Ali Jafri’s Post

October 1st has come and gone, and new grand lists across many Connecticut municipalities are now in the process of being finalized. During this busy time of the assessment year, it is crucial for property owners—and particularly owners of business personal property—to not lose sight of other crucial deadlines that are right around the corner. Specifically, it's crucial for Connecticut property owners to remember to file their annual personal property declarations with their local assessor, in addition to other documentation if they seek relief such as tax exemption. Failing to file your declaration with the assessor on time can have significant financial consequences. Not only do you risk having a 25% assessment penalty added to your personal property’s annual tax bill or risk being subject to a different depreciation schedule than the one that would apply had you filed by November 1st, but if you own tax-exempt property and fail to file necessary documentation by that date, you risk losing any exemption status altogether. Read the full alert by Nicholas Vitti Jr., Joseph Szerejko and Jaimie Russell: https://lnkd.in/euv6vGbw #MurthaCullina #ConnecticutLawFirm #AnnualPersonalPropertyDeclarations

The Real Estate Institute of Victoria (REIV) has called on the Victorian government to focus on increasing overall housing supply. In a submission ahead of the 2024-25 Victorian State Budget, REIV urged the state government to reconfigure the state’s property tax regime to incentivise investors. REIV called some current tax laws “comfortable yet outdated” and urged the government to replace them with fit-for-purpose tax measures. REIV suggested three ways this can be done: 1. The state government should consider a tax incentive for investors providing long-term rental properties. This could be a land tax concession, for example. 2. The state government should do a complete review of current stamp duty regulations. 3. The state should keep negative gearing as “negative gearing plays an important role in incentivising investment in the state’s rental market”. #turnkeybuilder #melbourneproperty #melbournerealestate

🏡 Important Update for Victorian Property Owners: Expanded Vacant Land Tax The Victorian government has expanded the scope of the Vacant Land Tax, extending its reach beyond Melbourne’s inner suburbs to include the entire state. If you own vacant land in Victoria, this change could impact you. Our latest blog post covers: 🔹 Newly affected areas 🔹 Who is required to pay this tax 🔹 Exemptions and compliance tips Understanding the latest tax requirements is essential for making informed property decisions. Visit our blog to ensure you’re up-to-date and prepared for these changes. #TaxUpdate #VacantLandTax #VictoriaProperty #BTNAdvisory #PropertyOwners #StayInformed https://lnkd.in/g8bBqTHP

In this new article, Akerman Partner Daniel Miktus and Associate Trav Clark break down proposed rules governing tax abatements for residential property conversions proposed by Washington D.C.’s Office of the Deputy Mayor for Planning and Economic Development. The new rules will expand the boundaries of the eligible area and establish the conditions to receive a tax abatement, among other things. #DCRealEstate https://lnkd.in/g2S8mYM5

The Countdown Is On for UK Property Owners! 🌟 As April 2025 approaches, significant changes in property taxation will take effect, notably the end of the Furnished Holiday Lettings regime. Now is the crucial time to understand and act on the opportunities available. Our Tax Analyst, Carlos Arribas Svendsen, has written a comprehensive blog that guides property owners through the essentials of maximising Embedded Capital Allowances before these benefits are discontinued. Learn how these allowances can reduce your tax liabilities and strengthen your investments. Read Carlos's insightful blog HERE: 📄 https://bit.ly/3Sc6ahp Ready to reduce your tax bill? Get In Touch: 📞 0161 7144 721 🌐 https://bit.ly/4bFCYWQ 📩 enquire@countingking.co.uk #embeddedcapitalallowances #reducingtax #plumbingandheating #airconditoningandventilation #firesafety #electricalinstallations #security #explore #unitedkingdom #cashflowisking #countingking

🏡 What is Assessed Value in Real Estate? 🤔 Ever wonder how your property’s value is determined for taxes? That’s where assessed value comes in! 🔍 The assessed value is the dollar amount a local tax authority assigns to your property for taxation purposes. It’s often different from market value, which is what buyers are willing to pay. 💰 Knowing your home’s assessed value helps you understand your property taxes and plan for the future. Curious about your home's assessed value? Let’s talk! 💬 Tammy Hartford 239-771-3004 tammy.hartford@theagencyre.com https://lnkd.in/eqWek4t8 #RealEstate101 #AssessedValue #PropertyTaxes #HomeOwnership #RealEstateTips #TammyHartford #LuxuryHomes #SWFL #Florida #Naples #BonitaSprings

Tax-free rental income? Yes please. The “Augusta exemption” is an IRS rule that allows homeowners in any income bracket to exclude up to 14 days of rental income from their taxable income. Here’s how it works: You must rent out a dwelling unit that you use as a personal residence. The rental price must be reasonable for that location on that date. The 14-day restriction is cumulative and doesn’t have to be consecutive. As long as you don’t exceed the 14-day rent rule in a single tax year, you can qualify. Remember: expert advice and considered planning can add up to significant tax savings. The Augusta exemption is a lesser-known tax loophole where you can save valuable dollars. Read our tips to make the most of this legislation: https://bit.ly/443g1eb #theaugustaexemption #taxtips #taxadvice #cpa

Principal private residence relief might appear to be a simple concept: any gain on a taxpayer’s main home is exempt from capital gains tax. But in reality PPR has many intricacies, so it’s possible for taxpayers to inadvertently make a mistake. The relief is automatic, and no entry needs to be included on a self-assessment tax return. However, it’s important to understand the limitations, such as the amount of land that attaches to the property. Plus, the taxpayer could be asked to give evidence that the dwelling was actually used as their private residence. Learn more: https://lnkd.in/dRWTUgBc #taxrelief #PPRrelief #uktaxadvice #taxappeals #homeowners

Important Update for UK Property Owners! 🌟 As April 2025 approaches, significant changes in property taxation will take effect, notably the end of the Furnished Holiday Lettings regime. Now is the crucial time to understand and act on the opportunities available. Our Tax Analyst, Carlos Arribas Svendsen, has written a comprehensive blog that guides property owners through the essentials of maximising Embedded Capital Allowances before these benefits are discontinued. Learn how these allowances can reduce your tax liabilities and strengthen your investments. Read Carlos's insightful blog HERE: 📄 https://bit.ly/3Sc6ahp Ready to reduce your tax bill? Get In Touch: 📞 0161 7144 721 🌐 https://bit.ly/4bFCYWQ 📩 enquire@countingking.co.uk #embeddedcapitalallowances #reducingtax #plumbingandheating #airconditoningandventilation #firesafety #electricalinstallations #security #explore #unitedkingdom #cashflowisking #countingking

🏡💰 As an investor, understanding property taxes in Miami is crucial for your financial planning and long-term ROI. Miami-Dade County has one of the most competitive property tax rates in the state of Florida, but there are several factors that can affect what you’ll pay, such as the property’s location, the assessed value, and any exemptions or deductions. 🔑 Key Tip: Homestead exemptions and other tax incentives can significantly reduce your annual tax burden, especially for primary residences. It's essential to stay informed about tax rate changes and opportunities for deductions to optimize your investment returns! 🌴📊Investing in Miami real estate means not only capitalizing on a booming market but also staying savvy about the local property tax landscape. Stay ahead by doing your research and consulting with local experts! Ana Steinman Best Realtor in Miami ☎️305-794-9515 🏡https://lnkd.in/eza_tKRu 🌐https://lnkd.in/e36TxhcN 👉https://lnkd.in/dpGijcs #BestRealtorInKendall #BestRealtorInCoralGables #BestRealtorInMiami #PropertyManagement #MiamiRealEstate #PropertyTaxTips #InvestmentProperty #MiamiInvestors