Short Sale, Foreclosure and Strategic Default


Tuesday, June 19, 2007

Tax package offers little for landlords

Tax package offers little for landlords

Article from the herald tribune quoting people upset with the tax reform legislation.

Many of the people from Sarasota and Bradenton in the article were understandably upset by the compromise reached by the Florida legislature.

But they were being pulled to ways. You had second home owners, business owners, and landlords pulling the legislature for a general reduction and you had full time residents saying my property taxes are killing me don't worry about the businesses and the snowbirds.

I am reserving judgment on the legislation until I see my tax bill.

However, there was a quote in the article about California Real Estate a law. A lady said that tax rate portability freed up California real estate. Having lived there for 14 years and still being out there a fair bit, I would say that the fact that 55 year old can move once without increasing their taxes had almost nothing to do with the bubble. It is a nice law for people facing retirment but it had nothing to do with the bubble.

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