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#Property Taxes

Owners of some of the most expensive office towers in the Twin Cities are choosing to walk away from their properties instead of continuing to make loan payments.

Owners of some of the most expensive office towers in the Twin Cities are choosing to walk away from their properties instead of continuing to make loan payments.What's happening: The 30-story LaSalle Plaza in downtown Minneapolis is scheduled to go to auction next week after the previous owner, the Teachers’ Retirement System of the State of Illinois, avoided foreclosure by transferring the building to its lender, Northwest Mutual.Nearby Fifth Street Towers is facing the same fate and may also go back to its lender this month, according to Axios' sources who were not authorized to discuss the matter.Real estate experts...
MINNEAPOLIS, MN
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Why Chicago's property tax bills are so high

Source: Cook County Treasurer; Map: Erin Davis/Axios Visuals The Cook County Treasurer's Office released a scathing report this morning explaining why property tax bills have gone through the roof.Why it matters: The report says Chicago homeowners' median tax bill went up nearly 8% since 2020. Many residents already felt the sticker shock when bills went online in November, but others haven't yet seen them. The bills are being mailed to homeowners today. The intrigue: In stark contrast to Cook County Assessor Fritz Kaegi's promise during election season, most residential properties saw tax increases — while most commercial properties saw decreases....
CHICAGO, IL
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New luxury hotel coming to Ocean City, NJ

A historic bank building in Ocean City could be converted to a luxury boutique hotel. The seven-story Crown Bank building sits mostly vacant on the corner of Asbury Avenue and 8th Street. The building owner filed for bankruptcy last year. NJ.com reports the luxury resort brand Icona is expected to...
OCEAN CITY, NJ

Save Money it’s the Very Lowest Property Taxes in All of New Jersey

One thing that we always hear about here in the Garden State is "property taxes". According to Quicken Loans, "New Jersey, Illinois and New Hampshire top the list of states with the highest effective property tax rates. This means that, with the average home price in New Jersey at $500,628 in the first quarter of 2021, the homeowner would pay just over $10,660 in yearly property taxes."
NEW JERSEY STATE

Report: Maine permits 'equity theft' from homeowners

(The Center Square) – Maine is among a handful of states that allow local governments and investors to "steal" equity from homeowners who have fallen behind on their property taxes, according to a new report. The report by the nonprofit Pacific Legal Foundation found that Maine and 11 other states, plus Washington, D.C., have laws on the books that allow local governments or private investors to take more than what is owed from homeowners who are facing default on their property taxes. ...
MAINE STATE
fox32chicago.com

New property tax increases hit Hispanic wards hardest in Chicago

CHICAGO - Most Cook County property owners will see a larger tax bill this year, but owners in gentrifying Latino neighborhoods in Chicago will see some of the biggest hikes. Some will see tax bills three times as large. County Treasurer Maria Pappas released an analysis of the new tax...
CHICAGO, IL

New online tax system launches for PA businesses

PENNSYLVANIA (WTAJ) – Starting today, business taxpayers will have a new and improved online system to handle their registration, filing and payment obligations for Pennsylvania taxes. With myPATH now available to these customers, this system will be a one-stop shop for all Pennsylvania taxpayers. “This move to a new system is about contributing to Governor’s Wolf’s goal […]
PENNSYLVANIA STATE
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