While Silicon Valley remains the nation’s most vibrant tech center, the area's innovative spirit is spreading across America. More than two-thirds of tech workers now feel little or no need to live in the Bay Area, and talent is migrating to new metropolises. Below are 2017’s Top 5 tech meccas looking to overthrow Silicon Valley, according to Forbes.
After threats of a special session from Lt. Gov. Dan Patrick, the Texas House unanimously approved the property tax reform legislation – but omitted the provisions that he wanted included and the Senate considered vital. The lower chamber stripped Senate Bill 2 of the provisions that would require cities and counties to get voter approval for their property tax rates if revenues exceed 5 percent compared to what the entities collected the year before. The House's version leaves that "rollback" threshold at 8 percent — and only triggers an election if constituents successfully petition for a vote.
Many commercial real estate investors have been sitting on the sidelines so far this year due to high prices, a lack of properties on the market, and uncertainty surrounding interest rates and federal policy. The investment sales market has been off to a very slow start compared to 2016. The volume of apartment properties of all types bought and sold in January and February was less than half compared to the year before. Student housing, however, is beating the trend. If investors keep buying and selling student housing at this rate, they will match the record-setting acquisition volume of 2016, despite a long list of larger market challenges that could have slowed the pace of transactions.
The Texas Senate and House are closer to resolving two key issues holding up the final approval of property-tax reform and the state budget, legislative leaders said Tuesday. Speaking privately, lawmakers close to the negotiations said that Senate and House leaders have tentatively agreed to changes in Senate Bill 2, the controversial property-tax reform measure. The modifications would retain new transparency provisions in the appraisals system supported by both chambers, while "restructuring" a rollback election provision supported more widely in the Senate than the House. "At this point, I think we can get there," said a Senate negotiator, reflecting sentiments from the House. Legislators and officials asked not to be quoted by name because of the current sensitivity of negotiations.
Years of sustained activity and record pricing in metro Denver's real estate market resulted in huge valuation increases in the 2017 countywide reassessment. According to the Denver Business Journal, the median projected commercial property value increase in Denver is 20 percent, with apartment buildings posting a record-setting projected median increase of 45 percent. Boulder County saw even larger increases, where commercial property valuations jumped 23 percent. “Limited inventory, reduced numbers of entry level properties, increased job opportunities and being a sought-after place to live has sustained the increase in values of all property types in Boulder County,” said Boulder County Assessor Cynthia Braddock.