Tax

States, cities, trade groups look toward uncertain future

Unless the state government makes changes to taxes or spending, there will be deficits of $587 million to more than $800 million starting in the next fiscal year.

It was still unclear early Wednesday whether Democrats would take control of the House.

Many states are capping or trying to eliminate property taxes that support bond issuance.

A rule change allowing non-profits to cash in green energy credits presents both opportunities and challenges.

Nearly six thousand seats are up for grabs in state tilts, along with 14 bond issues.

Chicago Mayor Brandon Johnson on Wednesday proposed a $17.3 billion fiscal year 2025 budget that calls for a $300 million property tax increase, but does not touch pension funding levels.

Tax experts are looking past the election for clues about the fate of the Tax Cuts and Jobs Act, which is approaching its sunset and includes the controversial SALT cap.

Tourism Development Tax, sales tax, and Professional Sports Facilities tax and revenue refunding bonds were upgraded, impacting $628 million of debt.

As federal funding dries up, cites are searching for new funding sources.

The Hampton County School District in Varnville, South Carolina has won its dispute over the tax-exempt status of Series 2010 general obligation bonds.

Houston and other Texas cities face financial pressure caused by weather disasters, public safety salaries and pensions, or capped property tax collections.

The Ways and Means Committee is signaling its opening post-election positions.

The higher-ed sector, already facing internal pressures, could face scrutiny over its tax-exempt status during tax reform next year.

Moody's also upgraded other Florida locality bonds recently as a result of a revised cities and counties rating methodology.

Research shows that financing sport facilities with public debt often doesn't pay off, the Tax Foundation says.

The city council unanimously passed a deal that could lead to the issuance of up to $900 million of bonds and a sales tax hike to pay off the debt.

States and tax experts are wrestling with post-SALT scenarios.

The commission also made changes to planned Louisiana State gas and fuel tax bonds of up to $1 billion

State income tax collections were off last year and some analysts are watching to see how planned tax cuts will affect the triple-A state's revenues.