Mayor signs property tax bill designed to help owner-occupants Oct 31, 2009
Mayor Mufi Hannemann today gave his approval to a bill creating a separate "homeowner" classification for real property tax assessments ... Mayor Mufi Hannemann today gave his approval to a bill creating a separate "homeowner" classification for real property tax assessments. (Honolulu Star-Bulletin)
'Technology' plays large role in wealth inheritance Oct 31, 2009
Technologies are defined here to include everything one needs to make a living--from material things such as farms, herds and other real property, to knowledge, skills and other valuable resources. Hunter-gatherers, for example, rely on their wits, social connections and strength to make a living. (EurekAlert!)
24 South St. Notebook Oct 31, 2009
Tuesday, June 30, 2009 1:50 PM EDT. The address for Auburn's Memorial City Hall on South Street is familiar to many follower's of the city's government and its political scene. (Auburn Citizen, NY)
Inequality, 'Silver Spoon' Effect Found In Ancient Societies Oct 31, 2009
The passing on of material things--such as farms, herds and other real property, or even knowledge, skills and other valuable resources--plays a large role in whether the next generation will accumulate or maintain high wealth status. (Credit: iStockphoto). (Science Daily)
Signs of green shoots Oct 31, 2009
Just when developers are about to look forward to brighter days ahead, the proposed reimposition of the real property gains tax (RPGT), albeit at a flat 5% rate irrespective of holding period and category of owners, is seen as a dampener of the overall feel good sentiment. Although some are not overly concern that the RPGT will slow down sales substantially, especially among first time buyers and owner occupiers, some say it will impact the investor market. (The Star Online, Malaysia -- Business)
Will the 5% real property gains tax be a deterrent? Oct 31, 2009
Will the 5% real property gains tax be a deterrent ... Will the 5% real property gains tax be a deterrent ... AS the property investor goes through his checklist on why he should invest in Malaysia, that 5% real property gains tax (RPGT), to be effective Jan 1 next year, will be a bit of a blemish. (The Star Online, Malaysia -- Business)
Critics say new Hawaii property tax category will be costly for all Oct 30, 2009
Gary Kurokawa, head of the Budget l Services Department's Real Property Assessment Division, said that over all classes, assessments are down about 10 percent from the previous year ... "We recognize that we do have a financial problem that needs to be addressed that will probably result in us having to deal with an adjustment in real property taxes," Oto said. (Honolulu Advertiser)
Sunrise to build 460 condo units in Mont Kiara Oct 30, 2009
On the Governments proposal to reimpose the 5% real property gains tax (RPGT) from Jan 1, Tong said it was not a bad idea as this would help curb speculative buying in the property industry. The industry will like to see sustainable long-term growth and not a market bubble. (The Star Online, Malaysia -- Business)
DeWitt Clintons back taxes repaid today Oct 29, 2009
The payment that will be handed into the county today includes the overdue real property taxes, school taxes, interest and penalties, and a portion of the overdue water bills, Nahal said. Albany County collects delinquent taxes, interest and penalties on behalf of the city. (Albany Business Review, NY)
Republicans look to maintain majorities Promise lower taxes, increased business tax base Oct 29, 2009
The Republican candidates for Town Council and Board of Education have proposed a unified front in the battle over residential real property taxes ... "The only way to reduce residential real property tax rates without harming town services or education is a two-fold attack, coupling an increase in the commercial tax base with wise use of tax dollars.". (Town Times, CT)
Air Force wrapping up Kelly transfer next year Oct 29, 2009
Through partnering with the , the City of San Antonio, the Texas Commission on Environmental Quality and the Air Force Center for Engineering and the Environment, we are one step closer to returning this valuable resource to the community, says Bob Moore, Air Force Real Property Agency director ... The Air Force Real Property Agency is responsible for environmental remediation and the transfer of land at 40 former Air Force installations around the country. (San Antonio Business Journal, TX)
School bond, 15th St. School sale on Nov. 3 ballot Oct 29, 2009
Last updated on Wednesday, Oct 28, 2009 - 11:28:38 am MDT Douglas, AZ. Douglas Dispatch Print Edition. (Douglas Daily Dispatch, AZ)
Mutiara Goodyear lauds RPGT Oct 29, 2009
KUALA LUMPUR: Mutiara Goodyear Development Bhd believes the Governments proposal to reimpose the 5% real property gains tax (RPGT) from Jan 1 next year will give certainty and market clarity to the property industry ... It was reported that under Budget 2010, the RPGT would be imposed on gains from the disposal of real property irrespective of the holding period and category of owner. (The Star Online, Malaysia -- Business)
Enfield police kept busy fighting crime Oct 29, 2009
