United States: Property Taxes

New York's groundbreaking pied-à-terre tax takes effect July 1, 2026, imposing substantial surcharges on non-resident luxury second homes valued over $5 million. With a complex two-phase implementation, aggressive compliance deadlines, and penalties up to 50% for documentation errors, property owners face critical decisions about exemption eligibility and appeal strategies. Understanding the valuation methodologies, primary residence requirements, and procedural pathways is essential for high-net-worth

Recent legislative changes have fundamentally altered New Jersey's Mansion Tax, shifting payment responsibility from buyers to sellers and introducing a graduated fee structure for high-value real estate transactions. Understanding these changes is critical for anyone involved in property sales exceeding $1 million, as the tax can represent a substantial closing cost that affects deal economics and negotiation strategies.

The Supreme Court unanimously ruled on whether a Michigan county violated constitutional protections when it sold a foreclosed property at public auction for significantly less than its assessed value to satisfy a tax debt. The case examines the meaning of "just compensation" under the Fifth Amendment's Takings Clause and whether keeping proceeds beyond taxes owed constitutes an excessive fine under the Eighth Amendment.

Property owners in Westchester County face a rapidly approaching June 16, 2026 deadline to challenge their 2026 tax year assessments, with twenty-two of thirty assessing jurisdictions sharing this critical date.

New York State has enacted a controversial Pied-A-Terre Tax targeting non-primary residences in New York City valued above certain thresholds, creating unprecedented administrative burdens for cooperative boards...

The Qualified Opportunity Zone program has undergone a major transformation with the passage of the One Big Beautiful Bill, shifting from a temporary framework to a permanent fixture with enhanced incentives and new rural investment categories.

The Town of Huntington is reportedly considering a policy that would require developers receiving Payment in Lieu of Taxes (“PILOT”) benefits to make additional contributions intended to offset perceived impacts...

On Sunday, May 3, 2026, the Iowa Legislature approved one of the most significant overhauls of Iowa’s property tax and local government finance system in the state’s history.

Louisiana is aggressively pursuing aerospace industry businesses with newly enacted tax incentives that provide state and local sales/use tax rebates and extend property tax abatements to aerospace manufacturing facilities.