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Homeowners Taxes

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NEWS
May 19, 1995 | GEOFF BOUCHER and JONATHAN PETERSON, SPECIAL TO THE TIMES
In what could be a life raft for property owners forced to sell their homes at punishing losses, federal lawmakers are considering a bill that would grant a major new tax deduction to Americans caught in that bind. The proposed tax break would provide a financial cushion for homeowners by allowing them to deduct losses from home sales on their income taxes. The tax breaks would be particularly welcome in Southern California, where residential property values have been falling since 1991.
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BUSINESS
May 29, 2011 | By Kenneth R. Harney
Can the Internal Revenue Service handle tax credit programs that pump out billions of dollars to homeowners and buyers? A new federal investigation on home energy tax credits suggests the answer may be: Not quite yet. The Treasury Department's inspector general for tax administration audited the residential tax credit program, created by Congress to encourage homeowners to install energy-saving equipment and materials in their houses, and found...
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NEWS
May 19, 1995 | GEOFF BOUCHER and JONATHAN PETERSON, SPECIAL TO THE TIMES
In what could be a life raft for property owners forced to sell their homes at punishing losses, federal lawmakers are considering a bill that would grant a major new tax deduction to Americans caught in that bind. The proposed tax break would provide a financial cushion for homeowners by allowing them to deduct losses from home sales on their income taxes. The tax breaks would be particularly welcome in Southern California, where residential property values have been falling since 1991.
OPINION
November 3, 2005 | Robert B. Reich, ROBERT B. REICH, a professor at Brandeis University, is the author most recently of "Reason" (2004, Alfred A. Knopf). He was secretary of Labor in the Clinton administration.
IN THESE DARK DAYS for the Bush administration, I've been looking for some light, something on which to lavish unequivocal praise. And here it is. The president's advisory commission on tax reform on Monday recommended a limit on the home mortgage interest deduction. But isn't the home mortgage interest deduction almost a fundamental right? Doesn't it help most Americans pay for their homes? Isn't it, in other words, sacred? No, no and no.
OPINION
October 30, 2005 | Maya MacGuineas, Maya MacGuineas is the director of the Fiscal Policy Program at the New America Foundation.
PRESIDENT BUSH'S tax reform panel has ventured into political no man's land. It wants to limit the tax deductions for home mortgages, employer-provided health insurance and state and local taxes. Individuals and businesses love these tax breaks. Democrats and Republicans embrace them for their own ideological reasons. The constituencies backing them are powerful. But these sacred cows are in desperate need of reform.
BUSINESS
May 29, 2011 | By Kenneth R. Harney
Can the Internal Revenue Service handle tax credit programs that pump out billions of dollars to homeowners and buyers? A new federal investigation on home energy tax credits suggests the answer may be: Not quite yet. The Treasury Department's inspector general for tax administration audited the residential tax credit program, created by Congress to encourage homeowners to install energy-saving equipment and materials in their houses, and found...
CALIFORNIA | LOCAL
January 6, 1999 | ROBERT OURLIAN, TIMES STAFF WRITER
San Juan Capistrano officials postponed a public hearing Tuesday on a plan that would bill new-home owners for hillside stabilization if their houses are damaged by landslides. The City Council is debating whether to create a so-called Geologic Hazard Abatement District at the 350-home Pacific Point subdivision in the southern part of the city. Council members voted to delay action until geological reports are completed on the hilly site.
NEWS
August 27, 1989 | KENNETH J. GARCIA, Times Staff Writer
A curious thing happened recently on Big Rock Mesa in Malibu. Home values on the steep hillside, devastated by a massive landslide six years ago, jumped dramatically. And that made the residents angry. Under normal circumstances, which are rare on Big Rock, the residents would have been happy to see their homes reappraised by the county.
CALIFORNIA | LOCAL
July 15, 1991 | CHRISTOPHER PUMMER
A group of beach-area homeowners in Port Hueneme is mounting a last-ditch challenge to what opponents call the city's "sneak-a-tax"--a proposed property assessment based on their ocean view and access to the sand. "If a government can . . . tax something God created, the ocean and the sky, it won't be long before they tax people's view of the purple mountains' majesty and fruited plains," Leah Bahr, spokeswoman for the Anacapa View Condominium Homeowners Assn.
