RealEstateRama Laws & Taxes
A.G. Schneiderman Announces Arrest Of Long Island Man For Attempted Residential Mortgage Fraud In...
Attorney General Eric T. Schneiderman today announced the arrest of Fedlaire Aristide, 47, of Freeport, N.Y., for allegedly attempting to defraud Wells Fargo in a short sale scam that would have cost the bank hundreds of thousands of dollars.
Significant disparities in support for the MTA: City contributed 68 percent of MTA’s operating budget in FY14 while the State paid for just 4 percent. City also contributes nearly $300 million annually over the last decade in capital funding to the MTA
U.S. Senator Charles E. Schumer today urged the U.S. Department of Agriculture (USDA) to meet with locals in the Village of Avon in Livingston County to help find ways to make repairs and upgrades to its storm water infrastructure possible in order to prevent future flood damage. Schumer explained that in July 2014 and May 2015, the small village and its residents and businesses experienced severe damage due storm-induced flooding
A.G. Schneiderman Announces Prison Sentence For Attorney Who Ran Million-Dollar Mortgage Fraud Scheme
Attorney General Eric T. Schneiderman today announced the sentencing of licensed attorney Theresa Sanders, 56, of Fabius, New York, to 2 1/3 to 7 years in state prison. Sanders pleaded guilty earlier this year for her role in a million-dollar mortgage fraud ring that operated in the Syracuse area for years, preying upon both first-time home buyers and institutional lenders.
The New York State Department of Taxation and Finance today reminded all property owners - including homeowners and businesses - to check their assessments for accuracy. The deadline to contest your property assessment, also known as "Grievance Day," is May 26th in most communities
The New York State Senate today acted on one of its top end-of-session priorities by passing legislation to make the property tax cap permanent. The bill (S5597), sponsored by Senate Majority Leader John Flanagan (R-C-I, East Northport), would prevent the planned expiration of the tax cap to continue saving taxpayers billions of dollars each year, increase investments by businesses, and create more jobs
New York City-based nonprofit organization The Doe Fund were joined by the New York City Department of Housing Preservation and Development (HPD) and development partners today to announce plans for a new 60-unit development located at 1420 Crotona Park East in The Bronx. The soon-to-be constructed eight-story development will include a total of 60 supportive, affordable housing units of which, 36 apartments will be reserved for clients of the city’s HIV/AIDS Services Administration (HASA).
The bill (S5597), sponsored by Senate Majority Leader John Flanagan (R-C-I, East Northport), would prevent the planned expiration of the tax cap to continue saving taxpayers billions of dollars each year, increase investments by businesses, and create more jobs.
The Main Street Revival Act allows qualifying small businesses to elect to defer paying payroll taxes during their first year in operation. The deferred taxes would then be paid in installments over the subsequent four years.
New York City is alone in imposing a local commercial rent tax – a 6% tax on rents for Manhattan office and retail space that are already the most expensive and heavily taxed properties in the country. The city lost more than 100,000 middle wage jobs between 2008 and 2013, and the high cost of office space is a primary reason. If the City Council wants to help save those jobs, it should eliminate the commercial rent tax for all employers. Job-saving tax relief cannot be for just ‘small’ businesses.
A.G. Schneiderman Announces Court Judgment Against Brooklyn & Florida Law Firms For Running Fraudulent...
Attorney General Eric T. Schneiderman today obtained a default judgment in New York County Supreme Court against two law firms and their lead attorney for participating in a fraudulent mortgage rescue scheme. The judgment ordered Litvin Law Firm; Litvin, Torrens & Associates, PLLC; and the firms’ principal attorney Gennady Litvin to immediately halt their illegal business practices, including preying upon financially vulnerable consumers by claiming to provide a comprehensive legal services plan that would allow consumers to avoid foreclosure
State Senator Tony Avella announced today that his bill that would allow homeowners to apply for a “green buildings tax credit” unanimously passed the Senate.
Tom Reed applauds tonight’s House passage of the Regulatory Integrity Protection Act, H.R. 1732, which protects landowners from intrusive government and ensures the protection of personal property.
