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|Pay your Taxes before your Lender Redeems your Property|
Stephen D. Richman; Kohrman Jackson & Krantz PLL;
September 10, 2014, previously published on September 8, 2014A mortgage holder has the right to redeem (take back) real property that is the subject of a real estate tax foreclosure when the owner does not pay taxes on the land, according to the recent decision of the Ohio Supreme Court in In re Foreclosure of Liens for Delinquent Land Taxes v. Parcels of...
|Should You Rely On The IRS’ Thoughts Today When Planning For Your Spouse’s Future?|
Michael D. Shelton; Smith Haughey Rice & Roegge, P.C.;
August 29, 2014, previously published on August 18, 2014For many people retirement assets such as Individual Retirement Accounts (IRA) make up the largest portion of their wealth. IRAs are the assets that you hope to consume during your retirement years. You and your spouse worked hard to save these assets and, in many cases, you probably consider them...
|VAT Costs for ‘Storage’ Providers|
Withers Bergman LLP/Withers LLP;
August 6, 2014, previously published on August 4, 2014A recent VAT court decision, in the case of Lok’nStore provides an opportunity to remind people about the relatively recent change in VAT rules concerning leasing land and buildings which the tenant uses for storage, as well as updating you on an interesting point relating to the treatment of...
|Baltimore County Real Property Owners - Now Is the Time to Assess Your Appeal Options For The “Rain Tax”|
Pessin Katz Law P.A.;
August 1, 2014, previously published on July 29, 2014In March of this year, the Baltimore County Council, as mandated by state law, enacted a bill allowing the County to collect a Stormwater Remediation Fee from all real property owners in Baltimore County. The fee, known as the “rain tax”, will be deposited in a Stormwater Management...
|VAT on Listed Buildings|
Withers Bergman LLP/Withers LLP;
July 14, 2014, previously published on June 30, 2014Listed building VAT relief for residential property was abolished in 2012. At Withers we have taken some soundings concerning any changes in the behaviour of residential property owners arising from the removal of VAT relief on approved alterations. We have asked whether this has caused more or...
|New Jersey Tax Sale Law Gives Purchaser of a Tax Sale Certificate a Tax Lien on the Underlying Property|
Duane Morris LLP;
July 9, 2014, previously published on June 30, 2014The New Jersey Supreme Court, in In re: Princeton Office Park, L.P. v. Plymouth Park Tax Services, LLC, determined that under the Tax Sale Law, N.J.S.A. §§ 54:5-1 to -137, a purchaser of a tax sale certificate acquires a tax lien, not a lien securing the property owner's obligation to pay...
|Potential Structures for Canadians Acquiring U.S. Real Estate Property|
Jonathan M. Charron; Perley-Robertson, Hill & McDougall LLP/s.r.l.;
June 17, 2014, previously published on May 28, 2014This article summarizes potential ways to structure or restructure the ownership of personal - use real property situated in the U.S. for Canadians, the purpose of which is to reduce or eliminate potential exposure to U.S. taxation.
|Impact of FATCA on ORSO Schemes in Hong Kong|
Duncan A. W. Abate; Mayer Brown JSM;
May 29, 2014, previously published on May 27, 2014The Foreign Account Tax Compliance Act (FATCA) is an invasive piece of US legislation. It is designed to identify tax avoidance being undertaken by US entities. It does this by imposing a 30 percent withholding tax on any US investments unless certain information is disclosed to the US tax...
|Recent Court Decisions Affecting Ohio Real Property Tax Appraisals|
Kohrman Jackson Krantz PLL;
May 21, 2014, previously published on May 19, 2014The Ohio Supreme Court has issued a couple of decisions in recent weeks that affect how reappraisals of property are handled.
|Nebraska’s New Property Valuation Protest Process|
Matthew R. Ottemann; McGrath North Mullin & Kratz, PC LLO;
May 16, 2014, previously published on Second Quarter 2014Effective for the 2014 property tax year, property owners in larger counties (over 150,000 people) who wish to protest their property value can request a hearing in person before a referee appointed by the County Board of Equalization. Referees will generally be independent appraisers who will...