Property Tax Resources
Answer to a Question Posed to Members of the Real Estate Forum Editorial Advisory Board
"How will market conditions in 2014 be different from what we saw in 2013?"
Stephen H. Paul, Esq., President of APTC, answered as follows:
"As Congress has been prone to "kick the can" down the road on tough budget issues, I believe many financial institutions holding large amounts of real estate mortgage paper have been kicking the can down the road over the past few years on many of their loans that have been underwater for some time, extending balloon payback dates into the future in hopes of having their troubled properties recover from their lagging performance. At some point, these financial institutions will have to fish or cut bait as to those properties that haven't recovered during their period of leniency. To the extent these institutions swallow hard and take their hits, we could see a large number of properties come onto the market at attractive prices for investors during 2014 — a reprise of 2010-2012.
"As to those properties that have recovered during this forgiveness period, to the extent they come back to the market, if the they're higher quality retail and office assets, we could see some slight appreciation in prices during 2014, certainly in primary, and most probably in good secondary markets as well."
Real Estate Forum, December 2013
American Property Tax Counsel
Recent Published Property Tax Articles
North Carolina Allows Look-Back Tax Exemption For Religious Uses
Lawmakers allow retroactive property tax exemption on religious grounds.
North Carolina has little sympathy for taxpayers that miss filing deadlines, but a new law eases the potential repercussions for property owners otherwise qualifying for religion-based tax exemptions. Under the new measure, taxpayers can apply for the religious exemption from property taxes...
Read moreSubsidies Pose Property Tax Puzzle in Public-Private Partnerships
With the number of public-private partnerships for constructing public facilities on the rise, communities across the country wrestle with the question of how to treat such arrangements for ad valorem property tax purposes. In most instances, private developers and taxing entities take opposing positions on the issue.
Public-private joint ventures have...
Read moreWhen Property Tax Rates Undermine Asset Value
Rate increases to offset a shrinking property tax base will further erode commercial real estate values.
Across the country, local governments are struggling to maintain revenue amid widespread property value declines, as a result they are resorting to tax rate increases. This funding challenge increases the burden on owners of commercial...
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