Allegheny County's Property Valuation Storm

Pushing back the timeline for new property valuations might have solved a certain timing issue for Allegheny County and those running for the plum job of County Chief Executive, but one gets the feeling that Judge Wettick is not quite so keen on the idea.  Judge Wettick expressed concern last week over how the delay in valuations will affect entities such as the City of Pittsburgh and Pittsburgh Public Schools, which operate budgets on a calendar year and therefore collect taxes by May.  This differs from many suburban municipalities and school districts, which are more likely to pass budgets in the summer months or mid-year.  With certification of the new values now not being settled until April 2012, the delay may cost the city and school district hundreds of thousands of dollars for loans to cover their operating costs. . . .

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"Crisis" Can Create Opportunities by Meeting Challenges

Several interesting items spotted amongst the media offerings RAMP Goverment Affairs trolls daily.  Hmmm, makes me wonder if we will see some interesting or newly reconstituted coalitions being born. . .

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Data Junkies and Number Crunchers, Settle In

REALTORS® don't need to be convinced on the importance of Mortgage Interest Deduction (MID).  Yet a misconception, or a lack of full understanding, on the extraordinary value and use of MID persists among elected officials and even the public, let alone the political pundits and other media talking heads.  In a recent blog entry, I covered the compelling stats on how widely used MID is, and how tinkering with it would have serious consequences nationwide for homeowners.  NAR Chief Economist Lawrence Yun wrote a piece in the July 2010 edition of "Real Estate Insights" (psst, on pages 5 and 6) on long-term recovery, what the absence of the homebuyer tax credit has meant, and muses on what would happen if the tax code were re-written from scratch. . .

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Dip Your Toes, Then Dive In

RAMP Government Affairs hasn't been shy about its enthusiasm for the upcoming general election, where local races will permeate the ballot.  But even for those of us who live and breathe politics, trying to learn about the candidates and decide who is worthy of our precious vote can still be a daunting task.  Unlike national or even state-level candidates for office, resources may not be as available, as positions not as widely-publicized.  Factor in the high level of government fragmentation in Allegheny County, and it's no wonder some voters are overwhelmed and not sure where to begin.  Among the distinguished panelists for our upcoming Annual Meeting on September 30th, are the two candidates for Allegheny County Chief Executive.  So let's start there . . . how do Raja and Rich Fitzgerald view issues that REALTORS® care intimately about?  We can begin by taking a look at policy positions on their web sites . . .

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When Not to Tinker Under The Hood

The Super Committee members have been named. But Congress is on vacation, recess, until September 6th.  President Obama has announced his plan to unveil a jobs plan on September 6th.  RAMP Government Affairs thinks school will most definitely be back in session, ahem.  So let's take this opportunity to refresh our minds on the importance of Mortgage Interest Deduction, lest any of the legislators' minds be a bit foggy from the hazy days of summer...

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"All Politics Is Local"

"All politics is local" is an oft-repeated quote attributed to former U.S. Speaker of the House Tip O'Neill.  REALTORS® know how important location is, the effect it has on the value of a property, the perception of the community, and the attractiveness of a school district.  The decisions made by elected officials who serve at municipal level, as well as on school boards, have an enormous impact on a neighborhood.  This fall, your general election ballot will be full of local races for positions representing municipalities and school boards...

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Come to Listen, Come to Learn, Come with Questions

The excitement and anticipation are growing as the days tick closer to our Annual Meeting, during Centennial Weekend.  Against the backdrop of governmental budget worries and pocketbook apprehension, local residents are anxiously watching as municipalities and school districts make decisions on what to cut, what to raise, and how to fund it.  REALTORS® are wondering what the reassessment means to their clients, and themselves.  Add into the recipe the biggest local election in a decade for the job of Allegheny County’s next County Chief Executive being waged.  What could be more timely than being our guest on at RAMP’s Annual Meeting?  RAMP REALTORS® want to hear from the local politicians and state legislators on how they read the tea leaves.  RAMP Government Affairs is pleased to confirm the following elected officials will be on our Reassessment Panel . . .

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Financial Crisis = Mortgage Lows?

Amid the worries and skepticism regarding what happens next with the American and global economies, remains (for now) the heartbeat of hope as mortgage rates reach new lows.  Reassure yourself and clients by clicking here to read this quick article on "Mortgage Rates Reach Record Lows"...

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S & P on a tear

Standard & Poor's have been grabbing the financial headlines the past few days, and while the impact of the United States' debt crisis will be felt by all Americans in some capacity, REALTORS® are likely to understand and the tangible effects more readily.  Even before news broke over the weekend of their downgrade of the U.S. credit rating, rumblings were afloat that S & P was in a bad mood...

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Political Speculation is Up, Along with the Debt Ceiling

It came down to the wire, but Congress voted to raise the debt ceiling.  Yet uncertainty remains a persistent feeling.  While the agreement as passed has no direct impact on real estate tax rules or spending provisions, a tight timeline has been prescribed, and the makeup of the to-be-determined “Super Committee” has the political lure of a parlor game, as pundits, insiders, and even the curious onlooker wondering WHO will be chosen...

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