Measure ULA's unintended consequences on LA's real estate market

The sharp rise in property taxes over the past four years has reshaped the economics of homeownership. While inflation has strained budgets nationally, property tax bills have grown even faster, becoming a powerful but often under-examined driver of the housing affordability crisis. A simple comparison in El Paso County illustrates the issue. A typical home in Lorson Ranch (Fountain School District 3) pays $4,553.45 annually. A home in Broadmoor Valley (District 12), one of Colorado Springs’ premier neighborhoods, pays $4,694.82. Broadmoor has mature infrastructure and top schools; Fountain is still building. Yet the tax burdens are nearly identical. Growth costs are passed to homeowners with little relief in sight. This is not a federal issue. Property taxes are levied and collected locally by cities, counties, and school districts. Washington does not control this revenue stream. In Colorado Springs, the residential assessment rate is 6.25 percent for non-school taxes and 7.05 percent for schools. The total mill levy typically ranges between 70 and 80 mills. On a $600,000 home, that translates to roughly $250 to $330 per month. Property taxes fund 60 to 80 percent of local budgets, supporting schools, roads, public safety, and parks. If that monthly obligation disappeared, homeowners could unlock $50,000 to $60,000 in additional purchasing power. That can make the difference between being priced out and qualifying to buy. But here is the defining feature of property tax: even if a home is paid off, failing to pay it can lead to foreclosure and seizure by the government. That reality blurs the line between ownership and a form of leasehold from the state. Could the federal government eliminate property tax? Not directly. The power rests with state and local governments. But there are indirect levers: Congress could tie funding to reforms, a constitutional amendment could prohibit it outright, or Washington could offer revenue replacement to states. Each option would provoke debates over federalism and fiscal sovereignty. The fiscal implications would be profound. Property tax is the primary source of local revenue. Removing it would create a vacuum likely filled by less stable or transparent sources such as higher sales taxes, service fees, or special district levies. This is not a simple policy question. It cuts to the core of what it means to “own” property in America. Eliminating property taxes would provide immediate relief but would also require rethinking how cities fund themselves and how local control is structured. The real question is not whether we can eliminate property taxes. It is what we are willing to trade to do so...and what kind of ownership society we want in return.

Understanding Capital Gains Tax When Selling Your Primary Residence in El Paso, TX. Selling your home in El Paso can be a profitable venture, but it's crucial to understand the capital gains tax implications. A capital gain is the profit from the sale, calculated by subtracting your home’s cost basis (purchase price plus qualifying improvements) from its final selling price. Fortunately, the IRS offers a significant exclusion for homeowners. If you meet specific ownership and use criteria, you can exclude up to $250,000 of capital gains from your income if you file single, or $500,000 if married filing jointly. To qualify for this full exclusion, you must pass both of these tests: Ownership Test: You have owned the home for at least two of the last five years. Use Test: You have lived in the home as your primary residence for at least two of the last five years. These periods do not need to be consecutive. Example for an El Paso Home: Imagine a married couple bought a home in the Kern Place neighborhood for $300,000. After living in it for ten years, they sell it for $750,000. Their taxable gain is calculated as follows: Sale Price: $750,000 Cost Basis: $300,000 Total Gain: $450,000 Exclusion: $500,000 (for married filing jointly) Since their gain ($450,000) is less than their exclusion ($500,000), they owe $0 in federal capital gains tax. Texas does not have a state income tax, so you only need to consider federal tax. If your profit exceeds the exclusion limit, the excess is taxed at long-term capital gains rates, which are typically 0%, 15%, or 20%, depending on your total taxable income. Keep meticulous records of all home improvements (e.g., a new roof, kitchen renovation, addition), as these costs can increase your cost basis and reduce your taxable gain. Consulting with a local El Paso real estate attorney or tax professional is always recommended to navigate your specific situation, and visit www.epcasabyowner.com to find your dream home in El Paso, TX.

