
United States
5 Apr 2016
Chicago City Council Approves Budget Significantly Raising Property Taxes
On October 28, 2015, the Chicago City Council approved Mayor Rahm Emanuel's spending plan and proposed revenue package for the 2016 fiscal year that runs from January 1 through December 31, 2016.
United States
20 Nov 2015
Kansas Enacts Tax Legislation Including Sales Tax Increase And Tax Amnesty Program
Kansas has enacted legislation that includes tax increases and adjustments to address an anticipated $400 million budget deficit.
United States
10 Jul 2015
Senate Tax Writers Seek To Cut Alternative Fuel Taxes And Ease FIRPTA Burdens On REITs
The Senate Finance Committee approved a package of 17 relatively noncontroversial bills last week that includes provisions to ease restrictions under the Foreign Investment Real Property Tax Act of 1980...
United States
5 Mar 2015
Oregon Supreme Court Rules Cable And Internet Services Subject To Central Assessment
On October 2, the Oregon Supreme Court ruled that property used by a taxpayer to provide cable television and Internet access services was subject to central assessment for property tax purposes, and therefore its intangible assets were subject to tax.
United States
18 Dec 2014
Texas Court Rules Natural Gas Destined For Interstate Commerce Properly Subject To Local Property Tax
The Texas First Court of Appeals has ruled that the owner of natural gas stored in a Texas reservoir was properly assessed local property tax, regardless of whether the gas was sold in interstate commerce.
United States
6 Nov 2014
Texas District Court Rules School Finance System Is Unconstitutional
On August 28, Judge John Dietz of the 250th District Court ruled that the method the state of Texas currently uses to finance public schools is unconstitutional in several respects.
United States
10 Oct 2014
House Votes To Make Bonus Depreciation Permanent
The House passed a measure to make bonus depreciation permanent by a vote of 258–160 on July 11.
United States
24 Jul 2014
Vermont Enacts Various Tax Provisions, Including Five-Year Consolidated Return Election Requirement
On June 5, Vermont Governor Peter Shumlin approved a measure including numerous tax provisions.
United States
4 Jul 2014
Illinois Enacts Legislation Changing Imposition Of Sales And Use Tax On Leased Motor Vehicles
Illinois has enacted legislation that imposes sales and use tax on the lease stream of motor vehicles that are sold on or after July 1, 2014.
United States
22 May 2014
Indiana Enacts Legislation Reducing Business Taxes
Indiana Governor Mike Pence approved legislation that contains a number of significant changes that will affect businesses operating in Indiana.
United States
29 Apr 2014
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