See if lender will let you pay insurance, taxes San Francisco Chronicle, USA - My suggestion: See if your lender will release you from the escrow obligation so you can pay your own insurance premium and property tax. ...
Portability spews tax fight after sale of Tampa house Tampabay.com, FL - By Bill Varian, Times Staff Writer TAMPA ? Tony Beeny is doing what lots of Floridians are doing these days ? challenging his property tax bill. ...
West Dundee eyes tax hike to cut deficit The Courier News, IL - And a 20 percent increase in the village's property tax levy would make up about half the deficit in the village's general fund, Village President Larry ...
A&B Properties Sells Sacramento Office Building MarketWatch - The property's primary tenant, occupying 87% of the building, is the State Compensation Insurance Fund. After this sale, A&B Properties' commercial ...AXB
What: Boulder County Treasurer?s Office tax lien sale. Longmont Daily Times-Call, CO - Nov 30, 2008 Buyers of the liens will pay the delinquent taxes, interest and fees the property owners owe. The annual tax-lien sale ? along with the property taxes that ...
New Orleans hosting Internet tax sale Monday WWL, LA - ... and all payments must be received by this Friday. This is the second year the city has used the Internet to host the auction of property eligible for sale.
Land bank top priority in 2009 Huntington Herald Dispatch, WV - Nov 29, 2008 If a lien is purchased at a tax sale, the original property owner has 18 months to pay the delinquent taxes plus 1 percent interest per month if they want ...
Source: Google News
Recent News and Articles on the Keywords: tax + property + 0.25 Related to the article below (Last Update: 8/4/2008)
Counties, townships seeking millage renewals MLive.com, MI - Spring Lake Township: Renewal of 0.2271-mill tax for the Tri-Cities Museum. ? Benona Township: 0.25-mill property tax increase for Shelby Area District ...
Adams Golf Announces Results for Second Quarter 2008 MarketWatch - ... 1775 743 Other current assets 1389 1432 --------- --------- Total current assets 65729 60194 Property and equipment, net 1225 1046 Deferred tax asset ...ADGF
Letter: Scale back on tax Topeka Capital Journal, KS - Aug 3, 2008 ...property back in good condition over the next four or five years. That figure should be used to justify a small increase (say 0.20 or 0.25) in sales tax...
EDITORIAL: Just say no to new income tax Anderson Herald Bulletin, IN - Aug 2, 2008 In the past several months, the people of Madison County have been hit with a new wheel tax and an increased statewide sales tax. Property tax relief? ...
HCP Announces Second Quarter 2008 Results WELT ONLINE, Germany - Expect as otherwise noted, these estimates do not reflect the potential impact of future property acquisitions, impairments, realized gains or losses on ...HCP - THC
Danish economic problems grow with bailout of regional bank World Socialist Web Site, MI - Roskilde has been linked closely with the construction and property sectors, providing generous loans to property developers. Reports have claimed that ...
Sullivan County BOE views $90.5 million budget plan Kingsport Times News, TN - ... is about $88.52 million, and that figure is based on flat sales tax revenue and very modest growth in the countywide property assessment, Barnes said. ...
Source: Google News
[PDF]Do Local Governments Engage in Strategic Property-Tax Competition? - JK Brueckner, LA Saavedra - National Tax Journal, 2001 - fmwww.bc.edu ... resentative community. This function relates the community's propertytax rate to
its own ... For realism, the propertytax is also levied on housing. ... -
Private demands for public goods - TC Bergstrom, RP Goodman - American Economic Review, 1973 - JSTOR ... O. 4~ Percent owner occupied 0.00 -4.03 0.25 -4.90* 4.08 ... believe that they pay the
entire property all cases except Illinois we would reject the tax on their ...
An analysis of selected property tax exemptions for timber - WD KLEMPERER - Land Economics, 1982 - JSTOR ... produce forest site bur- dens in the 0.25 to 0.40 range-similar to or perhaps somewhat
lower than those for many competing uses under the same propertytax rate ...