Florida is exploring what could become one of the most significant tax shifts in decades: potentially eliminating property taxes for homeowners. But with an estimated $43 billion in annual revenue at risk, the real issue isn’t just whether the tax can be eliminated—it’s how to replace it. As discussions advance toward a possible 2026 constitutional ballot amendment, several replacement models are being considered: 1. Expanded Sales Tax Raising the current 6% rate or broadening taxable goods/services would be the most direct alternative. It maintains Florida’s no-income-tax identity but is regressive and could require a steep increase. 2. State-Level Income Tax (Currently Prohibited) Would create a more progressive, stable revenue stream—but requires a constitutional change and faces overwhelming political resistance. 3. Increased Fees and Service Charges Charging more for public services directly links cost to usage, but this approach is often seen as “nickel-and-diming” and wouldn’t generate enough to fill a $43B gap. 4. Real Estate Transfer Tax Taxing property sales, particularly luxury transactions, could be lucrative in strong markets—but is highly cyclical and could slow real estate activity in downturns. 5. Tourism and Hospitality Taxes Increasing taxes on hotels, rentals, and visitor services leverages Florida’s tourism economy. Politically popular, but seasonal and insufficient on its own. The takeaway: Eliminating property taxes may be appealing for homeowners, but replacing $43B requires difficult trade-offs. Lawmakers will need to balance affordability, economic competitiveness, and the funding of schools, infrastructure, and essential services. If this reaches the 2026 ballot, the question becomes: Which funding model will Florida voters accept—and what compromises are they prepared to make?

𝐓𝐡𝐞 𝐂𝐨𝐧𝐬𝐞𝐫𝐯𝐚𝐭𝐢𝐯𝐞𝐬’ 𝐏𝐥𝐚𝐧 𝐭𝐨 𝐒𝐜𝐫𝐚𝐩 𝐒𝐭𝐚𝐦𝐩 𝐃𝐮𝐭𝐲 – 𝐖𝐡𝐚𝐭 𝐈𝐭 𝐌𝐞𝐚𝐧𝐬 𝐟𝐨𝐫 𝐁𝐫𝐢𝐠𝐡𝐭𝐨𝐧 & 𝐇𝐨𝐯𝐞 The Conservatives have pledged to abolish Stamp Duty Land Tax (SDLT) on people’s main homes if they return to government. It’s a bold promise that could save buyers thousands — but what does it really mean for you and the Brighton & Hove property market? 𝐖𝐡𝐚𝐭’𝐬 𝐒𝐭𝐚𝐦𝐩 𝐃𝐮𝐭𝐲 𝐀𝐠𝐚𝐢𝐧? Stamp Duty is a tax you have to pay when you buy a property in England. The amount you pay depends on the price of the property: For home movers (not first-time buyers): If you buy a home for £200,000, you pay £1,500 in stamp duty. If you buy for £300,000, you pay £5,000. If you buy for £400,000, you pay £10,000. For first-time buyers: There’s a special discount called “first-time buyer relief.” If the property costs up to £300,000, you pay no stamp duty. If it’s over £300,000, you pay 5% on the amount above £300,000. For example, if you buy for £400,000, you pay 5% of £100,000 (which is £5,000). 𝐖𝐡𝐲 𝐝𝐨𝐞𝐬 𝐭𝐡𝐢𝐬 𝐦𝐚𝐭𝐭𝐞𝐫? Stamp duty is a significant extra cost for buyers in Brighton & Hove, on top of your deposit and other fees. It can make buying a home more expensive and is something you need to budget for when planning a purchase. 𝐖𝐡𝐚𝐭 𝐭𝐡𝐞 𝐂𝐨𝐧𝐬𝐞𝐫𝐯𝐚𝐭𝐢𝐯𝐞𝐬 𝐀𝐫𝐞 𝐏𝐫𝐨𝐩𝐨𝐬𝐢𝐧𝐠 Their plan would: Scrap Stamp Duty completely for anyone buying their main home. Keep it for second homes and investment properties. Save typical buyers in Brighton & Hove thousands of pounds, since local property prices often fall well above the national average. 𝐖𝐡𝐲 𝐈𝐭 𝐒𝐨𝐮𝐧𝐝𝐬 𝐀𝐩𝐩𝐞𝐚𝐥𝐢𝐧𝐠 Makes moving easier – People might be more willing to move without worrying about a hefty tax bill. Helps first-time buyers – Less tax means lower upfront costs and potentially smaller deposits. Encourages activity – The housing market could see more movement and more available homes. 𝐁𝐮𝐭 𝐓𝐡𝐞𝐫𝐞 𝐀𝐫𝐞 𝐒𝐨𝐦𝐞 𝐂𝐚𝐭𝐜𝐡𝐞𝐬 It’s still a pledge, not policy – The plan would depend on election results and the government’s finances. House prices could rise – If buyers save thousands on tax, sellers may simply raise asking prices. Big cost to the Treasury – Stamp Duty brings in billions each year, so scrapping it entirely may be difficult to sustain long-term. 𝐖𝐡𝐚𝐭 𝐓𝐡𝐢𝐬 𝐌𝐞𝐚𝐧𝐬 𝐟𝐨𝐫 𝐁𝐫𝐢𝐠𝐡𝐭𝐨𝐧 & 𝐇𝐨𝐯𝐞 In high-value areas like Brighton & Hove, this change could save buyers tens of thousands of pounds and encourage more local moves. But with strong demand and limited housing stock, it might also push prices up further — something to keep in mind if you’re planning a purchase soon. 𝐅𝐢𝐧𝐚𝐥 𝐓𝐡𝐨𝐮𝐠𝐡𝐭𝐬 Whether or not it happens, this pledge has already got people talking. If Stamp Duty is scrapped, Brighton & Hove buyers could see big savings and a livelier market — but we’ll have to wait and see if the promise becomes reality.

