Tax Issues

Developer Michael Kenney, principal of 453 Washington Avenue North Haven LLC, has applied for the building permit to convert a vacant structure in North Haven, Conn., to a CubeSmart self-storage facility. The building at 453 Washington Ave. is on...

Commercial real estate developer and investor James Street recently acquired Mr. Store It in Wilmington, N.C., for $8.5 million, but the North Carolina Department of Transportation (DOT) wants to remove a portion of the self-storage facility as...

A self-storage development project in Rochester, N.Y., has received mortgage- and sales-tax exemptions from the County of Monroe Industrial Development Agency (COMIDA). The $750,000 conversion is spearheaded by C&P Equities LLC, which will lease...

Southeast Ohio Holdings LLC, the owner of Athens Mini Storage in Athens, Ohio, was under fire last week when the Federal Hocking Local School District challenged the value set on the self-storage facility for tax purposes.

Update 7/3/15 – Prospect Heights aldermen recently approved a Cook County, Ill., Class 7C tax incentive for the vacant property on which developer Jonathan Lunn intends to build a self-storage facility. The tax request was submitted by Lunn’s...

Public Storage Inc., a publicly traded self-storage real estate investment trust (REIT), received tax breaks last week from the Nassau County Industrial Development Agency (IDA) in its quest to build a $10.4 million facility in Hicksville, N.Y...

Two self-storage businesses in Vineland, N.J., are in a position to receive property-tax abatements after the city council introduced an ordinance proposing payment-in-lieu-of-taxes agreements, also known as PILOTs. The council is expected to make...