Taxation in California

Persinger Architects Helps Procure $8 Million in California State Grants for Regional School Districts

Retrieved on: 
Monday, June 7, 2021

SEBASTOPOL, Calif., June 7, 2021 /PRNewswire-PRWeb/ --Sonoma County-based Persinger Architects has recently aided three North Bay school districts in securing over $8 million in Proposition 51 grant funding.

Key Points: 
  • SEBASTOPOL, Calif., June 7, 2021 /PRNewswire-PRWeb/ --Sonoma County-based Persinger Architects has recently aided three North Bay school districts in securing over $8 million in Proposition 51 grant funding.
  • The three school districts assisted by Persinger Architects to be awarded the Proposition 51 state funding on April 28, 2021 by the State Allocation Board , are:
    CTEFP Grant approval was provided by the California Office of Public School Construction (OPSC) which operates under the authority of the state of California's Department of General Services.
  • The OPSC staffs the State Allocation Board (SAB) that administers a $42 billion voter-approved school facilities construction program which Proposition 51 funds fall under.
  • Alexis Persinger of Persinger Architects, says, "Most schools, public and private, have very limited financial resources.

Pappas: 203,472 people must pay Cook County property taxes by May 3

Retrieved on: 
Saturday, May 1, 2021

b'CHICAGO, April 30, 2021 /PRNewswire/ -- About 203,472 property owners must pay the First Installment of their Cook County property taxes by May 3, 2021, to avoid late fees charges imposed by state law, Treasurer Maria Pappas said today.\n"Taxpayers like my website because they can pay their taxes online after the office is closed," Pappas said.\nPayments made at cookcountytreasurer.com before 11:59 p.m. by May 3 will be recorded as on time.\n"You may also use the website to search $76 million in available refunds going back 20 years," she said.

Key Points: 
  • b'CHICAGO, April 30, 2021 /PRNewswire/ -- About 203,472 property owners must pay the First Installment of their Cook County property taxes by May 3, 2021, to avoid late fees charges imposed by state law, Treasurer Maria Pappas said today.\n"Taxpayers like my website because they can pay their taxes online after the office is closed," Pappas said.\nPayments made at cookcountytreasurer.com before 11:59 p.m. by May 3 will be recorded as on time.\n"You may also use the website to search $76 million in available refunds going back 20 years," she said.
  • "You may also verify your property tax exemptions, which lower the tax bill.
  • Homeowners may be missing out on $46 million in exemptions.
  • "\nTo search for refunds or missing exemptions, visit cookcountytreasurer.com:\nLate payments are charged 1.5 percent per month, as required by Illinois law.\n'

Keller Williams Heritage and Home Tax Shield Team Up to Provide Property Tax Relief to Homeowners

Retrieved on: 
Tuesday, April 6, 2021

SAN ANTONIO, April 6, 2021 /PRNewswire/ --Home Tax Shield (HTS), a San Antonio-based property tax tech company, and Keller Williams Heritage, a San Antonio-based real estate brokerage, are partnering to bring professional property tax services to San Antonio homeowners.

Key Points: 
  • SAN ANTONIO, April 6, 2021 /PRNewswire/ --Home Tax Shield (HTS), a San Antonio-based property tax tech company, and Keller Williams Heritage, a San Antonio-based real estate brokerage, are partnering to bring professional property tax services to San Antonio homeowners.
  • San Antonio homeowners can contact their Keller Williams Heritage agent for an exclusive sign-up link.
  • "We're thrilled to partner with Keller Williams Heritage to deliver professional property tax services to their clients in the San Antonio area.
  • Home Tax Shield's platform simplifies the annual property tax appeal process for homeowners, ensuring they pay a fair property tax and often helping reduce their property tax bill.

Black Homeowners Earned $59,000 in Home Equity in 2020, Compared With $50,000 for White Homeowners

Retrieved on: 
Tuesday, March 9, 2021

That's compared with $257,000 for Asian homeowners, $113,000 for white homeowners and $102,000 for Hispanic homeowners.

Key Points: 
  • That's compared with $257,000 for Asian homeowners, $113,000 for white homeowners and $102,000 for Hispanic homeowners.
  • Even though Black homeowners still have less equity than white homeowners, the home-equity gap between Black and white Americans is narrowing.
  • Home equity increased 191% for Hispanic homeowners, 79% for white homeowners and 44% for Asian homeowners.
  • Black homeowners starting out with lower equity than the other races is a key reason for the larger percentage jump.

New Study Highlights Economic Fallout from California's 2012 Tax Hike

Retrieved on: 
Monday, February 22, 2021

"The academic literature on Proposition 30 is among the strongest evidence we have that behavioral responses to tax hikes occur disproportionately among the wealthy," said Andrew Mikula, author of " How a 2012 income tax hike cost California billions of dollars in economic activity ."

