Tax

However, while the national average is not too far from its decade-low of 5.4%, the range found in different states varies considerably.

Wayne County, Michigan's use of Delinquent Tax Anticipation Notes is an extreme example of a nationwide phenomenon: Local officials use fines and foreclosures or tax lien sales as cudgels against people who haven’t paid their property taxes. Some municipalities’ efforts to securitize or sell the debts have led to a broad, upward transfer of wealth that’s rooted in fundamentally unfair tax systems.

The Build Back Better reconciliation bill would raise the SALT cap to $80,000 from $10,000, and that impact varies widely from state to state.

Property taxes — up the most in 15 years in 2020, according to recently released Labor Department data — will likely see even sharper jumps this year.

Infrastructure will command most of lawmakers’ attention, but expect banks to keep pushing for bills that would ease the transition away from a key benchmark rate and help them serve legal cannabis businesses.

The company has seen business ramp up as servicers have sought additional help managing escrowed funds following last year’s refi boom.

With residential supply severely lagging behind demand, redeveloping unused office space into multifamily properties seems like a perfect solution, but it’ll take governmental collaboration and tax breaks to make such projects financially compelling, developers say.

The plan "is part of a larger democratic attack on home ownership that includes an increase in the taxes on capital gains as well as an end to 1031 exchanges for the sale of property," writes the head of Whalen Global Advisors.

Raising the capital gains tax and code changes could have more of an impact on the public debt market than rising interest rates, according to a panelist at the Urban Land Institute's Spring event.

Unimproved parcels such as empty lots, parking spaces and even driveway lots that are not given a property address are often missed in tax line setups, particularly if the tax service is using technology that speeds up the process, writes the senior vice president of LERETA.