CALIFORNIA | LOCAL
August 22, 1990 | LEN HALL
Twelve years after it was dedicated as a park site by the County Board of Supervisors, Dana Woods Park, home to several California redwoods, will officially become public property Sept. 1. The board of directors of the Capistrano Bay Park and Recreation District voted unanimously last week to accept the four-acre park into its jurisdiction, finally taking it out of the legal limbo where it has languished.
OPINION
October 30, 2005 | Maya MacGuineas, Maya MacGuineas is the director of the Fiscal Policy Program at the New America Foundation.
PRESIDENT BUSH'S tax reform panel has ventured into political no man's land. It wants to limit the tax deductions for home mortgages, employer-provided health insurance and state and local taxes. Individuals and businesses love these tax breaks. Democrats and Republicans embrace them for their own ideological reasons. The constituencies backing them are powerful. But these sacred cows are in desperate need of reform.
CALIFORNIA | LOCAL
January 6, 1999 | ROBERT OURLIAN, TIMES STAFF WRITER
San Juan Capistrano officials postponed a public hearing Tuesday on a plan that would bill new-home owners for hillside stabilization if their houses are damaged by landslides. The City Council is debating whether to create a so-called Geologic Hazard Abatement District at the 350-home Pacific Point subdivision in the southern part of the city. Council members voted to delay action until geological reports are completed on the hilly site.
CALIFORNIA | LOCAL
September 3, 1996
The Republican and Democratic presidential campaigns can tiff over who first thought of eliminating capital gains taxes on most home sales, but what's important about this proposal isn't its authorship but its likely results. From every perspective the idea looks to be sound and beneficial, good for homeowners and prospective homeowners and good for the economy.
NEWS
August 31, 1996 | KENNETH REICH and CARL INGRAM, TIMES STAFF WRITERS
The state Legislature on Friday approved a bill creating a $10.5-billion state earthquake insurance authority, pointing the way toward an end to a widespread sales freeze on new homeowners insurance. As part of the annual rush to approve hundreds of bills before lawmakers leave the Capitol for the year, the Legislature also was expected to approve a $279-million tax cut aimed chiefly at business and industry.
CALIFORNIA | LOCAL
July 8, 1996 | JULIE TAMAKI, TIMES STAFF WRITER
Chastened by hostile public reaction to its tax proposal, the Los Angeles Community College District board will meet Tuesday to begin whittling down a $390-million wish list that the district will present to voters for approval this fall. Projects that probably will be deleted from the proposed spending plan include a $6.
CALIFORNIA | LOCAL
May 2, 1996 | ERIC WAHLGREN, SPECIAL TO THE TIMES
Moving swiftly on his proposal to restructure the area's library system, county Supervisor Frank Schillo will ask the Board of Supervisors on Tuesday to consider placing a special countywide homeowners' tax on the November ballot to prop up cash-starved branches. Along with the tax proposal, Schillo is seeking the board's blessing for his plan to essentially transfer control of county-operated libraries to the cities where the branches are located.
REAL ESTATE
January 27, 1991 | BENNY L. KASS, Kass is a Washington lawyer and newspaper columnist specializing in real estate and tax matters
Home ownership has been the American dream. Over the years, Congress has enacted tax laws that encouraged the American taxpayer to own a home. Laws such as the "principal residence roll-over rule" and the "once-in-a-lifetime, over-55 exemption" have been significant tax breaks for many years. Many analysts have credited these tax laws in part for the rapid appreciation of real estate that took place during the past 20 years.
NEWS
July 21, 1995 | LESLIE BERKMAN, TIMES STAFF WRITER
Orange County homeowners have been finding flyers in the mail enticing them to take advantage of declines in their home values by petitioning to have their property taxes lowered. Many of the offers come from appraisers who, faced with a decline in their traditional sources of business with slowing of home sales and the refinancing market, are offering to represent taxpayers in appeals.
NEWS
July 21, 1995 | LESLIE BERKMAN, TIMES STAFF WRITER
Orange County homeowners have been finding flyers in the mail enticing them to take advantage of declines in their home values by petitioning to have their property taxes lowered. Many of the offers come from appraisers who, faced with a decline in their traditional sources of business with slowing of home sales and the refinancing market, are offering to represent taxpayers in appeals.
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