Tax Issues

Life Storage Inc., a self-storage real estate investment trust (REIT) and management company, received permission to reduce the job commitment for its facility in Hicksville, N.Y., without suffering a decrease in its Nassau County tax breaks. The...

Update 12/5/19 – Nitzberg and Brian Caster, CEO of Caster Properties, which operates the A-1 Self Storage brand, will co-chair a national Self Storage Association (SSA) task force that will examine ways the industry can combat California...

Officials in Evanston, Ill, have included a 5 percent self-storage tax as part of the city’s proposed budget for the 2020-21 fiscal year. This “user fee” is included as one of several new revenue streams officials are considering within the $317...

Update 6/7/19 – Measure EE was rejected by voters on June 4, saving self-storage and other property owners within the LAUSD boundary from having to pay an additional parcel tax. Of the 277,144 votes cast in the special election, 53 percent were...

John Milino, owner of Alberta Storage Place Ltd. in Calgary, Alberta, Canada, recently received his monthly tax bill and was shocked to see an increase from $8,408 to $10,440 for the second half of the year. Since 2015, the annual tax bill for his...

Update 5/21/19 – With LB 289 stalled in the legislature, Nebraska lawmakers are pursuing an alternative approach by proposing a sales-tax amendment to LB 183, a bill that would make an adjustment in the valuation of agricultural land. The...