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Property Tax

Who will pay Florida’s sky-high property taxes? Voters must choose

Affordability, HWmember, Policy, Property Tax, The Builder's Daily /

Florida homeowners didn’t vote for higher property tax bills, but they’re getting them anyway. A historic wave of in-migration caused the hike. Gov. Ron DeSantis called lawmakers into a special session last week and pushed through a resolution to put a constitutional amendment before voters in November that would more than quadruple the state’s homestead […]

Who will pay Florida’s sky-high property taxes? Voters must choose Read More »

Will getting rid of property taxes make Florida more affordable?

Affordability, eXp Realty, First-Time Homebuyers, Florida, Homebuyers, HWmember, Property Tax, Real Estate /

Florida Gov. Ron DeSantis’ proposal to phase out property taxes for most primary homeowners is rapidly becoming one of the state’s most consequential housing debates in years. Supporters argue it could ease affordability pressures while critics warn it may fuel higher home prices and reshape local tax structures. The proposal would raise Florida’s homestead exemption

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HUD audit warns 1,237 reverse mortgage accounts may run out

Flood insurance, HECM, Homeowners insurance, HUD, HWmember, Mortgage, Property Tax, Reverse, Reverse Mortgage Daily /

An audit from the U.S. Department of Housing and Urban Development (HUD)’s Office of Inspector General (OIG) found that more than 1,200 reverse mortgage borrowers could exhaust funds set aside to pay property taxes and insurance years earlier than expected, potentially exposing HUD to hundreds of millions of dollars in losses. The audit, released May

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Georgia LIHTC credit match stays in place for now

Affordable housing, Georgia, HWmember, Low-Income Housing Tax Credit, Multifamily Housing, Policy, Politics, Property Tax, The Builder's Daily /

Georgia lawmakers left the state’s main construction incentive for affordable housing untouched this year. And they offered no new relief from rising property tax valuations on apartments that rely on the Low-Income Housing Tax Credit (LIHTC) program. Senate Bill 476 served as a centerpiece of a Republican push to finance income tax cuts. The bill

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No exodus after all? Manhattan luxury market sales accelerate under Mamdani

Compass, Douglas Elliman, Home Prices, Home Sales, Housing Market, HWmember, Luxury Real Estate, Manhattan, New York City, Politics, Property Tax, Real Estate, Tax /

For months, some affluent New Yorkers warned they would leave if progressive policies took hold at City Hall. With Zohran Mamdani now mayor and debate intensifying over a possible city wealth tax or property tax increase, early market data shows no sign of a luxury exodus. Instead, Manhattan’s top tier appears to be accelerating. HousingWire

No exodus after all? Manhattan luxury market sales accelerate under Mamdani Read More »

Kentucky bill would freeze property taxes for senior homeowners

Affordability, Aging in Place, HWmember, Kentucky, Mortgage, Property Tax, Reverse /

A proposed constitutional amendment that would freeze property tax assessments for 65-and-older residents in Kentucky has cleared a state Senate committee — one of several efforts to limit rising tax bills for elderly homeowners. Senate Bill 51, sponsored by state Sen. Mike Nemes (R-Shepherdsville), would lock in the assessed value of a senior’s primary residence

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Property tax burdens vary widely as states debate senior relief

Affordability, Baby Boomer, Florida, Gen X, Housing Market, HWmember, Ohio, Property Tax, Retirement, Reverse, Tennessee, Texas /

Property taxes can feel like a minor nuisance in some states and a crushing expense in others — a reality detailed in a new WalletHub analysis. The average U.S. household pays $3,119 per year in property taxes, according to U.S. Census Bureau data cited in the report. Even renters are affected. Roughly 35% of households

Property tax burdens vary widely as states debate senior relief Read More »

Mortgage escrow misconceptions persist as payment amounts rise

Homeowners insurance, HWmember, Lereta, Mortgage, Mortgage Servicing, Property Tax, Servicing /

Borrowers say they are confident in their understanding of mortgage escrow accounts, but misconceptions persist. And rising property taxes and homeowners insurance premiums continue to drive payment increases that many homeowners do not expect. These are the conclusions of a new survey from LERETA, a provider of technologically advanced tax and flood services for the

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Texas proposes property tax cuts for homeowners 55+

Housing Market, HWmember, Property Tax, Reverse, Texas /

Texas Lt. Gov. Dan Patrick recently announced “Operation Double Nickel,” a proposal that would lower the age for senior property tax benefits from 65 to 55 and expand homestead tax exemptions. According to Patrick’s website, the plan “would accelerate school property tax cuts, reduce school property taxes, and freeze appraised values for more than 3.3

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New York raises senior property tax exemption to 65%

Aging in Place, HWmember, Legislation, New York, Property Tax, Reverse /

New York Gov. Kathy Hochul has signed legislation to expand property tax exemptions for seniors to up to 65% of their home’s assessed value, raising the ceiling for the first time in decades from the previous 50% cap. “No New York senior should lose their home because they can no longer afford their property taxes,”

New York raises senior property tax exemption to 65% Read More »