STR: U.S. hotel property tax expense exceeds a potential $8.1 billion

Written on February 23, 2018 at 12:45 PM

The total property tax expense for U.S. hotels exceeds a potential $8.1 billion, according to a new study by STR utilizing 2016 HOST (Hotel Operating Statistics) data. The study found that roughly 36% of all hotel property tax expense resides in 15 counties. While 611 counties comprised STR’s HOST data, the report studied only those with a sufficient reporting sample. Overall,  the median property tax expense for U.S. hotels was 3.7% of total revenue with a much higher expense percentage for limited-service properties (4.2%) than full-service hotels (3.3%).

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Categories: Personal Property, Real Property, Hospitality, Hotels

Stay Committed: How to get the most out of your Texas property tax appeal

Written on February 13, 2018 at 12:33 PM

By Carlos Villatoro, Senior Managing Consultant, Dallas

It is no secret that significant commercial real estate investments continue to pour into the great state of Texas. However, if an owner isn’t lucky enough to receive major tax breaks from local jurisdictions as an incentive to invest here, they will have to accept some of the highest effective property tax rates in the country. The tradeoff is that Texans enjoy a relatively low sales tax rate and zero state income tax rate. Fortunately, the Texas Property Tax Code offers multiple appeal recourse avenues, which allow owners and tenants alike to review the property tax liability from a fair and competitive standpoint.

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Categories: Personal Property, Office, Industrial, Real Property, Hospitality, Retail, Paradigm Info, Multi Family, Texas

Texas Property Tax Deadline Changes for 2018

Written on February 06, 2018 at 01:11 PM

In 2017, the Texas Legislature made changes to the Texas Property Tax Code, most of which became effective on January 1, 2018. Among the changes are new, earlier deadlines for filing Notices of Protest and Personal Property Renditions.

Three important property tax deadline changes are:

  • May 15: The new deadline for filing a Notice of Protest. The previous deadline was May 31. If a Notice of Appraised Value is sent under Code Section 25.19 the deadline is extended until the 30th day after the notice is delivered.

  • April 1: The new deadline for filing a personal property rendition "for property located in an appraisal district in which one or more taxing units exempt property under Section 11.251 (Freeport Exemption)." The previous deadline was April 15.

  • March 31: The new deadline for an application for Interstate Allocation for moveable personal property, including vehicles, vessels and watercraft, commercial aircraft and business aircraft. The previous deadline was April 30.

A summary of the remaining deadline changes are as follows:

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Categories: Personal Property, Real Property, Texas

4 Ways to Reduce Property Taxes For Your Facility

Written on October 16, 2017 at 12:43 PM

By Seth Krchmar, Managing Consultant | MFRTECH

Keeping costs at a minimum is often a top priority for owner/operators of manufacturing facilities; however, they often overlook one key area that can positively impact their bottom line. In fact, property taxes are often one of the biggest line item expenses manufacturing facilities face and can represent 30 to 50 percent of operating costs. The good news is that owners don’t have to take them at face value. 

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Categories: Heavy Industrial, Personal Property, Automobile Manufacturing, Real Property, Industrial & Manufacturing, Paradigm Info

Colorado Lawmakers Try to Cut the Business Personal Property Tax Once Again

Written on April 21, 2017 at 01:00 PM

For the past 25 years, Republican lawmakers have tried over and over again to cut the much-maligned business personal property tax in Colorado. State Senate members passed a bill Monday to increase the exemption for the business personal property tax by a hefty 27-6 margin — the kind of bipartisan agreement that one might think would lead to success for the bill in the House of Representatives. But when asked just hours before the vote about the chances for the long-sought GOP goal of making substantial cuts to  business equipment tax, Senate President Kevin Grantham jokingly deflected the question by asking, “Hey, how about that nice weather we’ve been having?”

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Categories: Personal Property, Colorado

Florida Lawmakers Advance Bill to Extend Solar Energy Property Tax Break to Businesses

Written on February 13, 2017 at 01:54 PM

A Florida Senate committee has unanimously approved Senate Bill 90, which would implement Amendment 4 and eliminate property taxes on solar and other renewable energy devices installed at commercial and industrial facilities for 20 years. The same tax break already exists for residential property owners. Florida voters passed the Amendment 4 ballot initiative last summer with almost 75% of the vote. The legislation would go into effect in 2018, and would also exempt renewable energy devices from Florida’s tangible personal property tax, including storage tanks, rock beds, thermostats and control devices, and heat exchangers.

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Categories: Personal Property, Real Property, Green Initiatives, Florida, Oil - Gas - Energy - Utilities

Ohio Bill Would Give $264M Retroactive Tax Break to Oil and Gas Industry

Written on December 21, 2016 at 11:05 AM

Ohio’s oil and gas industry may get a retroactive windfall tax break estimated at $264 million under a bill passed by the legislature during the lame-duck session The heavily amended Senate Bill 235 would expand the sales-tax exemption for tangible personal property for the oil and gas industry. And in an unusual move, the General Assembly made the tax breaks retroactive to June 30, 2010, requiring refunds from the state totaling $215 million and local governments totaling $49 million. 

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Categories: Personal Property, Ohio, Oil - Gas - Energy - Utilities

Florida Proposal Would Extend Solar Energy Tax Break to Businesses

Written on August 02, 2016 at 12:34 PM

Florida voters will be asked on the primary-election ballot on Aug. 30 to extend the residential solar energy tax break to commercial and industrial property owners, and thus significantly expand renewable-energy production in the state. Crafted by the Legislature, the broadly supported Amendment 4 proposal would exempt for 20 years the assessed value of solar and renewable-energy devices installed on businesses and industrial properties.

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Categories: Personal Property, Green Initiatives, Florida

Businesses Form Coalition to End Wisconsin’s Personal Property Tax

Written on June 29, 2016 at 04:54 PM

More than 30 trade associations and businesses are banding together in an effort to increase their push to get Wisconsin's personal property tax law repealed. The Coalition to Repeal Wisconsin's Personal Property Tax, which includes major business interests in the state like AT&T, American Family Insurance, Wisconsin Manufacturers and Commerce, and the Wisconsin Restaurant Association, says the lack of structure in determining what property is and is not exempt from the tax is unfair and disproportionately affects small businesses.

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Categories: Personal Property, Wisconsin

Urgent Filing Window: Michigan Eligible Manufacturing Personal Property Exemption

Written on May 12, 2016 at 02:51 PM

Major changes in Michigan Business Personal Property law provide an opportunity for manufacturers to significantly reduce their property taxes. The Michigan Department of Treasury indicates that many manufacturers failed to qualify for the new Eligible Manufacturing Personal Property (EMPP) Exemption due to the complexity of filing.

If you have Industrial Facility Exemption (IFT) returns that have been rejected, the IFT will be revoked if not corrected by the May 31, 2016 deadline. There is still time to file the required forms, but you must act quickly.  If you are a manufacturer and are unsure of your exemption status, please contact us today to see how we can assist.

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Categories: Michigan, Personal Property, Industrial & Manufacturing, Paradigm Info




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