Effects of the Property Tax Reform in Three Types of Cities - SC Bourassa - American Journal of Economics and Sociology, 1990 - Blackwell Synergy ... (0.25) (0,53) ... 4. Mieszkowski uses the term propertytax to refer to taxes on
reproducible capital; he does not consider the effects of taxes on land. ...
Political markets, property tax referenda, and local school spending - JB Stevens, R Mason - Public Choice, 1996 - Springer ... to use state aid rather than divert it to propertytax relief, for ... student were
significantly reduced by higher tax prices (TAXPRICE); a dou- bling ... 0.07 0.25...
Property Tax Inequities on Ranch and Farm Properties RW Spahr, MA Sunderman - Land Economics, 1998 - JSTOR ... a sale oc- curred in September 1990, then B90 is 0.25, B91 is ... Spahr and Sunderman: PropertyTax Inequities FIGURE 1 MAP OF ECOREGIONS (Source: USDA/USDI 1993 ...
Source: Google Scholar
Can purchasing replacement property avoid home-sale tax?
By Bob Bruss
July 12, 2006
DEAR BOB: My home of 30 years has become too large for me to maintain. I would like to purchase a two-family duplex so I can have some rental income for my retirement years. I have been told it is possible to avoid the huge tax on the sale of my home by purchasing a building of equal value. But if I pay the sale tax, I cannot afford to buy a duplex. I am a senior citizen and need to supplement my income. Please clear this up for me --Natalie M.
DEAR NATALIE: If you are a single principal-residence seller, you qualify for up to $250,000 tax-free capital gains. Internal Revenue Code 121 requires you to have owned and occupied your principal residence at least 24 of the 60 months before its sale. If you are married and your spouse also meets the 24-month occupancy test, then you qualify for up to $500,000 tax-free principal-residence sale profits.
But your plan to buy a duplex with the sales proceeds is irrelevant.
If you own your home free and clear, or nearly so, have you thought about a reverse mortgage to provide lifetime tax-free income so you can remain in your home? A reverse mortgage can solve your cash-flow problem. Details are in my special report, "The Whole Truth About Reverse Mortgages for Senior Citizen Homeowners," available for $5 from Robert Bruss, 251 Park Road, Burlingame, CA 94010 or by credit card at 1-800-736-1736 or instant Internet delivery at www.BobBruss.com.
ADDING DAUGHTER AND SPOUSE TO TITLE WAS A BIG MISTAKE
DEAR BOB: A few years ago, we bought a vacation home and added our daughter and son-in-law to the title so they could claim part of the mortgage interest and property taxes they paid. Since then, the vacation home has greatly appreciated in market value. Guess what? They are now getting a divorce. The son-in-law (who we still like very much) claims a one-fourth interest in the vacation home. Is this legal? --Ron R.
DEAR RON: Yes. If he is a one-fourth owner of the vacation home, he remains a one-fourth owner until the divorce is final and the assets are divided between the two ex-spouses.
Unless you needed your daughter and her husband on the title to obtain mortgage financing at the time of purchase, now I'm sure you realize it was a major mistake to add them to your title. At this time, there is no way to undo that situation. In the divorce settlement, the ex-husband will somehow be compensated for his one-fourth interest in your vacation home.
STEPPED-UP BASIS APPLIES TO INHERITED PROPERTY
DEAR BOB: Until I started reading your educational columns, I had never heard about "stepped-up basis." Does this mean, for example, after my dad dies I will inherit his house at its current value and if I sell it the next day I won't owe any capital gain tax? --Nancy H.
DEAR NANCY: Presuming your dad leaves his house to you in his will or his living trust, you will then receive it with a new stepped-up adjusted cost basis of its market value on the date of his death. For full details, please consult your tax adviser.
The new Robert Bruss special report, "Probate Property Profit Secrets Revealed," is now available for $5 from Robert Bruss, 251 Park Road, Burlingame, CA 94010 or by credit card at 1-800-736-1736 or instant Internet delivery at www.BobBruss.com. Questions for this column are welcome at either address.
