Taxing Issues - Property Tax Blog » Chris Janata

Texas Property Tax Appeal Pilot Program – New Rules of Procedure for Appraisal Review Board Appeals

Chris Janata — Wed, 13 Jan 2010 15:35:24 +0000

Following up on our post Texas Property Tax Appeal Pilot Program, the State Office of Administrative Hearings (SOAH) has proposed new Chapter 165 (165.1 – 165.29) that clarifies the types and number of appeals that may be filed and establishes procedures for hearings on such appeals. For the first five-year period the new chapter is in effect there will be no fiscal implications for state or local governments as a result of enforcing it and no anticipated economic cost to individuals who are required to comply.

Bottom Feeding Investors & Commercial Real Estate

Chris Janata — Mon, 11 Jan 2010 17:26:12 +0000

“Bottom-feeding” investors a sign of stabilization? Foreign banks and US private equity firms are stimulating the U.S. commercial real estate sector. But rising interest rates may pose a threat.

WI Court Exceeded Authority by Using Internet to Research Property Value

Chris Janata — Fri, 08 Jan 2010 17:32:55 +0000

The Wisconsin circuit court review of a board of review’s decision is limited to the record made before the board, and the court may not conduct its own factual inquiry or admit any new evidence.

Sager v. Board of Review of Town of Taycheedah, Wisconsin Court of Appeals, No. 2009AP972, December 30, 2009, ¶401-273

Reporting Change of Ownership In California

Chris Janata — Thu, 17 Dec 2009 21:50:51 +0000

Senate Bill 816, effective January 1, 2010, could result in the imposition of significant penalties on unwary taxpayers for failing to report changes in control or ownership of legal entities in California. It imposes a new, automatic 10% penalty for failure to file a change-in-ownership statement to the State Board of Equalization (SBE) within 45 days. The penalty will be 10% of the taxes applicable to the new base year reflecting the change in ownership. Previously, the acquiring entity was required to file a change-in-ownership statement with the SBE. However, no penalty was imposed for not filing, unless the SBE specifically requested such a statement. SB816 changes all that. Now taxpayers will incur the penalty if they do not file within 45 days, regardless if the SBE requests the statement or not. If the SBE requests the statement, taxpayers must respond within 45 days, even if no change took place, to avoid incurring the penalty.