Mayor Bill de Blasio today proposed a sweeping overhaul of a tax program to spur a new wave of affordable housing in New York City and stem the housing crisis that is making it so difficult for New Yorkers to make ends meet.
Empire State Development Announces Request for Proposals for Purchase and Redevelopment of Mount McGregor...
Empire State Development (ESD) today announced it will issue a Request for Proposals (RFP) for the purchase and redevelopment of approximately 325 acres of the former Mount McGregor Correctional Facility located in Wilton, New York. Mount McGregor closed in July 2014 as part of Governor Andrew M. Cuomo’s initiative to save New York taxpayers hundreds of millions of dollars by consolidating the state’s correctional facilities based on a declining inmate population
As part of his continued efforts to help residents reduce their tax burden, County Executive Edward P. Mangano has arranged to bring the Department of Assessment office operations to libraries and community meeting halls throughout Nassau to assist homeowners with filing for their property tax exemptions
The New York State Supreme Court Appellate Division heard oral arguments on Thursday in the Mechanical Contractors V. NYCDOB, Case No. 13-10093, regarding controversy over whether the NYC Department of Buildings (DOB) has the legal authority to ignore Building Code requirements when buildings are constructed modularly. This includes the largest Lego-style modular construction project in North America located at Brooklyn’s Atlantic Yards (now rebranded as Pacific Park), a 32-story, 363 unit residential building.
City legislation provides long-term financial relief for property owners who experienced significant increases in property taxes, part of de Blasio Administration’s Sandy recovery overhaul
Reps. Garrett, Maloney Introduce the Restoring Main Street Investor Protection and Confidence Act of...
H.R. 1982 would reaffirm and clarify key protections for ordinary investors that were put in place when Congress passed and amended the Securities Investor Protection Act (SIPA). In particular, the bill aims to properly shield innocent individual investors who have already been defrauded and financially devastated
NATIONWIDE RASH OF ‘SWATTING’ ATTACKS NOW THREATENING LOCAL ROCHESTER RESIDENTS, COSTING LAW ENFORCEMENT THOUSANDS...
Near the site of a recent “swatting” attack on Park Avenue in Rochester, U.S. Senator Charles E. Schumer today announced legislation to crack down on an alarming new nationwide crime trend called “swatting” that has recently emerged as a problem in Rochester. Schumer explained that “swatting” is an incident in which a fake phone call is made in an effort to have police SWAT teams respond to an unsuspecting resident’s home. Schumer said these false alerts are not only terrifying residents, but they are also costing law enforcement departments thousands of dollars and putting at risk both first responders and innocent bystanders.
Congressman Charles B. Rangel, who represents the 13th Congressional District of New York that includes Upper Manhattan and parts of the Bronx, spoke on the House floor in opposition to H.R. 1105, which would repeal the Estate Tax. Below is the transcript of his remarks
Currently, if an individual’s assets exceed the specified federal exemption amount at his or her death, these assets are taxed at a rate of 40% before they can be passed on to surviving family members. For Central New Yorkers, these “assets” are often a small business or family farm – and a death tax bill only makes a family’s loss even more devastating.
Yonkers Property Owners to Receive Tax Rebates from New York State as City Stays Within 2% Tax Cap for Fourth Consecutive Year YONKERS, NY -...
A.G. Schneiderman Announces Settlement With Tribeca Developer Over Unregistered Real Estate Securities
Developer Peter Moore Disregarded Martin Act Requirements While Blatantly Marketing Investments In TriBeCa Loft Building Settlement Bars Moore From the Real Estate Securities Industry For Six Months. Schneiderman: Promoters Of Real Estate Investments Need To Follow The Rules And If They Don’t, They Will Be Held Accountable.
Today, close to our nation’s annual tax day, New York Representatives Jerrold Nadler, Nita Lowey and Steve Israel announced the re-introduction of the Tax Equity Act, a forward-thinking piece of tax legislation designed to adjust federal tax brackets to reflect the actual cost of living in major metropolitan areas.