Austin, Atlanta Lead Race to Win Amazon's HQ2

Written on October 26, 2017 at 11:44 AM

After Amazon announced plans in September to build a second headquarters (HQ2) in an undetermined location, hundreds of local officials across North America have submitted proposals to try and win the $5 billion construction investment and 50,000 new jobs for their city. In an effort to lure Amazon, proposals boast potential tax breaks, local benefits and opportunities.

However, Moody’s Analytics metro area analysts ranked the largest metro areas using a data driven approach, and made the case for an individual city based on qualitative judgment. The analysts looked at five factors: business environment, human capital, cost, quality of life, and transportation. It then assigned a number to each city and a weight to each factor to come up with its list of 10 cities. An additional category, geography, was considered, but was not factored into the rankings. Moody's excluded Seattle, the site of Amazon's current headquarters, from consideration.

Below are Amazon's Top 10 Cities, according to Moody's Analytics:

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Categories: Pennsylvania, Georgia, Real Property, Massachusetts, Texas, New York, Florida, Oregon, Utah

Forbes: 5 U.S. Cities Poised To Become Tomorrow's Tech Meccas

Written on May 30, 2017 at 04:06 PM

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 metropolisesBelow are 2017s Top 5 tech meccas looking to overthrow Silicon Valley, according to Forbes. 

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Categories: Washington, Georgia, Hi-Tech, Colorado, California, Oregon, Utah

Utah State Tax Commission Rules Pipelines Should be Assessed as Real Property, Not Personal Property

Written on December 30, 2015 at 03:03 PM

A recent ruling by the Utah State Tax Commission concerning the assessment of pipelines could have major implications for pipeline companies statewide. In the case of Summit Water Distribution Company vs. the Summit County Board of Equalization, the Tax Commission ruled that pipelines are not personal property, and the company’s water pipeline should be assessed as real property. For property tax purposes, Utah pipelines have historically been assessed as personal property, which are depreciated over time. The ruling’s sweeping changes to the assessment of pipelines could open the door for Summit County, and other jurisdictions with pipelines, to recoup millions of dollars in uncollected property taxes due to personal property values being depreciated over the years.

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Categories: Personal Property, Real Property, Oil - Gas - Energy - Utilities, Utah

At Least 30 Utah Cities, School Districts Considering Property Tax Hikes

Written on August 03, 2015 at 11:31 AM

Despite the Utah Legislature passing SB97 during the 2015 session, which increased state revenue by $75 million by increasing Utah's basic property tax rate, at least 30 Utah cities and school districts — including eight in Salt Lake County — are proposing property tax increases. The Salt Lake County city and school district proposals alone would collect approximately $10 million more in taxes.

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Categories: Real Property, Utah

Utah Property Tax System Audit Reveals $100M Mistake

Written on July 16, 2014 at 10:55 AM

Utah property owners are facing higher tax rates in the coming years due to a recent audit of the state's property tax system. The audit revealed a miscalculation that caused property owners in Utah to be undertaxed by more than $100 million since 2006. In recent years, Salt Lake City officials have been questioning why there has been so much growth and new development in the city, yet tax revenue projections seemed to remain flat. Utah's property tax system policy, known as truth-in-taxation, determines that although property values may rise, local government entities receive that same revenue from existing property from year to year. Additional revenue comes from newly developed properties, known as new growth. Earlier this year, Mayor Ralph Becker requested that the state auditor examine new growth within the tax system.

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Categories: Personal Property, Real Property, Utah

Utah's Commercial Real Estate Market Hits Record Highs

Written on January 09, 2014 at 08:55 AM

For the first time since the economic downturn, Utah's commercial real estate market is hitting new highs. Investments in Utah's commercial real estate markets exceeded $1.3 billion in 2013, but industry leaders are still proceeding with caution due to the blow from the recession. However, the investment figures would have been even higher had more office, retail, industrial and rental properties been available for sale, part of a larger recovery for the industry across the state, according to The Salt Lake Tribune. Forecasters expect 2014 to be at least as healthy for all commercial sectors.

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Categories: Office, Industrial, Real Property, Retail, Multi Family, Economy, Utah

Utah Leads in Commercial Real Estate Construction

Written on May 07, 2012 at 11:35 AM

Keeping up with the national trend, Utah is seeing a rebound in the development and construction of commercial real estate across the state, jumping from 26th to 6th nationally in terms of spending across all categories of commercial real estate in 2011. According to the Standard Examiner, $3.6 billion was spent in Utah last year on the development and construction of office, industrial, and retail buildings, which supported 77,550 jobs.

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Categories: West Virginia, Arizona, Construction, Real Property, Texas, New York, California, Utah

Utah Value Notices Issued: Appeal Deadline is September 15th

Written on August 04, 2011 at 09:35 AM

By now, all Utah counties have issued their 2011 value notices. The deadline to appeal your property's assessed value is September 15th (the "Assessed Value" on the notice is the one that will be up for appeal, not the "Market Value").

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Categories: Real Property, Paradigm Info, Utah

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