Blog Preston’s Post

* 43 days until the 2025 #newbrunswick #propertytax notices are mailed This is what was said in the Throne Speech yesterday about property tax reform: "They will overhaul #propertytax to ensure stability and fairness". This is what they said about the related topic of stable, diverse funding for municipalities: "Your government will work with municipalities to implement comprehensive and fair fiscal reform". I sure hope they don't think they can get all that done within a year. For sure they can get a start on it but anything more meaningful will take more time. And we New Brunswickers definitely need something more meaningful. https://lnkd.in/eUmgQHbd #propertytaxrelief Union of the Municipalities of New Brunswick | Union des Municipalités du Nouveau-Brunswick #nbpoli

We are at a crucial moment where the General Assembly is considering entering into special session to enact tax policy changes to benefit the most wealthy in society to potentially avoid the threat that a ballot initiative might benefit the most wealthy in society even more. The General Assembly should not cower to the threat.

Why is it important to make “early tax planning” a priority? …especially if you see yourself as the next Duke of Westminster. One of the reasons; on estates worth more than £2m in value, for every £2 extra of estate, the primary residence nil-rate band is reduced by £1 - meaning it is removed entirely once an estate reaches £2,350,000 in value.

Last night I, and 22 other community leaders, residents, and Citilink staff, had the opportunity to speak before members of Fort Wayne City Council. The topic, the potential impact of budget short-falls and under-investment in public transportation on the lives of residents in Fort Wayne and Allen County. The projected tax levy ranges between $4 and $12 per year, if you have not already reached your property tax cap. While tax increases are often difficult, it truly is an INVESTMENT in our community. Please show your support for approval of the proposed 2025 budget and tax levy. https://lnkd.in/eCsrq-Vp #InvestInPublicTransportation #AccessibleEquitableTransportation #PublicTransportation #ShareYourStory #LetYourVoiceBeHeard #EconomicInvestment #CommunityInvestment #CommunityValue

May trigger flashbacks to the Trudeau 1.0 of seven and eight years ago - or for some to Harper's "five priorities" of 2006. #politics #publicadministration Interesting to see the Starmer approach take shape. They say PM Starmer will chair the five "mission boards" and that each "mission" will have a lead Minister. Not entirely clear yet how mission boards differ from standard Cabinet committees. Also interesting to read elsewhere that friction has already emerged between the Finance Minister (Chancellor) and Number 10. This is a recurrent alignment issue in politics and governance in Westminster systems.

This year's King's Speech emphasised the goal of generating wealth across all regions of the country and enhancing the living standards of working individuals 👑 The 35 bills and draft bills aim to drive economic growth. In the housing and planning bills: ▪ A Planning and Infrastructure Bill will streamline the process for approving critical infrastructure, and overhaul rules on the compulsory purchase of land. ▪ A Renters' Rights Bill, will ban so-called no fault evictions and extend a series of building safety rules for social tenants, known as Awaab's Law, to private renters. ▪ A draft Leasehold and Commonhold Reform Bill will curb ground rent for existing leaseholders, and ban forfeiture - where leaseholders are threatened with losing their home - over small unpaid debts. And under tax and spending: ▪ A Budget Responsibility Bill will ensure official forecasts have to take place ahead of Budgets. ▪ A Pension Schemes Bill will introduce new rules and requirements for private-sector pension schemes. ▪ A bill will allow the Crown Estate to borrow from the government to invest in new infrastructure projects, an idea suggested under the previous Conservative administration. A good piece below from the BBC summarising the key points ⤵ https://lnkd.in/esMsqzVx #thekingsspeech

Uh-Oh, in the #USSenate #SwingRace in #Maryland, #Democrats have to grit their teeth today on the news from #CNN here that our Candidate #AngelaAlsobrooks decided to take several #PropertyTaxBreaks which she was not entitled to receive, reports #CNN's #EmSteck & #ManuRaju. Although Maryland is decidedly a #BlueState, she's facing very popular former #Governor #LarryHogan, a #Republican, who may be able to capitalize on her self-serving deductions, helping secure a #SenateMajority for #Republicans, since #Democrats are defending this seat. Fascinating Story, worth the read! Interesting question is whether this will be "a #CivilMatter," or whether it might result in #Criminal Charges, the latter of course not very likely in a #Democrat-Controlled State.

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Most counting down for CNY and a bulk of us are more excited to Count Down for #SGBudget2024 … i believe there will be a huge sum of #SGBudget to help #Workforce in #Upskilling and #Re-Skilling probably more than last year … in view of #AITechnology going to replace some of the #Jobs … Hopefully nothing “alarming” on #IRAS Taxation on #RealEstate 🙏🙏😅 as Property Prices have already more or less Stabilised be it #PublicHousing or #PrivateResidential. #MinistryOfFinance #MAS #SME #Local #Economy #WSQ #Training #Residential #ABSD #SSD #PropertyTax #Adaptability #WindOfChange #RippleEffect #LawrenceWong

* 90 days until 2025 #PropertyAssessment notices are mailed here in #newbrunswick (January 20) Congratulations to the New Brunswick Liberal Party | Parti libéral du Nouveau-Brunswick and Susan Holt for their historic win last night. I knew there was an appetite for change afoot but I didn't expect it to this extent. Now, the real work starts for them, as there is nothing like having raised expectations not be fulfilled. There are many files to which Premier-Designate Holt has to pay attention but we New Brunswickers need to do everything possible to make sure that the promised comprehensive #PropertyTax reform stays on the radar. The problem will be that the munis won't like the type of reform that's needed, namely revenue neutrality of assessments/taxes. Even if the Liberals do follow though on reform, will they do what's right or do just enough to say they've kept their promise without actually undertaking fundamental reform? It's high time we joined the more advanced provinces, whose property taxes don't increase just because assessments do. Union of the Municipalities of New Brunswick | Union des Municipalités du Nouveau-Brunswick New Brunswick Real Estate Association