A bill in New York State, awaiting the governor’s signature and sponsored by State Senator Sean Ryan, aims to alleviate the financial burden on homeowners by adjusting the property tax rate on overdue payments to reflect current economic conditions. Key Provisions of the Bill The primary provision of the New York bill is to reduce the interest rate on delinquent property taxes. The bill aims to provide significant financial relief to homeowners who are behind on their property tax payments by aligning the interest rates with the current prime rate. This adjustment is intended to make it easier ..read more

Record Budget and Key Features Governor Phil Murphy signed a $56.6 billion state property tax budget for New Jersey, the highest state spending plan in history. The budget determines the allocation of taxpayer money for the fiscal year beginning July 1 and includes: New tax hikes on large companies. Substantial investments in property tax relief. Significant funding for public schools and pensions. The spending plan is $758 million larger than Murphy’s initial proposal and $2.3 billion more than the current state budget signed last June. This budget reflects a concerted effort to address lon ..read more

Overview of Industrial Space Availability South Florida’s industrial market is currently facing challenges with a significant number of large vacant warehouse spaces. Data from Cushman & Wakefield shows that 48 industrial spaces larger than 100,000 square feet are available, totaling over 10 million square feet. This surplus is beginning to affect the overall market, with significant implications for the region’s industrial real estate sector. South Florida Market Dynamics and Rising Vacancy Rates The pandemic-era surge in South Florida’s industrial market has significantly receded, leavin ..read more

Current Law and Its Impact Iowa Property Tax Levy Limits The 2023 law requires Iowa county officials to adhere to strict limits on the general property tax levy and the levy for rural services. These limitations have posed challenges for many counties, affecting their ability to generate necessary revenue. Road Use Tax Fund Concerns Officials in approximately a dozen counties have reported a reduced share of funds from the state’s Road Use Tax Fund due to the new Iowa property tax calculations. These reductions result from the changes brought about by the 2023 law, which has recalibrated how p ..read more

On June 12, 2024, Matador Resources Co., headquartered in Dallas, announced a significant expansion of its operations by acquiring a unit from Ameredev for $1.9 billion in cash. This strategic move aims to enhance Matador’s footprint in the Delaware Basin, a critical area within the broader Permian Basin in West Texas and Southeast New Mexico. The acquisition aligns with Matador’s long-term strategy of expanding its resource base and production capacity in key oil-producing regions. Detailed Acquisition Components The transaction involves: Acquiring oil and natural gas-producing properties, a ..read more

The Miyako Hotel in Plano is set to combine Japanese and Southern-style design, providing a unique experience for its guests. Located near Toyota’s North America headquarters on the south side of Campus at Legacy, this hotel aims to serve both Japanese employees and the broader public. The project is anticipated to open in mid-2027 and has attracted attention for its cultural integration and design. Hotel Development and Design Process Garfield Public-Private LLC has been appointed as the developer for the Miyako Hotel, marking progress five years after the project’s initial announcement. This ..read more

Background and Introduction In 2023, the Colorado General Assembly enacted legislation granting the Colorado Energy and Carbon Management Commission (ECMC) authority over wells injecting and permanently sequestering carbon dioxide (CO2). This legislative action was part of the state’s broader strategy to address climate change and manage carbon emissions effectively. Building on this foundation, the Colorado General Assembly is considering HB24-1346, introduced at the end of February 2024. The bill proposes further expansion of ECMC’s authority over carbon management activities, with its first ..read more

In September 2023, Bleeding Heartland posted estimates of proposed water use for thirteen partner ethanol plants along the Summit Carbon pipeline. These estimates, based on the testimony of James “Jimmy” Powell, Summit’s Chief Operating Officer, included the Absolute Energy St. Ansgar facility, which Summit Carbon announced had been added to the route in June 2023. Since then, the number of ethanol plants on the proposed Iowa route has increased to 30 with the inclusion of the POET and Valero facilities. This expansion has significantly altered the water use landscape for the project, raising ..read more

Hillsborough County commissioners have approved a pilot program for carbon capture despite local environmental groups’ opposition. With a 5-2 vote, the proposal allows LowCarbon to build a facility to capture carbon dioxide emissions from the county’s waste-to-energy plant in Brandon. Key Points of the Proposal – Purpose: Capture 1 ton of carbon dioxide daily from the waste-to-energy plant. – Technology: Carbon capture to convert CO2 into calcium carbonate, a potentially profitable byproduct used in construction. – Cost: No cost to the county for the pilot; potential revenue generation if the ..read more

The recent decision by the Ohio Fifth Appellate District Court in the Olentangy Local School Dist case. Bd. of Edn. v. Delaware County Board of Revision, 2024-Ohio-1563  has significant positive implications for property owners in Ohio. The court affirmed the dismissal of the Olentangy Local School District Board of Education’s complaints challenging the 2022 tax value of specific fundamental properties. This ruling ensures that the Ohio Board of Tax Appeals’ decisions are not subjected to unfair and potentially endless appeals, providing stability and fairness for property owners ..read more