Key Points: 
  • "The academic literature on Proposition 30 is among the strongest evidence we have that behavioral responses to tax hikes occur disproportionately among the wealthy," said Andrew Mikula, author of " How a 2012 income tax hike cost California billions of dollars in economic activity ."
  • The new paper draws on a 2019 study from the National Bureau of Economic Research that examined behavior responses to Proposition 30, finding that such responses "eroded 60.9% of [new] tax revenues by [the law's] second year."
  • If we pass the graduated income tax, every other New England state will boast lower top income tax rates than Massachusetts.
  • Mr. Mikula was previously a Lovett & Ruth Peters Economic Opportunity Fellow at Pioneer Institute and studied economics at Bates College.

BM Associates and HHS Technology Group Partner to Modernize State of California's Franchise Tax Board Delinquent Vehicle System

Retrieved on: 
Thursday, February 4, 2021

FORT LAUDERDALE, Fla., Feb. 4, 2021 /PRNewswire/ --BM Associates and HHS Technology Group LLC (HTG), announced today that the State of California Franchise Tax Board (FTB) has awarded a contract to modernize the state's Delinquent Vehicle Registration (DVR) system and related applications.

Key Points: 
  • FORT LAUDERDALE, Fla., Feb. 4, 2021 /PRNewswire/ --BM Associates and HHS Technology Group LLC (HTG), announced today that the State of California Franchise Tax Board (FTB) has awarded a contract to modernize the state's Delinquent Vehicle Registration (DVR) system and related applications.
  • Once implemented, the enhanced system will encompass all necessary functionality for effective collections, creating the new "DVR2" system.
  • Both BM Associates and HTG have accrued significant experience partnering with the State of California to deliver purpose-built technologies and solutions to optimize operations and reduce costs.
  • As a Red Hat Alliance Partner, HHS Technology Group leverages its industry leading technologies to deliver state-of-the-art, cloud-based solutions and services.

Pappas: Which properties have the biggest property tax increases since 2000? If you didn't vote … Don't complain.

Retrieved on: 
Tuesday, January 5, 2021

Called "The Top 50," the report lists the 50 Property Index Numbers (PINs) with the largest tax increases from 2000 to 2019 in Chicago and the suburbs, both residential and commercial.

Key Points: 
  • Called "The Top 50," the report lists the 50 Property Index Numbers (PINs) with the largest tax increases from 2000 to 2019 in Chicago and the suburbs, both residential and commercial.
  • Just follow these steps:
    The Top 50 report also breaks down the 50 largest residential and commercial property tax increases in each of Chicago's wards.
  • The report analyzed the property tax bills for PINs which did not change property tax classifications from 2000 to 2019.
  • For residential properties, the report analyzed properties with only a Homeowner's Exemption and excluded properties with other property tax exemptions, such as the Senior Citizen Exemption, which affect the change in tax bills.

PG&E Pays Over $268 Million in Property Taxes to 50 California Counties

Retrieved on: 
Monday, December 14, 2020

For the second half of 2020, Pacific Gas and Electric Company (PG&E) paid property taxes of over $268 million to the 50 counties where it owns properties that support gas and electric service to 16 million Californians.

Key Points: 
  • For the second half of 2020, Pacific Gas and Electric Company (PG&E) paid property taxes of over $268 million to the 50 counties where it owns properties that support gas and electric service to 16 million Californians.
  • Property tax payments are one of the important ways PG&E helps drive local economies and supports essential public services like education and public safety.
  • PG&Es payments of more than $268 million covers the period from July 1 to December 31, 2020.
  • PG&Es First Installment of Property Taxes Paid on December 10, 2020

MEDIA ALERT — State tax increases to cover revenue shortfalls caused by COVID-19

Retrieved on: 
Monday, December 7, 2020

While the federal government can operate at a deficit, states are required to come up with balanced budgets each year.

Key Points: 
  • While the federal government can operate at a deficit, states are required to come up with balanced budgets each year.
  • That means states must identify cost reductions or additional revenue sources to cover COVID-19-related shortfalls.
  • Tax increases can be obtained indirectly by approval of additional revenue sources such as those included on ballot initiatives in the November 2020 election.
  • PLEASE NOTE: The content of this alert has been prepared by Wolters Kluwer Tax & Accounting for general informational purposes only.

Pappas thanks Cook County Board for approving two-month waiver of late fees on property taxes in 2021

Retrieved on: 
Tuesday, November 24, 2020

The Cook County Board voted to waive late fees for two months on both property tax installments due in 2021.

Key Points: 
  • The Cook County Board voted to waive late fees for two months on both property tax installments due in 2021.
  • The Board unanimously passed 20-5643 , which waives for two months the 1.5 percent per month late fee on all Tax Year 2020 property taxes.
  • Specifically:
    The First Installment of 2020 taxes is due March 2, 2021, with application of late charges moved back to May 3, 2021.
  • In May, the board gave Cook County property owners a two-month waiver of late fees on taxes due Aug 3, 2020.