The city of New Orleans needs approval from the State Legislature and the state's voters before it can implement tax relief measures meant to give more first-time homebuyers access to the housing market.
The city of New Orleans is pushing the state to allow property tax relief in neighborhoods where housing values are soaring—the proposal is designed to stabilize neighborhoods undergoing rapid investment and transformation.
A coalition of groups advocating for more funding for local communities and schools want to reform the landmark tax-cutting initiative by treating commercial and industrial properties different than residential, creating the so-called "split roll."
A new report by the Center for Budget and Policy Priorities finds major flaws with property taxes in several states, and proposes a solution that could mitigate the least desirable consequences of limits to property tax increases.
A ballot measure to enable older homeowners in California, particularly empty nesters, to downsize without losing their tax benefits granted to them by the 1978 Proposition 13, has qualified for the November ballot.
While the low income housing tax credit was retained, banks will be much less willing to purchase them due to their reduced corporate tax rate. That's just one way H.R. 1 will exacerbate divisions between the rich and poor in America's cities.
A proposed ballot initiative in California would extend the property tax limits offered by Proposition 13 as a lifetime benefit to homeowners over age 55 or severely disabled—even if they move to a new home in another part of the state.