For instance, Quatze Maurice Lyons, of Batchelor Avenue, is charged with damage to real property, damage to personal property and discharging a weapon into an occupied dwelling, the night of Oct. 5. According to Smith, Lyons was allegedly parked in front of a residence on Bell Street in a white Crown Victoria. (Roanoke Rapids Daily Herald, NC)
Farming for tax breaks Oct 28, 2009
You'll also be exempt if it produced a profit in three of the past five years, uses real property worth at least $500,000 to carry out the business, or uses other assets worth at least $100,000 on a continuing basis. If you earn less than $250,000 and don't meet these tests, you can apply for a discretion using the existing criteria. (Sydney Morning Herald -- Business)
Council passes homeowner tax classification granting some relief Oct 28, 2009
The City Council revived a proposal to create a separate "homeowner" class for real property taxation after a last-minute appeal from Mayor Mufi Hannemann ... The City Council revived a proposal to create a separate "homeowner" class for real property taxation after a last-minute appeal from Mayor Mufi Hannemann. (Honolulu Star-Bulletin)
Fee proposed for trash pickup (741) Oct 28, 2009
We can t operate the same way we ve been operating, and real property tax revenues make up nearly two-thirds of the current $154 million county operating budget, he said. Commission Vice Chair Charles Fulks Jr. asked about the possibility of furloughs of county workers, and Heu said the recently approved public-worker contracts allow the state s mayors to furlough workers up to 18 days in the current fiscal year, and 24 days in the next fiscal year. (Lihue Garden Island, HA)
Assembly argues over revenue sharing Oct 28, 2009
"Do we wish to be able to take an ever-increasing number of dollars out of the pocket of real property taxpayers?" Coffey said. "This is going to raise the tax cap this year and the next and the next.". (Anchorage Daily News)
Summit State Bank Reports Third Quarter Profit and Declaration of Dividend Oct 27, 2009
The increase in nonperforming loans was primarily attributable to multiple loans to one borrower with a majority secured by real property. "We expect that nonperforming loans will continue to surface as the financial conditions of borrowers are further impacted by the current economy. I believe it is safe to assume that we will continue to build our allowance for loan losses through year end as conditions dictate," said Mr. Duryea. (Primezone Releases)
Post-budget thoughts Oct 27, 2009
The re-introduction of real property gains tax and the imposition of a minimum 5% tax on gains from real property disposal by any person may have a somewhat dampening effect on the recovery of the broad property sector. The overall strategic thrust of Budget 2010 is difficult to fault but the success of its measures will depend on how well internal and external challenges are met. (The Star Online, Malaysia -- Business)
Real property gains tax and green tech incentives Oct 27, 2009
Will I need to pay real property gains tax (RPGT) ... If you give the house to your son as a gift, you will be exempted from tax, as it is proposed that all gifts of real property between parent and child, husband and wife, grandparent and grandchild would be exempt from tax. (The Star Online, Malaysia -- Business)
Mixed reaction to property tax Oct 27, 2009
PETALING JAYA: The Governments proposal to reimpose the real property gains tax (RPGT) may ensure a more balanced property market in the long run but industry players see it as counter-productive to the ongoing efforts to stimulate investments in the property sector. Under Budget 2010, the RPGT of 5% would be imposed from Jan 1 on gains from the disposal of real property irrespective of the holding period and category of owner ... Although the real property sector had enjoyed some measure of... (The Star Online, Malaysia -- Business)
Unexpected tax moves Oct 26, 2009
For one, the re-introduction of the real property gains tax to be effective from 1 Jan 2010 came without forewarning, and was explained as a measure that will be taken to increase the tax base of the nation. This does not seem congruent with the fact that revenue from Real Property Gain Tax (RPGT) has not been particularly significant historically ... Nevertheless, the tax base for the new RPGT regime will be widened to include the taxation of gains on individuals who dispose real property... (The Star Online, Malaysia -- Business)
Understanding tax exemptions Oct 26, 2009
The PricewaterhouseCoopers team answers questions on the service tax, green technology and real property gains tax ... With the reintroduction of real property gains tax we do hope that which is of lesser burden to the Rakyat would apply, says the Second Finance Minister ... The stamp duty exemption would only apply to buildings or residential properties bought directly from real property developers and the exemption is only given once to the first owner of the building. (The Star Online, Malaysia -- Business)
5% cap for real property gains tax Oct 26, 2009
