Charlottesville's Real Estate Blog. Buyer &/or Seller Representation, Real Estate News
Last December Biscuit Run sold for $9.8 million , but no one knew the value of the tax credits.
… Still, with $20 million at stake, the fight is not over, and the results might not be made public. … An appeal goes to the state tax commissioner, Craig Burns, and the results of such appeals are not public. If that appeal is denied, Forest Lodge LLC could appeal the ruling to circuit court.
It’s not often that I write here about something completely unrelated to real estate, but the following story form yesterday’s Washington Post was brilliant in both its recommendations and simplicity to reform our country.
…There is one common technique that has been used in successful legal overhauls, from Justinian’s recodification in ancient times to the Napoleonic code that is the basis of modern European civil law to the uniform commercial code adopted in the United States in the 1950s.
…But neither party, we now know after the lengthy debate on health-care reform, will take the political risk of challenging these wasteful practices.
Bringing this back to the political environment of the Central Virginia region, think about this statement in context of Charlottesville’s and Albemarle’s inability to build a road or address our water supply. (bolding mine)
Albemarle rejects meeting with DEQ and says it won’t compromise on water plan It’s such a shame that stagnation is continually chosen by both localities.
My argument against the Mortgage Interest Deduction being negated is less about its fundamental nature to the stability of the housing market and more to the point that politicians wield power that we should not permit them to have.
… Proposed : 12% non-refundable tax credit available to all taxpayers; Mortgage capped at Mortgage Interest $500,000; No credit for interest from second residence and equity But for now, I’ll be contacting my politicians* who ostensibly “represent” me and telling them that my opinion is that they: 1) Leave the Mortgage Interest Deduction alone.
…In a nutshell, homes are more affordable because the majority of homes are used and are not taxed, the interest paid on new homes at a lower rate is untaxed, new home prices do not bear taxes imposed upstream, and the saving and investment needed to buy homes is not taxed multiple times.
…Educate yourself : – The Opening Salvo of the Housing War: Mortgage Interest Deduction – Realtors® Say Mortgage Interest Deduction Vital to Home Ownership, Economy – FairTax and Housing * But not Tom Perriello; he is no longer accepting email .
The Northtown Trail is a smart, functional, bold and audacious plan that would likely help shape non-auto-dependent growth, reduce congestion on 29 and maybe help folks using it get more fit .
…The Northtown Trail is tied to several significant roadway projects in the area, including the Route 250 Interchange at McIntire Road , McIntire Road Extended , the Meadow Creek Parkway and Berkmar Drive Extended . The portions of the trail in Albemarle County correspond directly to planned facilities for the Places29 Master Plan, which aims to improve congestion and land use issues along the US 29 north corridor in Albemarle County. … The City’s portion of the conceptual trail corresponds to planned bike and pedestrian facilities along the future McIntire Road Extended and the Route 250 interchange at McIntire Road.
There has to be a way … shame the success is in the hands of politicians. Beginning service Oct. 1, 2009, in its first year the train brought in close to $6.4 million in revenues, far exceeding the $2.58 million that officials expected it to garner. Courtney Ware, a spokeswoman for the Virginia Department of Rail and Public Transportation, said Amtrak estimated that the train’s annual operating costs would be roughly $5.48 million. “The train is making a profit,†Richards said.
Councilors voted 3-2 — with Mayor Dave Norris and Councilor Holly Edwards opposed — to allowActing City Manager Maurice Jones to endorse the project’s draft memorandum of agreement, which lists the measures the city will take to lessen the negative consequences of building the two-lane road through one of Charlottesville’s largest parks. The proposed measures outlined in the memorandum are to establish two rain gardens that exclusively use native plants; have a landscape plan to integrate the city’s portion of the parkway into the setting’s existing natural features and minimize its influence on McIntire Park; install signage prohibiting truck traffic and posting a speed limit of 35 mph; complete photographic documentation of the eastern side of the park; and complete historical documentation of the McIntire Golf Course.
…I still wonder – if we were designing a transportation solution today rather than trying to implement a 40-year-plus plan , would we create the Meadowcreek Parkway?
… The relationship between the City of Charlottesville and the County of Albemarle is akin to that of divorced parents who really kind of hate each other but are able to keep it together justenough to keep the kids fed.