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Sun Blog: Taxes

Taxes

FIRPTA Foreign Investment in Real Property Tax Act

FIRPTA Foreign Investment in Real Property Tax Act The United States Federal Tax Law requires that a foreign citizen who sells real estate owned in this country pay taxes on the profit of such sale. To insure that the tax is paid, 15% of the proceeds at closing are withheld and transferred to the United States Treasury. The 15% withholding is mandatory if the seller is a … [Read more...] about FIRPTA Foreign Investment in Real Property Tax Act

Obama signs Homebuyer tax credit bill extension

President Obama signed an extension of the $8,000 tax credit for first-time buyers. The extension adds money for some move-up buyers. The maximum tax credit remains $8,000. Anyone who has not owned a home within three years is considered a first-time buyer. Your purchase must be under contract by April 30, 2010. Your purchase must close no later than June 30, 2010. After Dec. … [Read more...] about Obama signs Homebuyer tax credit bill extension

Like-Kind Exchange of Vacation Homes Under I.R.S. Section 1031

Like-Kind Exchange of Vacation Homes Under I.R.S. Section 1031 ATTORNEYS' TITLE INSURANCE FUND, INC. February 25, 2008 **** FUND NEWS **** The following is a summary of new I.R.S. safe harbor regulations for the exchange of vacation homes from ATTORNEYS' TITLE INSURANCE FUND INC. The Internal Revenue Service ("IRS") has just released safe harbor regulations, effective March … [Read more...] about Like-Kind Exchange of Vacation Homes Under I.R.S. Section 1031

Property appraiser breaks down numbers

By NEIL HUGHES STAFF WRITER Charlotte Sun-Herald Newspaper. Reprinted with permission. January 31, 2008 Frank Desguin wants you to know he does not raise your taxes. That message was the one thing the Charlotte County Property Appraiser hoped to get across at Thursday night’s Northwest Port Charlotte Community League meeting. Desguin took the opportunity to explain how his … [Read more...] about Property appraiser breaks down numbers

Florida Property Tax Amendment

Following is the text of the proposed amendment to the Florida Constitution to the Save-Our-Homes amendment. Your Suncoasteam believes that there should be an open discussion regarding the benefits and problems of this amendment. Your comments are welcome. Please post them below. PROPOSED CONSTITUTIONAL AMENDMENT TO BE VOTED ON JANUARY 29, 2008 NOTICE OF ELECTION I, Kurt S. … [Read more...] about Florida Property Tax Amendment

Property Tax Relief in Charlotte County FL – Real Estate Paradise

Homes for sale in Charlotte County, Florida are a retirement or vacation paradise. Punta Gorda Isles homes offer the best canal access in the state. Port Charlotte homes are a great value. Even in neighboring Sarasota County, North Port homes are very popular. The State of Florida provides property tax relief for a Florida resident's primary home through what is call the Save … [Read more...] about Property Tax Relief in Charlotte County FL – Real Estate Paradise

Property Taxes in Charlotte County, FL

Jim and Andy work hard to provide our customers with up to date information on property values and issues affecting the price and marketability of homes in our area. Charlotte County, FL, including Punta Gorda, FL, Port Charlotte, FL and Rotonda, FL, is a great place to live. The weather is nice almost all year and even in the heat of summer, it is quite bearable. Great weather … [Read more...] about Property Taxes in Charlotte County, FL

How does appraiser come up with home values?

By Frank Desguin, Charlotte Sun-Herald Newspaper. Reprinted with permission. January 27, 2007 As most everyone knows, for the past several years, Florida’s real estate market was a “hot bed” of activity, particularly in Charlotte County and southwest Florida. Since Florida law requires the property appraiser to revaluate all property at 100 percent of fair market value each … [Read more...] about How does appraiser come up with home values?

Florida Homestead Exemption

Homestead Exemptions The filing period for Florida Homestead Exemptions for those whose primary residence is in the State of Florida is January 1 through the last day of February each year. If you own the home in which you live on January 1, you qualify for the exemption. If you think you qualify you can visit the Charlotte County Property Appraiser's office on Murdock Circle … [Read more...] about Florida Homestead Exemption

Transfer of Homestead Exemption

In the Charlotte Sun-Herald, Derek Dunn-Rankin, founder of the newspaper, wrote and interesting article, Forecasting home prices. A reprint of this interesting article can be found on our website. The article spoke about the changes in real estate pricing in this area but he also wrote about insurance and homestead exemptions. Homestead exemptions to resident's property taxes … [Read more...] about Transfer of Homestead Exemption

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