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Property Tax

New Jersey proposal could reduce senior property tax relief

Affordability, Aging in Place, Gen X, Mortgage, New Jersey, Property Tax, Reverse, Reverse Mortgage Daily /

New Jersey homeowners could see smaller property tax relief benefits under a budget proposal unveiled Tuesday by Gov. Mikie Sherrill, as the state confronts fiscal pressures and persistently high costs of living. In her first budget address since taking office, Sherrill proposed tightening eligibility and lowering the maximum payout for the state’s Stay NJ program […]

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Manhattan luxury market stable 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

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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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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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Ohio lawmakers push for senior foreclosure protection

Foreclosure, Legislation, Ohio, Property Tax, Reverse, Reverse Mortgage Daily /

Two Ohio state representatives are supporting legislation they say will establish clear statewide protections against property tax‑related foreclosures for the state’s senior homeowners. Reps. David Thomas (R) and Adam Mathews (R) highlighted H.B. 443, known as the Senior Protection from Foreclosure Act, during a news conference Wednesday. The bill would bar counties from enforcing property

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Tennessee official floats full property tax reimbursement for seniors

Foreclosure, HWmember, Legislation, Property Tax, Reverse, Reverse Mortgage Daily, Tennessee /

A proposal aimed at providing full property tax reimbursements for senior citizens in Tennessee — with the state’s substantial budget surplus cited as justification for the plan — was recently unveiled by a local official.   Rob Mitchell, the property assessor for Rutherford County, said the Tennessee Golden Homeowners Tax Relief Program would cover 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,”

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Ohio moves to tie property tax increases to inflation

Affordability, Homeownership, Housing Market, HWmember, Legislation, Ohio, Politics, Property Tax /

The Ohio House of Representatives on Wednesday passed two bills aimed at limiting future property tax increases by tying them to inflation — marking the latest in a series of efforts to curb rising property taxes across the state. Republican House Speaker Matt Huffman said the legislation represents “something significant” for Ohio taxpayers. He estimates

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Homebuyers sue D.R. Horton for alleged deceptive lending

D. R. Horton, Florida, Homebuilders, HWmember, Lawsuit, Legal, Mortgage, Property Tax, Real Estate /

A group of homebuyers has filed a class action lawsuit against D.R. Horton, the nation’s largest homebuilding company, and its mortgage lending subsidiary, DHI Mortgage Co., alleging that the companies engaged in deceptive home-selling and mortgage practices that left buyers with unexpectedly high monthly payments. The lawsuit — filed Oct. 1 in the U.S. District

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