Since the districts with the lowest tax rates were home to
properties six times more valuable than the districts with the highest tax rates, they generated more local revenue.
Of course, all the rules on qualified like-kind replacement
properties (including restrictions on the identification of multiple
properties in the case of deferred exchanges) must be observed.
According to information on MPAC's Web site, all
properties in Ontario were assessed as to their estimated value on June 30, 2001.
1031 delayed "forward" exchange, an exchanging taxpayer must scramble to identify a suitable replacement property in real estate markets that have too many qualified buyers and too few
properties for sale.
Palazzolo could be the latest in a long line of court refusals to protect property owners against regulatory burdens that fall short of taking the entire value of their
properties, when the cost of providing the general benefits those regulations intend should be generally borne.
Weakening the link between territorial claims and actual exploration could undermine the perceived legitimacy of the property rights system, and so could the implication that the
properties were "public" in their initial state.
This forces assessors to rely on unreliable estimation methods in the intervening years, such as setting the value of a property based on what neighboring real estate sold for that year, regardless of how the condition of those
properties compares with that of the building being assessed.
In addition to Federal Superfund issues, state law in recent years has addressed contaminated
properties in other, novel ways.
It is well known that rubber composites provide improved
properties which cannot be obtained by a single elastomer.
TSX:TZC) today announced that they have completed the acquisition of both companies by Brookfield
Properties Corporation in a transaction valued at approximately US $9 billion.
However, in applying the second prong, it rejected the taxpayer's use of the patent law classification system in grouping the exchanged patents into one of four broad groups (machine, process, manufacture and composition of matter) and instead applied the six-digit North American Industry Classification System (NAICS) product codes (applicable in determining like-class for depreciable tangible personal property) in determining whether the underlying
properties were like-kind.
The sales comparison approach estimates market value by analyzing sales of similar
properties and making logical adjustments for dissimilar characteristics.
