Tax Issues | Inside Self-Storage

Self-Storage REIT Life Storage Reduces Job Commitment But Keeps Tax Breaks in Hicksville, NY

Jan 23, 2020

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...

California Property-Tax Measure Could Burden Owners of Self-Storage, Other Commercial Real Estate

Dec 05, 2019

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...

Tax Reform and Self-Storage: Strategies to Improve Facility Cash Flow

Nov 18, 2019

Confusion over the new tax code can cause self-storage owners to leave money on the table. Learn strategies designed to take full advantage of recent tax reform.

Evanston, IL, Plans 5% Self-Storage Tax as Part of 2020-21 Budget

Oct 21, 2019

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...

Why You Should Challenge Your Self-Storage Property-Tax Assessment

Oct 05, 2019

Self-storage property-tax assessments are based on an opinion of value. Learn how intangible assets could be part of the appraisal and why you should contest your bill.

From the 2019 ISS World Expo: Warren Dazzio Discusses Tax-Reform Strategies for Self-Storage Operators

Jul 10, 2019

Business tax laws are a point of concern for many self-storage operators. In this video filmed at the 2019 Inside Self-Storage World Expo, Warren Dazzio discusses how the 2017 Tax Cuts and Jobs Act and changes to the Qualified Improvement Property...

ISS News Desk: Self-Storage Operators Face Tax Issues Throughout North America

Jun 19, 2019

Self-storage operators across North America are sometimes burdened with tax liabilities that create unexpected expense hikes. Those in California, Nebraska and Alberta, Canada, are learning this firsthand in 2019. This video discusses recent...

Los Angeles Self-Storage Operations Avoid Parcel Tax With Voter Rejection of School-District Referendum

Jun 07, 2019

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...

Calgary Self-Storage Owner Speaks Out Against Debilitating Tax Increase

Jun 03, 2019

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...

Nebraska Self-Storage Operators Encouraged to Fight Sales-Tax Bills

May 21, 2019

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...