New Mexico’s Governor, and ex-Presidential candidate Bill Richardson, told the Associated Press in a story published in the Albuquerque Tribune that New Mexico lawmakers will have to wait a year before tinkering with the state’s uniform title insurance rate regulations.Gov. Bill Richardson saying the issue is too complex for legislators to tackle in their lone 30-day […]

Check your mailbox. The notices are on their way and there’s a New Year’s gift waiting for you, courtesey of the State of Maryland.
It’s your latest Maryland property assessment. Brace yourself. It’s absolutely not going to reflect the slowdown in the real estate market.
The average tax is rising 33 percent over three years ago. Ouch! It’s an […]

In the 2007 Special Session, the Maryland General Assembly enacted the Tax Reform Act of 2007 which resulted in changes in the income tax law that provides for withholding requirements on the sale or transfer of real property by a nonresident individual or a nonresident entity. The changes go into effect January 1, 2008.
Sale or […]

According to an article in the New York Times, the amount of tax evasion committed by real estate partners is huge, amounting to billions of dollars of potential tax revenues lost every year.
Jerry Curnutt, a former specialist in partnerships for the Internal Revenue Service made the claim even though the means for detecting such evasion […]

The Daily Record reports that Baltimore property owners whose properties are sold for taxes may soon be paying less in fees in order to redeem them.
Baltimore Judge Evelyn Omega Cannon set $1,300 or $1,500 as a reasonable amount for attorneys’ fees in a normal tax-sale case following consideration of 14 of approximately 4000 cases filed […]

Accordding to local Maryland real esate and tax experts – in a recent piece published in the Maryland Daily Record – there may be higher taxes in store for real estate parnterhips in the near future. 
On Nov. 9, the U.S. House of Representatives passed a bill that will increase taxes on the gains reaped by real estate developers […]

The Baltimore Sun reported that the more than 700,000 Maryland property owners who will receive property tax bills this month should know about a little-known change in the state’s tax laws that makes signing up necessary to getting a break on those taxes.
The new law, which took effect on October 1, was designed to keep […]

The Capital reported that a new bill introduced to the Annapolis City Council by Mayor Ellen O. Moyer aims to ensure that, for all new construction and major renovations of buildings with more than 10,000 square feet, builders adhere to design standards set by the Leadership in Energy and Environmental Design (LEED) system.
Passage […]

We presented a detailed explanation of the new Maryland Transfer Tax in our post from November 26th.
The Daily Record and noted attorney Robert M. Ercole, Esquire, report that the Maryland General Assembly has voted in a new transfer and recordation tax that will affect landowners statewide.
The new law-which is intended to plug a “corporate loophole”-applies […]