Last week, C.A.R.’s (California Association of Realtors) Board of Directors approved a motion to proceed on a parallel route for achieving its goals and ask the legislature to put the Property Tax Fairness Initiative on the ballot for March 2020. If that effort is successful, C.A.R. will not need to pursue the initiative for the November 2018 ballot.
Why Real Estate May Be A Big Winner In The Tax Cuts And Jobs Act
On the surface it may look like the Tax Cuts and Jobs Act is bad for real estate. The reduction in the deductibility of mortgage interest and the combined $10,000 cap on state and local tax (SALT) deductions for income, sales and property, along with the elimination of moving expense deductions would make a compelling argument. But after digging through the fine print, the outcome is that real estate may actually be the big winner.
TAKE CARE WHEN HIRING A CONTRACTOR
IRS RULING ON DEDUCTING INTEREST
Preventing Wildfires
Turning the Pages
I assume that most of you have received your refrigerator calendar in December. As I have been turning the pages on mine, I am reminded how many events have occurred during that short time. Obviously the most dramatic and devastating have been the Thomas fire (the largest ever in the State of California) and the subsequent, massive debris flow which not only swept away homes but took 24 lives.
There has been a pall both literally and figuratively over our community from the beginning of the fire to the present. Everyone was affected whether it was the catastrophic loss of lives or property, the difficulty of getting to work or lack of work. What I noticed was the bonding that was labeled 805strong. We care about each other, we support each other and the community will rebuild. Santa Barbara is still a special, wonderful place to live. And it will remain so.
PS - I have a few extra calendars if you would like another for yourself or a friend.