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Laws & Taxes

Statement by Senate Majority Leader Dean Skelos on Governor’s Budget Proposal

New York, NY – January 24, 2012 – (RealEstateRama) — I am very encouraged that the Governor has again proposed a budget that closes the deficit by reducing spending and without increasing taxes or fees, and includes plans for job creation, property ta…

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Governor Cuomo Announces Mandate Relief Council to Meet on Wednesday

Albany, NY – January 24, 2012 – (RealEstateRama) — Governor Andrew M. Cuomo today announced that the Mandate Relief Council will meet on Wednesday, January 25 in the State Capitol in Albany. The Council was created by the Governor and Legislature to a…

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December & 2011 Year-End Market Report

MEMPHIS, TN – January 24, 2012 – (RealEstateRama) — Memphis-area home sales for December fell 10 percent from a year ago, with 898 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales for a…

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ABA Lawyers to Help New Yorkers Facing Bankruptcy, Foreclosure and Issues Related to Distressed Properties

WASHINGTON, DC – January 4, 2012 – (RealEstateRama) — The growing rate of foreclosures and bankruptcies hits particularly hard in minority communities, where individuals who need help often have limited access to resources.

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New Law to Help Renters Learn More About Radon Levels in Their Homes

PRINGFIELD, IL – December 30, 2011 – (RealEstateRama) — A new law set to go into effect on Jan. 1, 2012, will help people who rent apartments, condominiums or houses access information about radon levels in their homes. The Illinois Emergency Managem…

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More tax relief for eligible homeowners

L?HU‘E, HI – December 23, 2011 – (RealEstateRama) — County officials announced that more tax relief is now available for eligible homeowners. Prior changes in the Circuit Breaker and Home Exemption programs also resulted in savings to eligible prop…

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Statement from NAHB Chairman Bob Nielsen on Debate to Extend and Pay for Payroll Tax Deduction

WASHINGTON, D.C. – December 22, 2011 – (RealEstateRama) — Bob Nielsen, chairman of the National Association of Home Builders (NAHB) and a home builder from Reno, Nev., today issued the following statement on a congressional plan to pay for extending a…

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Governor Chris Christie’s Sick Pay Reforms Needed to Deliver Real, Long-Term Property Tax Relief to New Jersey Families

Trenton, NJ – December 20, 2011 – (RealEstateRama) — Governor Chris Christie has put forward a common sense policy to finally end the wasteful practice of paying out taxpayer dollars to public workers for unused sick days. These local government oblig…

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HUD sets 2012 Rent & Income Limits for Section 8 and Low-Income Housing Tax Credit (LIHTC) programs

WASHINGTON, D.C. – December 20, 2011 – (RealEstateRama) — The Housing and Economic Recovery Act (HERA) of 2008 made statutory changes to how income limits are calculated for LIHTC and bond-financed properties. HERA protected owners from rent decrease…

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Tax Cuts and Property Tax Cap Highlight New Laws That Take Effect January 1, 2012

New York, NY – December 19, 2011 – (RealEstateRama) — Middle class tax cuts that will reduce tax rates for millions of hardworking taxpayers and the two-percent property tax cap highlight new state laws that will go into effect on January 1, 2012.

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