What would happen if Florida abolished property taxes? Florida has a high senior population, with about 22.9% of its residents aged 65 and older, compared to the national average of 17%. Nearly 63% of homeowners aged 65 and older own their homes mortgage-free. Retirees oppose paying property taxes and expect insurance and HOA fees to increase. Initially, sales tax was suggested as an alternative, but it could reduce consumer spending. A more gradual approach, proposed by State Representative Alex Miller, would phase out non-school property taxes on homesteaded properties over ten years, starting in 2027. Another proposal, introduced by State Representative Alex Miller, targets senior citizens by eliminating non-school property taxes on homesteaded properties owned by residents 65 and older. Home prices in Hillsborough County have increased 79% in Just Value from 2019~2025. Why may taxes go up? 1. Home Market Value is increasing 2. Higher millage rates approved by local boards 3. Changes in or loss of exemptions 4. Voter-approved bond issues or taxes 5. Recapture in Save Our Homes Cap People are tired of paying property tax; however, we need to know where to fund the schools and county facilities. By increasing sales tax, will that drive down the traffic of tourism? We'll see what this is going to come out.

Property taxes are a significant, ongoing cost of homeownership in Montezuma County. While they fund essential local services like schools, roads, and emergency services, they directly affect your monthly housing expenses. Overall Affordability: Property taxes, along with mortgage payments, insurance, and HOA fees, contribute to your total housing burden. Understanding your potential tax liability is crucial when budgeting for a home purchase. Variable Costs: Unlike a fixed mortgage rate, your property tax bill can change annually due to reassessments of your property's value and adjustments to mill levies by local taxing entities. Montezuma County's median effective property tax rate is generally lower than the national median, which can be an advantage for homeowners here. Exemptions: Colorado offers certain property tax exemptions, such as the Senior Citizen Exemption or the Disabled Veteran Exemption, which can significantly reduce a homeowner's tax burden. It's important to explore if you qualify for these. Where to Find Relevant Information Staying informed about your property taxes is essential. Here are key resources for Montezuma County homeowners: Montezuma County Assessor's Office: This is your primary resource for information on your property's actual value, assessed value, and classification. Website: Visit the Montezuma County website and navigate to the "Assessor's Office" section. Notices of Valuation: Property owners receive these by mail around May 1st each year. Review it carefully. Property Records Inquiry System: You can often search property records online via the Assessor's Office website to view your property's valuation details. Contact: Leslie Bugg, Assessor, at 140 West Main Street, Suite 3, Cortez, CO 81321, or call (970) 565-3428. Montezuma County Treasurer / Public Trustee: This office handles the collection of property taxes and can provide information on tax due dates, payment options, and delinquent taxes. Website: Look for the "Treasurer / Public Trustee" section on the Montezuma County website. You can often review and pay taxes online. Payment Information: Taxes are due January 1st for the previous year and can be paid in two installments (due end of February and June 15th) or one full payment (due April 30th). Contact: (970) 565-7550. Montezuma County Budget Information: For details on how tax rates are set by various taxing authorities, you can often find adopted budget resolutions on the Montezuma County website. CO Dept of Revenue: Provides general information on property taxation in Colorado. The Four Corners Board of Realtors encourages all homeowners to be proactive in understanding their property tax obligations. If you have questions about how property taxes might affect your real estate decisions, don't hesitate to reach out to a local Montezuma County Realtor. We are here to help you navigate the complexities of homeownership in our beautiful region. 