PETALING JAYA: The Government will issue an order to cap the real property gains tax (RPGT) at 5. Second Finance Minister Datuk Seri Ahmad Husni Hanazdlah reiterated the RPGT of 5% was imposed on gains from the disposal of real property irrespective of the holding period and category of owner ... In the Budget 2010 presentation, the Government proposed that real property gains tax at a fixed rate of 5% be imposed on the gains from the disposal of real property effective Jan 1, 2010, Husni said... (The Star Online, Malaysia -- Business)
Stirring up Big Bear Lake Oct 24, 2009
The MWD has jurisdiction over district-owned real property, the water surface of the lake and the land area below elevation 6,743. 25 feet. (Big Bear Grizzly, CA)
Making right buy can result in big gain Oct 24, 2009
The exemption from real property gains tax (RPGT) for profits made from property sales will also be one of the inducements for more buying and selling activities. (Under Budget 2010, the Government has proposed to reimpose the RPGT next January. (The Star Online, Malaysia -- Business)
Man arrested after deputy is run over Oct 24, 2009
Those involved will face charges of malicious injury to real property, Sgt. Dowdy said. If they are students, they will be suspended with a recommendation for expulsion, he said. (The Augusta Chronicle)
Property gains tax makes comeback Oct 24, 2009
THE Government has proposed to reimpose real property gains tax (RPGT) for gains arising from property disposal ... He pointed out that from the speech itself, many would have thought that a low rate of tax of 5% would apply to most gains arising from disposals of real property. (The Star Online, Malaysia -- Business)
$4.5 million house in fraud case could be bonanza for Lee County Oct 24, 2009
Homestead is granted to those applicants who possess title to real property, are bona fide Florida residents and live in the dwelling and make it their permanent home. Penalties for homestead fraud. (The News-Press -- Business)
Cobb flood victims get tax break Oct 23, 2009
The balance of the unpaid real property and personal property tax must be paid in full by April 15. Many homeowners have already paid their taxes automatically out of an escrow account, in which case they will not be able to take advantage of the waiver, county commissioners said. (Atlanta Journal-Constitution -- Metro)
GJDC hosts annual harvest festival Oct 23, 2009
Friday October 23, 2009. Nija, left, Kiya and Deja Burwell and their nanny, Ms. Judy, decorated pumpkins at the harvest festival. (Queens Chronicle, NY)
Wind turbine tax promise lacks substance Oct 22, 2009
As I have investigated these claims of promised new tax revenues, I was struck by what is not shared: Subsequent appeals of the taxes, attempts to claim the turbines are not real property and affects of accelerated depreciation on these turbines thereby rapidly reducing the taxable value ... However, what the statute goes on to state is that the turbine company is entitled to depreciate those turbines down to as low as 30 percent of the trended real property cost basis. (Princeton Bureau County Republican, IL)
IDB approves PILOT for Praxairs gas line Oct 22, 2009
5 million of real property for s planned $50 million gas pipeline, which will run from Pidgeon Park to Valero Refining Co. s facility at 2385 Riverport Road. The Danbury, Conn. (Memphis Business Journal, TN)
Budget incentives for property sector Oct 21, 2009
ABOLISHMENT of the real property gains tax, reduction in stamp duty for properties in a certain price range, and the construction and property sector gaining most from the stimulus packages announced these are clear indications of the Governments focus on this sector to help accelerate economic growth. The positive multiplier effect from an improved performance in the construction and property sector is tremendous, with the stakeholder chain including the manufacture and supply of building... (The Star Online, Malaysia -- Business)
Harriman board says developer may be picked within 6 weeks Oct 21, 2009
The closed session was legal under a provision of state law allowing such sessions for boards to discuss proposed acquisition, sale or lease of real property, according to attorneys with Empire State Development. No votes were taken during the closed session, said John Egan, a Harriman board member and commissioner of the state Office of General Services. (Albany Business Review, NY)
Court rules former TV reporter was never married to Henry Taub Oct 20, 2009
Both of them also listed themselves as single on numerous legal documents including tax returns, homestead exemptions and sworn real property records. Mr. Taub and Ms. Conway even signed a Nonmarital Relationship Agreement in 1987, noted Jackson s partner and co-counsel, Eileen O Neill. (KHOU.com, TX)
Rethinking cable TV service? Oct 20, 2009
If intellectual property is real property then why are there no property taxes on it. Cable bill or commercials NOT BOTH. (Atlanta Journal-Constitution -- Business)
Praxair to build $50M gas line for Valero Oct 17, 2009
The IDB staff has recommended a 10-year tax assessment freeze on real property involved in the project ... The tax abatement would apply to $12 million in real property, saving the company $2. (Memphis Business Journal, TN)
