In the wee hours the morning April 27, 2013, the final gavel fell on the 2013 session of the Indiana General Assembly. The big news was a $30 billion biennial budget, which included half of the Governor’s requested 10-percent reduction in the state income tax to be phased in over two years. In what Republican Speaker Brian Bosma termed “the single largest tax cut in Indiana history”, the budget also includes a phase out of the inheritance tax and several corporate tax reductions.
Thanks to the strong voices of REALTORS® throughout the state, this was a very successful session for the real estate industry. Here’s a quick status report on a few key bills of interest to REALTORS®:
–SB 615, an IAR priority, further implements the new streamlined real estate license law changes scheduled to go into effect in July of 2014
–HB 1372, an IAR priority, provides additional liability protection for brokers against imputed knowledge of the condition of a property and removes the failure of a buyer’s signature on the seller’s disclosure as sole grounds to invalidate a contract
–HB 1313 provides for a 1-year moratorium on costly new local inspection programs for rental properties
–SB 9, which would have given the seller’s disclosure form the effect of a warranty and made brokers liable for information contained on the form was stopped
–SH 520, which would have eliminated the real estate license was stopped
North Eastern Group REALTORS® support the efforts of the Local, State and National Associations of REALTORS® to protect home ownership rights including protecting the mortgage interest deduction, defending against transfer taxes and keeping property taxes low.
At North Eastern Group Realty, we are prepared to assist our clients with their significant Fort Wayne real estate decisions. Our corporate commitment is to provide real knowledge, proven experience and professional, quality service. To search all Fort Wayne homes for sale or find a Fort Wayne REALTOR®, visit our website at NorthEasternGroup.com.
North Eastern Group Realty is Fort Wayne’s largest independent real estate company located at 10808 La Cabreah Lane, Fort Wayne, IN 46845.
The National Association of REALTORS reports that 90% of home buyers use the internet to search for a new home while only 27% use the newspaper. (Only 1% of home buyers actually find their home in a newspaper.) Since the internet is THE place to market a home, a single-property website is an excellent way...
At North Eastern Group Realty, we are prepared to assist our clients with their significant Fort Wayne real estate decisions. Our corporate commitment is to provide real knowledge, proven experience and professional, quality service. To search all Fort Wayne homes for sale or find a Fort Wayne REALTOR®, visit our website at NorthEasternGroup.com. North Eastern...