property tax

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Trump Wins Big Tax Case Over His Chicago Skyscraper

After years of legal wrangling, former president, investors to recoup $1M in property tax refunds

(Newser) - For more than a decade, former President Trump and other owners of the Trump International Hotel & Tower in Chicago have sought to recoup a hefty property tax refund on the building. Now, it looks like Trump can claim success in this longtime battle: On Monday, the Illinois Appellate Court...

This Penthouse Could Hold the Answer to NYC's Subway Woes

New York considers a pied-à-terre tax

(Newser) - Billionaire Ken Griffin made headlines in January when the Chicagoan purchased the penthouse at 220 Central Park South in New York City for $238 million, making it the priciest home ever sold in the US—by about $100 million. A rep for the Citadel hedge fund founder said he...

NJ and Hawaii: Thousands Apart, in Miles, Property Taxes

Garden State has highest US property taxes, Aloha State the lowest, based on median home value

(Newser) - What do Hawaii and New Jersey have in common? Probably not much, but especially when it comes to property taxes, per WalletHub , which says what you pay on your real estate can range from a "small inconvenience" to a "major burden." The Aloha State falls under the...

The 11 States With the Highest Property Taxes

New Jersey has the highest of them all

(Newser) - The average American household pays $2,197 in property taxes each year for their homes—but residents of some states are hit much harder than others. Red states, for example, have lower property taxes for real estate than blue states. WalletHub analyzed multiple factors to rank the 50 states plus...

Billionaire Rebels Against Taxes—Over Goose Poop
Billionaire Won't Pay Tax Bill
Due to 'Minefield of Poop'

Billionaire Won't Pay Tax Bill Due to 'Minefield of Poop'

Tom Golisano says infestation of geese is ruining his property, won't pay up until town fixes problem

(Newser) - Billionaire Tom Golisano says he tried stringing up fishing line, spraying smelly repellent, and even posting a wolf decoy, but nothing could rid his New York lakeside vacation home of the Canada geese that turned his lawn into a minefield of poop. His next line of attack? Refusing to pay...

Homeowners Who 'Outsmarted' IRS Get Rude Awakening

In the form of an IRS advisory about prepaying 2018 property taxes

(Newser) - Think you outsmarted the IRS? Maybe not. As news stories emerged about "unprecedented" lines forming at municipal offices as homeowners rushed to prepay 2018 property taxes before the new GOP tax bill goes into effect on Jan. 1, the Internal Revenue Service on Wednesday offered words of caution. With...

Homeowners Line Up to 'Postpone the Pain'

They're prepaying 2018 property taxes to avoid getting socked by deduction cap in new tax bill

(Newser) - While many people this week are queued up at retailers to return holiday gifts, "unprecedented" lines are forming at municipal offices around the country as homeowners hurry to prepay 2018 property taxes before the new GOP tax bill goes into effect on Jan. 1, reports the Wall Street Journal ...

With Trump Poised to Sign Tax Bill, Pity Long Islanders

Nearly half of homeowners there would be hit by property tax cap

(Newser) - "Today we are giving the people of this country their money back," proclaimed Paul Ryan Tuesday as the House passed a sweeping rewrite of the tax code (it has to vote again Wednesday because of this glitch ). That's likely not the case for current and future...

Judge: Widow's Home Can Be Sold Over $6 Tax Bill

He upholds decision that saw $280K home auctioned off

(Newser) - A Pennsylvania judge says he feels bad for a widow whose $280,000 home was sold at tax auction over an unpaid $6.30 bill, but he's not going to reverse the decision. Eileen Battisti had sought to reverse the 2011 sale of the home she still lives in,...

North Dakotans Decide to Keep Property Tax

Opponents said move would force hike in other taxes

(Newser) - Dumping their controversial "Fighting Sioux" nickname wasn't the only point of contention North Dakotans decided last night: Voters overwhelmingly, to the tune of 76% against, voted down a ballot measure that would have made it the first state in the nation to abolish its property tax, the New ...

Palins Haven't Paid Taxes on Vacation Cabins

Not ex-governor's job to report new buildings, her lawyer says

(Newser) - Records show that Sarah Palin hasn't paid any property taxes on cabins built on two backcountry plots partially owned by the former Alaska governor. There are no tax assessments for the two-story, house-sized cabins , a workshop and a sauna spotted today in an aerial survey. Property taxes totaling $156.13...

Pittsburgh Looks to Tax College Students

City hopes 1% tax on tuition will help replenish pension fund

(Newser) - Cash-strapped Pittsburgh has come up with a new tax targeting an unusual group: college students. The city is proposing a 1% tax on university and college tuition to cover a shortfall in its $600 million pension fund for city workers. Students at pricey universities like Carnegie Mellon would pay $400...

Plunging Property Taxes Bleed Government Coffers

(Newser) - From New York and Los Angeles to devastated Rust Belt towns, falling home prices are leaving local governments in a pinch, the New York Times reports. Desperate for extra cash, homeowners are petitioning assessors in droves to lower their property taxes and match property values. “It’s worthy of...

Schwarzenegger Blew Chance for Real Reform
Schwarzenegger Blew Chance for Real Reform

Schwarzenegger Blew Chance for Real Reform

Would-be savior turns out to be just another lying politician

(Newser) - Arnold Schwarzenegger came into politics with an uncommon opportunity to tell Californians hard truths about taxes and governance, using his surprising mandate to press for reform. Instead, he became just another governor repeating "the same lies and the same nostrums," pretending citizens can have good public services without...

Fed Dollars Overtake Taxes as States' Top Income Source

Federal money exceeds revenue from major taxes for first time ever

(Newser) - For the first time, state governments are receiving more money directly from the federal government than they collect in sales, property, and income taxes, reports USA Today. As the economic downturn saps tax revenue, stimulus money has filled the gap. Says an analyst, “This has more to say about...

Cindy's Considerable Coin May Cost Political Capital

McCain family not afraid to spend wife's millions; Dems may repay Kerry debt

(Newser) - Cindy McCain family's fortune—being used for campaign subsidies, hefty real-estate purchases, big credit card tabs, unpaid property taxes, and huge household help budgets—is raising eyebrows on the campaign trail, Kenneth Vogel writes in Politico. And Democrats seem ready to collect, with interest, on the scrutiny aimed at Teresa...

Mrs. Mac Pays Condo Taxes... 4 Years Late

Beer heiress never got San Diego property bills, aides say

(Newser) - A trust company overseen by Cindy McCain has paid almost $7,000 in overdue property taxes to San Diego County, after Newsweek began looking into unpaid bills on the condo. Government notices sent to a Phoenix address were returned by the post office; and the county claims that McCain owes...

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