Town gets revaluations report Oct 16, 2009
Most owners of real property can expect to see a 10 percent to 12 percent increase in taxes on real property. Most owners of personal property can expect to see an 18 percent decrease in taxes on personal property. (Washington Daily News, NC)
There are restrictions, but an SMSF can buy property without having the funds to pay the entire cost. Oct 16, 2009
Exceptions include business real property, publicly listed investments, such as shares, and widely held trusts, such as managed investments. Email questions to max@taxbiz. (Sydney Morning Herald -- Business)
Officials argue over budget Oct 14, 2009
The Property tax increase for 2010 was originally projected at 57 percent, but at last week s town board meeting, Republican Supervisor Reggie Crowley said he checked with the Columbia County Office of Real Property to find out the total assessed value of the town and the percentage increase was cut by more then half. A war of words has continued to rage between Crowley and Town Councilman Robert Sacks over the issue. (Hudson Register Star, NY)
Prince Georges OKs new tax incentive area Oct 14, 2009
Prince George s County offers 10-year real property tax credits for increases to real property taxes as a result of qualified new construction or property improvements. In focus areas, there is a 10-year business personal property tax credit that is 80 percent of the amount of tax otherwise due on new qualified business personal property. (Washington Business Journal, DC)
Public records for Oct. 13, 2009 Oct 14, 2009
SUITS: Sean Stiller v. Half Time Sports Bar & Grill of DeLand LLC, other negligence; SunTrust Bank v. Giovanna Johnson, real property; Sheri L. Cole v. Jennifer Rosenblum, auto negligence; Deutsche Bank National Trust Co. v. Rodney S. George, real property; Flagstar Bank FSB v. Norberto Medina, real property; SunTrust Mortgage Inc. v. Brandon L. Roush, real property; H. Ronald Howe v. Maureen Gasink, real property; GMAC Mortgage LLC v. Paul Correia, real property; Everhome Mortgage Co. v.... (Daytona Beach News Journal -- Local)
State and Local People on the Move for Sunday, October 11, 2009 Oct 12, 2009
Handlin s practice focuses on complex commercial litigation and appeals with disputes involving real property, toxic torts, class actions, insurance, licensing, employment and other contract issues, as well as cases involving entertainment and intellectual property. Handlin began practicing law with New York-based Simpson Thacher Bartlett. (Lihue Garden Island, HA)
Galveston bar and restaurants' smoking ban fight faces long odds Oct 11, 2009
Such an accounting, called a Takings Impact Assessment, is required under the state s Private Real Property Rights Protection Act, the association argues ... Under the state law, a taking is a governmental action that causes a reduction of at least 25 percent in the market value of the affected private real property. (KHOU.com, TX)
MY VIEW: Take a hard look at system before trying to fix it Oct 10, 2009
I am encouraged by Ms. Jamison s support of real property tax reform ... mmsdan2003 wrote on Oct 8, 2009 9:59 AM:" Interesting opinion. However, the Town of Stuyvesant, Supervisor Valerie Bertram and the assessors office must be doing someting right since they've received the "Excellence in Equity Award" again in 2009 from the NYS Office of Real Property Tax Services for meeting high standards for assessment administration. Stuyvesant being one of only three towns in our county that have... (Hudson Register Star, NY)
Copake town budget draft packs 32 percent tax hike Oct 10, 2009
Crowly said he consulted with the Columbia County Office of Real Property this week, finding that the town s assessed value is roughly $426. 7 million. (Hudson Register Star, NY)
Amica Mature Lifestyles Announces First Quarter Results for Fiscal 2010 Oct 9, 2009
Known risk factors include, among others, risks related to dependence on the ability of Amica's co-tenancy participants to meet their obligations; interest rate volatility in the marketplace; job actions including strikes and labour stoppages; possible liability under environmental laws and regulations, relating to removal or remediation of hazardous or toxic substances on properties owned or operated by Amica; risks associated with new developments, including cost overruns and start-up losses;... (CCNMatthews Press Releases)
Garcia warns colleagues of tax cut cost Oct 9, 2009
Garcia's warning came during debate on several tax proposals, including a measure supported by the Hannemann administration to create a separate "homeowner" classification for real property tax assessments. The measure is an attempt to separate the tax rate for owner-occupants, giving the city the ability to adjust rates for investors, speculators or other property owners who do not live in their homes. (Honolulu Star-Bulletin)
Hall deal includes 'break-up' fee Oct 8, 2009
The letter says bowl parent Peach Bowl Inc. has "identified approximately 1 acre of real property (the "Site") which it believes will serve as a suitable location for the Hall." Details on the site, however, were not included and officials have insisted that they are investigating four different sites. Stokan said "break-up" fee was included as a safety net for the NFF.. (Atlanta Journal-Constitution -- Sports)
