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The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.
Gretna Public Schools has passed several bond issues to build new facilities. Gretna's school bonds have become the third-highest bond levy tax burden for property owners in the state. Gretna has a bond levy of 0.33456, with only Bennington and Elkhorn ranking higher, each with a bond levy of .34. [6]
U.S. Senators Jay Rockefeller (D-West Virginia) and Roy Blunt (R-Missouri) introduced S.B. 1133, "New Markets Tax Credit Extension Act of 2013" in June 2013 to permanently add New Market Tax Credits to the Internal Revenue Code, however the program expired in January 2014 without the bill passing.
Real estate taxes have skyrocketed across the country as U.S. home prices have jumped more than 50% in the past five years, leading a bevy of states to pass or propose measures to reign in ...
OMAHA, Neb. (AP) — Nebraska Gov. Jim Pillen threatened from the beginning of this year's legislative session that he would call lawmakers back for a special session if they failed to pass a bill ...
Real estate transfer taxes have become controversial in some U.S. jurisdictions seeking to increase transfer taxes on higher end property sales to help combat issues like homelessness. 2022's Chicago's Bring Chicago Home initiative, seeks to increase transfer taxes on $1 million transactions by 253% or t o 2.65% or $26,500 per million dollar of ...
The owner of the property on that date is liable for the tax. [8] The amount of tax is determined annually based on market value of each property on a particular date, [9] and most jurisdictions require redeterminations of value periodically. The tax is computed as the determined market value times an assessment ratio times the tax rate. [10]
The Nebraska Constitution prohibits use of a property tax, thus most revenue is collected from a state sales tax, use taxes, and a state income tax. [1] The department also oversees the Nebraska Lottery and "Charitable Gaming". [1] The department headquarters are located at the State Office Building in Lincoln, Nebraska.