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Of home-sale transactions that closed in March 2014, the median home in Connecticut sold for $225,000, up 3.2% from March 2013. [24] Connecticut ranked ninth nationally in foreclosure activity as of April 2014, with one of every 887 residential units involved in a foreclosure proceeding, or 0.11% of the total housing stock., [25] including City Place I and the Traveler's Tower, both housing ...
As a corollary to this exception, a landowner has superior claim over a find made within the non-public areas of his property, so if a customer finds lost property in the public area of a store, the customer has superior claim to the lost property over that of the store-owner, but if the customer finds the lost property in the non-public area ...
Their services are instead paid for by taxing other property owners in the city's jurisdiction such as homeowners and for-profit businesses. For many municipalities in the United States, property taxes are the primary source of revenue. The amount of forgone tax revenue as a result of these tax-exempt land parcels is significant.
In most states, the half owned by the deceased spouse would get a new tax basis reflecting the home’s current market value. In community property states such as California, both halves of the ...
The property tax typically produces the required revenue for municipalities' tax levies. One disadvantage to the taxpayer is that the tax liability is fixed, while the taxpayer's income is not. The tax is administered at the local government level. Many states impose limits on how local jurisdictions may tax property.
Under Connecticut Public Act 490, for the purposes of local property taxation farmland is assessed at use value rather than fair market value, with the law intended to protect farmers from higher taxes caused by escalating land values in Connecticut. Despite the law, farm property taxes across Connecticut rose 44% between 1997 and 2002, the ...
A Nebraska man whose house title was seized over a modest property tax debt has finally gotten it back, ending a yearslong legal battle that almost saw him lose his home and all of its value in ...
Nonexistence or lack of identity of property. Something that was not in existence at the time of the alleged conversion cannot be converted. [167] Privilege. Finders of lost property may be entitled to use or ownership if the real owner cannot be identified. This is an overlap into the rules of trover. [168] [169] Unlawful and illegal acts ...