🏠💡 Big Tax News for Homeowners: The SALT Deduction Just Got a Makeover Heads-up, homeowners and future buyers—there’s a change you’ll want to know about! The federal deduction for state and local taxes (that’s the SALT deduction) got boosted this year, and it could impact how you look at your home costs. ✅ What’s Changing & Why It Matters Here are the key takeaways: The SALT deduction cap has been raised from $10,000 to $40,000 for many taxpayers starting in 2025. But hold on—there are a few catches: You must itemize your deductions instead of taking the standard deduction. If your household income (Modified Adjusted Gross Income, or MAGI) is over $500,000, the benefit starts phasing out. If you’re over $600,000, the cap drops back down to $10,000. The new $40,000 cap is set for 2025 through 2029, unless changed. Then in 2030 it reverts back. It’s especially useful for homeowners in high-tax or high-property-tax states, or those who own multiple properties (like vacation homes) — but the benefit in NC & SC may be smaller depending on local property tax levels. 👀 How You Should Think About It If You’re in the Carolinas If you pay significant state/local property taxes and itemize deductions, this could mean extra savings on your federal return. But if your income is high (over $500K+), or you don’t have enough deduction items to make itemizing better than the standard deduction, you may not benefit much. For buyers: This may slightly improve affordability or your tax planning—but don’t assume it alone will tip your decision. For sellers: Think of this as added talking point value when you show buyers your home’s carrying cost advantages (if any). Bottom line: Smart tax planning = part of smart home-ownership. #SALTdeduction #HomeownersTaxBreak #PropertyTaxSavings #HomeBuyingTips #CarolinasRealEstate #NCRealEstate #SCRealEstate #TaxSmartHomeowners #RealEstateTaxPlan #ItemizeOrStandardDeduction https://lnkd.in/ehb7-dDn

🏠 Homeownership & Property Taxes — What’s the Real Cost? An insightful opinion piece in the Chicago Tribune explores how property taxes are shaping residential decisions and the long-term financial picture for homeowners. 📌 Key things to consider: - Rising property tax pressures in urban areas - How this impacts affordability and equity in homeownership - What it means for your tax planning strategy At Lael Tax Plans, we believe tax strategy should include real-estate and personal asset considerations — not just business deductions. 🔗 Want to dive deeper? https://lnkd.in/gGJaeNgX #PropertyTax #Homeownership #TaxStrategy #FinancialPlanning #LaelTaxPlans #ChristinaLael #WealthManagement #RealEstateTaxes

Allentown Borough is re-entering Monmouth County's Assessment Demonstration Program for property assessments effective 2026. Here's what's happening. Starting in 2026, Allentown Borough will gradually reassess all properties to reflect current market values. The last full revaluation was in 2011, and most property values haven't changed unless there was an appeal or construction. Right now, properties are assessed at about 61.46% of their market value, according to the Director’s Ratio. What This Means for You: Over the next few years, property assessments will increase to align more closely with fair market values. Higher assessments don’t automatically mean higher taxes. Tax rates are usually adjusted downward to keep things balanced. Your 2026 tax bill will depend on the budgets set by the Borough, Board of Education, and County. Property Inspections: Realty Data Systems (RDS) will conduct interior and exterior inspections of all properties. Inspections will happen over 3 years, covering one-third of the Borough each year. After that, 20% of properties will be re-inspected annually on a rolling basis. You’ll get advance notice by mail if your property is selected for inspection. Why It Matters: This reassessment aims to improve fairness and equity in the tax system. It ensures all property owners are paying their fair share based on current property values.

Taxes & Truth — How Owning Real Estate Pays You Back Let’s be honest: taxes aren’t fun. Nobody circles April 15 on their calendar with excitement. But here’s the silver lining: owning real estate makes tax season a little less painful. Deductions That Matter Mortgage interest – If you’re paying it, chances are you can deduct it. On big loans, that adds up fast. Property taxes – Yes, those bills hurt when they land in your mailbox. But many homeowners can write them off. Capital gains exclusion – If you sell your primary home, you may be able to pocket up to $250,000 in profit tax-free ($500,000 for married couples). That’s a massive advantage compared to other investments. Landlords Have Even More Perks If you own rental property, depreciation is your best friend. You can deduct the “wear and tear” on a property’s value over time — even while it’s actually appreciating. That’s the kind of tax magic that stock investors only dream about. And don’t forget expenses. Repairs, management fees, insurance — many of the costs of running a rental can be deducted. When done right, your rental property not only produces income but can also lower your tax bill. Equity + Tax Benefits = Wealth. The power of real estate isn’t just the roof over your head. It’s the way the system rewards you for owning. You build equity while Uncle Sam chips in through tax benefits. Over decades, that combination adds up to a serious wealth-building engine. Why This Matters Now Most people scramble in April to pull receipts and hope they didn’t miss something. The smarter move is to plan ahead. Sit down with your accountant this fall and make sure your real estate works for you all year long. Bottom Line Renting means you get a place to live. Owning means you get a place to live, growing equity, and powerful tax advantages. One of those choices builds your net worth. The other builds your landlord’s. When tax time rolls around, remember: your home isn’t just where you live. It’s part of your financial plan.