search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aMarty Burger’s new venture sputters on takeoffMarty Burger’s new venture sputters on takeoffRent board’s 4% hike will “plunge” buildings into distress: landlordsRent board’s 4% hike will “plunge” buildings into distress: landlordsMacerich faces “imminent” default on $300M Santa Monica Place loanMacerich faces “imminent” default on $300M Santa Monica Place loan
South Florida

Milan Investment Group sues Miami over new real estate tax

In a putative class action suit filed against Miami earlier this week, Milan Investment Group claims a new real estate tax on Downtown properties violates the Florida constitution.

The property owner, located at 2501 South Douglas Road, said neither the city nor the Miami Downtown Development Authority has the authority to levy the extra tax on top of citywide property taxes. The tax goes to fund the DDA, an independent public agency that recruits businesses to the area, the lawsuit said.

Sign Up for the undefined Newsletter

Milan Investment Group, which hopes to represent a class of property owners, is requesting that the court declare the measure unconstitutional. The city commission approved the measure last week, as part of the budget.

The Downtown properties owned by the landlord are unknown. Law360 could not reach a DDA representative for comment. [Law360] — Mark Maurer

Tags
Downtown Miami