Property taxes

Many local governments face budget issues, including two of the largest cities by population, New York City and Chicago, both of which saw negative rating action during the first half of the year, per Breckinridge strategists.

Increased use and size of the economic development tool led to the exemption of about $1.1 billion in property taxes between 2010 and 2024.

Gov. Ron DeSantis signed a measure into law that restrict local governments increases in property tax yields.

Democrats have, at least temporarily, blocked measures that would have led to local sales tax increase referendums.

Kansas City, Missouri, is weighing $235 million in special obligation bonds to help fund the $1.4 billion expansion of the KC Current's two-year-old stadium.

Local governments will face "greater credit pressure" if voters largely eliminate property taxes on more than half of homes in the state, S&P analysts said.

A proposed $3 billion sports and entertainment district would involve bond issuance for a Dallas Stars hockey arena and public infrastructure.

A county tax collector said the ballot measure, if passed, would endanger outstanding local bonds throughout the state.

West Sacramento's baseball expansion plan would provide funding to two Yolo County school districts, backers say.

Mayor Andre Dickens wants to extend tax allocation districts, which could generate $5 billion to $7 billion that could back bonds.

S&P put some Iowa school district issues' priority-lien ratings on CreditWatch with negative implications after the General Assembly passed property tax reform.

Texas Attorney General Ken Paxton's ongoing audit compliance probe led to more than 130 cities being prohibited from raising their property tax rates.

A federal judge ruled Cook County, Illinois, is liable for contitutional violations of homeowners' rights by stripping them of equity in delinquent tax sales.

The Illinois House advanced a megaprojects bill that could enable the National Football League's Chicago Bears to stay in Illinois.

Nebraska Gov. Jim Pillen vowed to pass sweeping property tax reform in 2027 after Nebraska legislators failed to deliver relief this year.

The legislature passed bills to cut personal income tax rates over time and limit increases on homestead property tax payments to the rate of inflation.

Iowa lawmakers have to merge competing visions for property tax reform after multiple bills passed out of committee in the state House and Senate this month.

The deal includes a current refunding of general obligation bonds issued in 2016 and a tender offer for bonds that have not yet reached their call date.

At least two local agencies missed debt service payments after the Cook County, Illinois, treasurer's office was unable to issue property tax bills on time.

Rapidly rising property values have led many Republican legislators to back measures that would substantially reduce local government property taxes.