News about properties and real estate
Florida lawmakers want to help renters with cuts in property taxes The more than 850,000 residents of Broward and Palm Beach counties who rent their homes would benefit by changes key lawmakers say they are now willing to make to the tax cut plans taking shape in the Legislature. Until now, many Republican lawmakers had …
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Homeowners, lawmakers gain from GOP tax reform. Is it fair? [Florida] The Republican House leadership says its proposal to eliminate taxes on homesteaded properties while increasing the sales tax from 6 percent to 8.5 percent is a bold attempt to address inequities dogging the current system. Critics say the proposal would hurt the poor, renters …
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Real estate fund’s manager fleeing REITs tied to apartments Kenneth Heebner, the manager of the top-performing real estate mutual fund over the last 10 years, said the economic damage from high-risk mortgage defaults is going to get worse. “We have a trillion dollars of subprime mortgages, and we’re going to have huge defaults,” Heebner, 66, …
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Ballooning foreclosures tax court clerks, judges [South Florida] For months, a ceaseless routine has gripped the St. Lucie clerk of court’s civil office: New mortgage foreclosure lawsuits arrive in unprecedented numbers – huge stacks, some a foot or 2 tall. But as soon as one stack is processed and emptied from the in-box, another dozen …
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A cooling trend in real estate flipping If buyers have felt lonely making the sole bids on houses these days, it might be because home flippers, those who buy property with the intention of renovating and reselling quickly, haven’t been as active in the last year. “Flipped” houses, considered by analysts to be those owned …
Tax switch could bring relief, pain House leaders want to swap a sales tax hike for eliminating homeowners’ property taxes. Lawmakers in the state House of Representatives are ready to stop charging many Floridians property taxes — by making the state’s sales tax the highest in the nation. House Republican leaders just unveiled a package …