24 South St. Notebook Oct 5, 2009
Tuesday, June 30, 2009 1:50 PM EDT. The address for Auburn's Memorial City Hall on South Street is familiar to many follower's of the city's government and its political scene. (Auburn Citizen, NY)
Multiple county initiatives launched Oct 5, 2009
With the roll-out of the county s first online kiosk, residents are now able to use designated touch-screen computers in the Kapule Building to pay their sewer bill, real property taxes, or motor vehicle registration online. In addition, information on employment, the one-stop permitting center, Boards and Commissions, and Connect CTY, the county s emergency mass notification service, can be accessed from the kiosk, along with the mayor s quarterly report card and recent news releases. (Lihue Garden Island, HA)
Tax hike in Albany budget Oct 3, 2009
"Approximately 50 percent of our real property is tax-exempt, largely as a result of state ownership," Jennings said. "This tax exempt property means our residential and commercial property owners are paying more than they should.". (Albany Times Union)
MY VIEW: Give taxpayers back STAR rebate checks Oct 2, 2009
The Senate Republican Majority put forward several measures again and again to reform the real property tax system ... I m pretty sure when I ran for office I heard promises from the governor, the new Democrat leadership as well as rank and file members across the state that real property tax reform was the number one priority. (Hudson Register Star, NY)
3 charter amendments move forward Oct 2, 2009
04A, a portion of the Code of Ethics dealing with disclosures, to extend the list of people required to file a list of all real property. The amendment, if approved, would include any employee delegated or authorized to act on behalf of the director of finance as well as the mayor, council members, all department heads and deputies, members of boards and commissions, and the purchasing administrator. (Lihue Garden Island, HA)
Honolulu rail funding shortfall shrinks in city's latest estimate Oct 2, 2009
"If you keep on taking money from the bus, and you want to keep your bus operations at current levels, you're going to have to find the money somewhere else. That's more likely to be real property taxes ... or you have to raise the general excise tax again.". City Council Chair Todd Apo said the council will need to hold a detailed discussion before approving of material changes to the city's rail financial plan, including diverting money from the bus to rail. (Honolulu Advertiser)
Business gains voice in Schenectady Oct 1, 2009
Also, the board will continue to consist of nine people, seven of whom must own real property within the assessment district. Under the new process, a nominating committee will forward the names of candidates to the mayor. (Albany Business Review, NY)
Roll up the welcome mat to TribesPrinted in the Herald and News Sept. 27 Sep 30, 2009
The language in the original federal act that restored the Klamath Tribes states that the interior secretary shall accept real property in trust for the benefit of the tribes. Hard to believe. (Klamath Falls Herald & News, OR)
Council appoints Hudspeth mayor of Murray Sep 26, 2009
The council also approved the second readings of ordinances levying ad valorem taxes for real property, motor vehicles and watercraft. Story created Sep 25, 2009 - 15:32:52 EDT.. (Murray Ledger & Times, KY)
Treats Pond coming to a head Sep 26, 2009
An easement is an investment in real property, and recorded in the Registry of Deeds, said Town Counsel Lou Ross. A license is technically a privilege, it doesn t need a town meeting vote and is revocable at will. (Cohasset Mariner, MA)
Isle housing costs now highest in U.S Sep 23, 2009
The median owner-occupant real property tax bill in Hawai'i is $1,368; 23. 4 percent pay less than $800 and 44. (Honolulu Advertiser)
Trusting heirs to manage estate Sep 22, 2009
Changing title to real estate may sound easy, but I have seen countless cases where title to real property has become clouded by deeds containing incorrect legal descriptions, defects in title, etc. In most cases, it would have been avoided by using a title company to verify the information or consulting with an estate planning attorney. (Fresno Bee -- Business)
Manhattan U.S. Attorney Charges Hassan Nemazee in $292 Million Ponzi Scheme Sep 22, 2009
Among other things, Nemazee used the proceeds of his fraudulent schemes (1) to make donations to the election campaigns of federal, state, and local candidates; (2) to make donations to political action committees; (3) to make donations to charities; (4) to purchase real property in Italy; and (5) to make monthly maintenance payments on real properties in Manhattan and Katonah, N.Y.. Nemazee, 59, currently resides in Manhattan. (PR Newswire)
Public Meetings for Sunday, September 20, 2009 Sep 22, 2009
38 real property tax appeals, including 24 by either Gay and Robinson Inc. or Robinson Family Partners, to be heard by appraiser. 5 proposed stipulations. (Lihue Garden Island, HA)
