When it comes to homeownership carrying costs, property taxes and homeowners insurance are among the most expensive and unavoidable. In recent years, insurance premiums in particular have risen across the U.S. largely due to climate change-driven natural disasters; increased claims tend to result in upped premiums for every market an insurer covers, rather than only…
Editor’s Note: The RISMedia series Legislative Round-Up looks at pending and passed federal and state-level legislation that impacts real estate professionals. New York City passes tax on luxury-valued second homes New York City has enacted a new tax aimed at luxury second homes. The “pied-à-terre” (French for “foot on the ground,” and used in reference…
Editor’s Note: The RISMedia series Legislative Round-Up looks at pending and passed federal and state-level legislation that impacts real estate professionals. Road to Housing Act removed from defense bill The Road to Housing Act, a bipartisan comprehensive housing reform bill passed by the U.S. Senate, has met a new roadblock. The bill, previously attached to…
Supreme Court Justice Oliver Wendell Holmes Jr. once wrote, “Taxes are the price we pay for a civilized society.” As a real estate agent, though, you know to always look for possible price deductions. One of the most common taxes homeowners face is a property tax, one of many increasing carrying costs when it comes…