Laws & Taxes

November 1, 2010 - (RealEstateRama) -- Nassau County Executive Edward P. Mangano today announced that with the passage of his 2011 No Property Tax Increase Budget, Nassau County’s finances have begun to be repaired after years of mismanagement, a poor economy and overspending. Mangano praised Presiding Officer Peter Schmitt and the Republican Legislative Majority for joining him in holding the line on property taxes while adopting reforms to close a $343 million deficit – the largest in our County’s history

November 1, 2010 - (RealEstateRama) -- If New Jersey expects towns to hold the line on property taxes, it should end an outdated salary-arbitration process for police and firefighters. Gov. Christie has offered a reasonable plan to do that and help municipalities live with an austere 2 percent annual property-tax hike cap. It would set the same 2 percent limit for all public-employee economic compensation packages, including benefits such as health insurance.

Trenton, NJ - November 1, 2010 - (RealEstateRama) -- The Christie Administration today announced it is moving forward with a comprehensive plan to enact fiscal discipline and promote the prudent use of scarce property tax dollars by capping salaries for superintendents. The regulations, announced in July, will result in a salary reduction for more than 360 school superintendents who serve school districts with low numbers of students.

November 1, 2010 - (RealEstateRama) -- With Assemblyman Paul Moriarty saying that legislation to prevent lobbyists from benefiting from taxpayer-paid pensions and health benefits “is a no brainer,” Assemblyman Domenick DiCicco today said the Assembly Democrat should explain why it’s taken Moriarty, who has served in the Assembly for four years, to finally introduce the bill.

STATEHOUSE, IN - November 1, 2010 - (RealEstateRama) -- Senior citizens and young homeowners are likely among the growing number of Hoosier voters who support adding Indiana's property tax caps to the state constitution, say the ballot measure's co-authors

GRISWOLD, CT - November 1, 2010 - (RealEstateRama) -- State Sen. Andrew M. Maynard (D-Stonington), who is Senate Chairman of the legislature’s Veteran’s Committee, today welcomed news that Connecticut Light & Power has purchased $500,000 worth of state housing tax credits in order to help create 18 units of affordable housing for veterans on the site of the American Legion Hall in the borough of Jewett City.

October 29, 2010 - (RealEstateRama) -- The deadline for homeowners to file 2009 Homestead Benefit applications has been extended to Jan. 3, 2011, to allow more people to file, Treasurer Andrew Sidamon-Eristoff announced. The old deadline was Nov. 1

HARRISBURG, PA - October 28, 2010 - (RealEstateRama) -- Pennsylvania homeowners considering geothermal heat pump systems can now take advantage of a new and innovative financing package through the Commonwealth’s energy efficiency loan program, the Keystone Home Energy Loan Program (HELP), which combines a low-interest HELP loan with a companion loan given in anticipation of federal tax credits available for the installation of these fuel-conserving systems.

WILLISTON, ND - October 28, 2010 - (RealEstateRama) -- G.A. Haan Development, LLC is constructing a two-story, 40-unit apartment building in Williston, ND. The complex is partially funded by the federal Low Income Housing Tax Credit (LIHTC) program, administered by the North Dakota Housing Finance Agency (NDHFA)

WASHINGTON, D.C. - October 27, 2010 - (RealEstateRama) -- Home owners have two more months to take advantage of tax credits that can help them save energy and reduce their utility bills with more energy-efficient windows and doors, insulation, and heating and cooling equipment, according to the National Association of Home Builders (NAHB)."Our members are ready to help consumers make the best choices for their homes, but home owners should act soon if they want to qualify for up to $1,500 in tax credits when they complete their 2010 income tax returns," said NAHB Remodelers Chair Donna Shirey, a remodeler and builder in Issaquah, Wash.

MEDFORD TWP., N.J. - October 26, 2010 - (RealEstateRama) -- Representatives from the New Jersey Housing and Mortgage Finance Agency (HMFA) today joined local officials to celebrate the completion of 36-unit affordable senior apartments. Medford Senior Housing is a housing development located at 8 Jones Road in Medford Township. The HMFA, an affiliate of the Department of Community Affairs, provided the mortgage and tax credit funding for the project.

BOISE, ID - October 26, 2010 - (RealEstateRama) -- Idaho Housing and Finance Association today announced a 30-year fixed interest rate of 3.75%, the lowest rate in IHFA’s history. This low rate provides opportunity for qualified homebuyers who can choose from FHA, VA, and RD loan products that best meet their needs. Potential homeowners can visit www.IdaMortgage.com, our homeownership resource center, to check their eligibility for a loan.

October 19, 2010 - (RealEstateRama) -- Doug Lasher, Clark County Treasurer, stated that second-half 2010 property taxes are due on Monday, November 1, because October 31 falls on a Sunday this year. “If you have not received your 2010 second-half tax statement or have lost it, you can visit our web site at www.clark.wa.gov/treasurer or call 397-2252 for a duplicate statement.”

Las Vegas, NV - October 19, 2010 - (RealEstateRama) -- The Division of Mortgage Lending continues to diligently enforce mortgage lending laws by disciplining 7 entities for various violations of those laws.

Denver, CO - October 18, 2010 - (RealEstateRama) -- The summer season of home buying was a difficult one because many buyers purchased earlier in the spring in an attempt to qualify for the government’s Tax Credit. The market is still attempting to return to traditional seasonal trends. A monthly survey of 54 metropolitan areas indicates that sales were 6.4% below those in August and 20.6% below sales in September 2009. The inventory of homes for sale is dropping slightly, which has resulted in a stabilization of prices.

