A map showing property tax amounts homeowners pay in each U.S. state
Property Tax Concerns Rise Among Homeowners Property taxes, while not typically the largest portion of monthly housing costs, are becoming a source of stress for many homeowners. Since 2019, property taxes have increased by 27.4%, which might explain why a significant 67% of homeowners who account for taxes reported that their bills exceeded their expectations […]
Homeowners face financial difficulties leading to an increase in foreclosures
Increase in Foreclosures Across the US Foreclosure rates are climbing again in the United States, putting many homeowners in precarious situations. According to recent data from Attom, a prominent real estate analytics firm, there were 35,697 properties with foreclosure filings in August, encompassing default notices, scheduled auctions, and bank foreclosures. This marks a slight 1% […]
Homeowners face equity losses as inflation surpasses price increases.
Affordability Concerns in Housing Market The panelists on the “Big Money Show” have raised alarms about the growing issues of housing affordability. They’re suggesting that factors like Biden’s regulations, rising inflation, and immigration surges are intensifying the narrowing supply, which could jeopardize Americans’ dreams of homeownership unless decisive action is taken. Home prices do enhance […]
Liz Weston: Homeowners lose step-up tax basis if they are not married
Dear Liz: I co-own a house with my long-term boyfriend. If one of us passes away, how does the capital gains step-up impact the surviving partner? Answer: The deceased partner’s share of the home gets a new tax basis, while the survivor’s Portion remains unchanged. A tax basis is crucial for figuring out how much […]
New initiative to support certain Cincinnati homeowners facing property tax debt relief.
Cincinnati Property Tax Relief Initiative Cincinnati – Assistance may be on the way for families and homeowners burdened by unpaid property taxes, potentially arriving in the form of a letter in your mailbox. Mayor Aftab Pureval, alongside Hamilton County Treasurer Jill Schiller and local housing advocates, introduced a new initiative early Monday morning: the Property […]
Suffolk officials advocate for stronger measures against ‘fire chasers’ who allegedly exploit homeowners in distress.
Suffolk County Moves to Regulate “Fire Fighters” Legislators in Suffolk are looking to curb the actions of what they call “fire fighters.” This term refers to private board-up crews that are accused of taking advantage of families in distress by encouraging them to sign expensive contracts right after a traumatic fire. According to both officials […]
Homeowners might face a new property tax in place of stamp duty.
Proposed Annual Property Tax for High-Value Homes Homeowners with assets exceeding £500,000 might soon face an annual property tax as part of a bold strategy to replace the current stamp duty system. According to reports, the Treasury is contemplating this new proportional property tax in its upcoming budget for the fall. Instead of the existing […]
Homeowners in Long Island anticipated to get STAR checks by mid-October, according to the state.
Over half a million residents of Long Island have submitted applications for a rebate through the state’s school tax relief initiative, which is set to kick off around mid-October. Approximately $698.4 million in STAR relief will be distributed to 582,000 Long Island homeowners, starting this fall when school tax payments cease, as noted by the […]
Piece of meteorite that broke through a homeowner’s roof is billions of years old and predates Earth, says expert
Meteorite Fragments Found to Be Billions of Years Old A geology professor has stated that the meteorite fragments that damaged a roof in Georgia last June are believed to be billions of years old, dating back to the early days of Earth. Scott Harris, a geologist at the University of Georgia, noted that many people […]
Homeowners withdrawing homes from sale as buyers reject increased prices
Home sellers are opting to remove their houses from the market instead of dropping prices to address rising housing costs. The past five years of a booming housing market have cooled, largely because buyers are struggling with increased prices and ongoing high-interest rates. This has led many sellers to avoid accepting lower profits and, as […]