Arizona rental households had been paying an average of $51/month in transaction privilege taxes, a burden that negatively affected the stateās property managers, as well as its renters. With housing affordability an increasing concern, Arizona REALTORSĀ® redoubled their efforts to repeal the tax, and with support from an Issues Mobilization Grant, they did.
This is Only the Beginning…
We are only a few weeks into legislative sessions and special and primary elections are occurring around the country. 2018 is going to be a busy year for REALTORĀ® advocacy. As NAR increases its influence in this uncertain legislative, regulatory and political environment, weāll need all hands on deck. Our first step was the reorganization of the former Community & Political Affairs and Government Affairs teams into a singular Advocacy Group. Weāve chosen Bill Malkasian to lead this new team as Chief Advocacy Officer, bringing greater synergy to the associationās federal, state, and local advocacy efforts. We are looking forward...
LIBOR Goes to Bat for Fair Housing
When the Spokane City Council presented a Sustainability Action Plan calling for extreme limitations on natural gas implementation, the REALTORSĀ® reacted in force with multiple REALTORĀ® Party resources. It was a powerful Call for Action that discouraged the plan, and they are now focused on helping the city find reasonable solutions for increased energy efficiency.
State Capital Gains Tax Rates
Most real estate professionals are familiar with capital gains taxes especially at the federal level. Meanwhile, state capital gains tax rates might also impact the bottom line. Capital gains taxes are paid at the time of sale of an asset (i.e. real estate). As of May 2018, Guam has the highest maximum rate at 20 percent whereas North Dakota has the lowest maximum rate at 2.9 percent.Ā DownloadĀ State Real Estate Capital Gains Rate ChartĀ (log-in required) to learn what your state’s capital gains tax rate.
Celebrating National Homeownership Month
Throughout June, National Homeownership Month, we recognize the vital role REALTORSĀ® play as stewards of the American Dream of homeownership. This is an excellent opportunity to encourage people around the country to learn more about homeownership opportunities and financial management plans.
Akron Cleveland REALTORSĀ® Is Poised to Reach 266,000 Consumers
Mandatory point-of-sale inspections and associated escrow requirements can add significant challenges to buying a home, and the Akron Cleveland Association of REALTORSĀ® is working to get these ordinances off the books in cities throughout the region it serves. The association will educate consumers with a compelling 12-page insert in two regional magazines.