October 13, 2010 - (RealEstateRama) -- Assemblywoman Mary Pat Angelini, R-Monmouth, issued the following statement regarding the October 14, 2010 Assembly Committee schedule which again does not include any property tax reform Tool Kit legislation

Washington, D.C. - October 6, 2010 - (RealEstateRama) -- Concerned that federal bank regulators are making the challenges confronting America's commercial real estate sector worse, U.S. Congressman Kevin Brady (R-Texas) has introduced legislation to stabilize commercial mortgage lending and strengthen private investment in the commercial real estate market.

Denver, CO - October 5, 2010 - (RealEstateRama) -- While the housing market is experiencing a post tax credit correction, RE/MAX reports that at the end of the 3rd quarter, 2010 franchise sales are 36% higher than this time last year. After nine months, the global real estate franchisor sold 510 franchises worldwide. In the U.S., 147 sales represent a 28.9% increase over 2009, and in Canada, 28 sales mark a 16.6% increase. An even more impressive success story is taking place in the emerging markets of Brazil and India, where RE/MAX has sold 71 and 64 franchises respectively in 2010

Troy, MI - October 5, 2010 - (RealEstateRama) -- In the interest of encouraging law students and MBA students, the Board of the United Condominium Owners of Michigan (UCOM) has set aside four registrations for students of law and management schools in the Detroit area.

Harrisburg, PA - September 30, 2010 - (RealEstateRama) -- The House Finance Committee approved legislation authored by Rep. Stephen E. Barrar (R-Chester/Delaware) that would freeze property taxes for senior citizens.

Mineola, NY - September 29, 2010 - (RealEstateRama) -- As Nassau County once again achieves the dubious status of having the second highest property taxes in the United States, Nassau County Executive Ed Mangano again vowed not to implement a hefty property tax increase to close a massive deficit facing the County in 2011.

Washington, DC - October 1, 2010 - (RealEstateRama) -- The National Association of Realtors® said today it was pleased that Congress passed and the president signed into law a one-year extension of the National Flood Insurance Program for before it expires tomorrow, but still believes a longer extension and program reforms are needed to provide fairness and continuity to the NFIP

Raleigh, NC - September 30, 2010 - (RealEstateRama) -- North Carolina homeowners, especially those struggling with financial problems, will have more protection from schemes that can lead to problems like foreclosure starting Friday, Attorney General Roy Cooper said today.

Los Angeles, CA - September 30, 2010 - (RealEstateRama) -- J. Michelle Hickey has joined the national real estate law firm Pircher, Nichols & Meeks in its Los Angeles office. Hickey is an Of Counsel in the real estate department with an emphasis on land use and environmental matters. Prior to joining Pircher, Hickey was a Partner and Of Counsel with Holland & Knight LLP

PHILADELPHIA, PA - September 28, 2010 - (RealEstateRama) -- An indictment was filed today against Bernadette Nicholas, Kevin D. McAllister, and Wayne Rosen for engaging in schemes to defraud Wilmington Trust Federal Savings Bank and Malvern Federal Savings Bank involving properties valued at more than $35.5 million,

September 28, 2010 - (RealEstateRama) -- The federal homebuyer tax credit made homeownership more affordable for families across the country, but an important local partnership benefited Idaho homebuyers even further. IdaMortgage and the Home Partnership Foundation, brought to you by Idaho Housing and Finance Association (IHFA), partnered with the Ada County Association of REALTORS® (ACAR) to make homeownership even more attainable to Idaho homebuyers through a program called Welcome Home Idaho. More than 1,300 homebuyers utilized IdaMortgage’s Tax Credit 2nd Loan, which helped borrowers monetize up to $7,000 of the federal homebuyer tax credit up front for use on down payment or closing costs.

WASHINGTON, D.C. - September 28, 2010 - (RealEstateRama) -- New research from the National Association of Home Builders (NAHB) reveals that the benefits of housing-related tax deductions, such as the mortgage interest deduction, generally decline in value as individuals age.Using Internal Revenue Service Statistics of Income (SOI) data, NAHB was able to report for the first time how various tax deductions are used by different age groups. The analysis demonstrates that the biggest beneficiaries are younger households, who typically have large mortgages, small amounts of equity in their homes and growing families.

ELGIN, IL - September 21, 2010 - (RealEstateRama) -- Governor Pat Quinn today announced the state has committed federal Low-Income Housing Tax Credits to finance a planned creative arts community in downtown suburban Elgin. The new Artspace development will provide affordable housing and will support Elgin’s arts community. The project is expected to create approximately 100 construction jobs

COLUMBUS, OH - September 17, 2010 - (RealEstateRama) -- Ohio Attorney General Richard Cordray’s lawsuit against Barclays Capital Real Estate dba HomEq Servicing, headquartered in New York City, just took a legal step forward with a recent decision by a state court.

NEW YORK, NY - September 14, 2010 - (RealEstateRama) -- Antoinette Hodgson pleaded guilty today to conspiracy to commit wire fraud in connection with her operation of a $45 million Ponzi scheme that fraudulently solicited investments in real estate from more than 20 New York and New Jersey investors, announced Preet Bharara, U.S.