Advocacy Update, December 2019

Government Affairs, Uncategorized

Advocacy Update, December 2019

THIS MONTH IN GOVERNMENT AFFAIRS

While Santa prepares for a busy night of deliveries, the worker elves at county courthouses have been preparing gifts of their own this Holiday Season. Throughout the Metro, homeowners have been receiving property tax statements for the coming year.

We appreciate the considerable efforts of elected officials spend in preparing their budgets, but it is not lost on SPAAR that most local governments are asking for additional resources in 2020. While the Association usually refrains from opposition to specific increases, your staff are working with our communities to:

  • promote tax assessments of all real property on an equitable basis.
  • restructure and reduce unreasonable reliance upon property taxes.
  • support planned growth that stimulates the economy and increases the tax base.

 

Working with our volunteer leadership, SPAAR staff are utilizing your membership investment to encourage the implementation of innovative development techniques that create economic opportunities in each of our cities in towns.

 

If you have an issue in your community that needs the attention of REALTORS®, please reach out to Vice President of Advocacy & Community Engagement Joe McKinley, or Government Affairs Directors Bobby Goldman and Khayree Duckett.

North Metro News

South Metro News

East Metro News 

West Metro News

State & National News

  • On November 26, 2019, the Federal Housing Finance Agency (FHFA) published the 2020 conforming loan limits for Freddie Mac and Fannie Mae. The baseline (national) limit will increase to $510,400 from $484,350 in 2019. To look up the loan limit in your area, click here. The new limits take effect on Jan 1, 2020. FHA is expected to publish its loan limits in early December, which should mirror the FHFA limits.
  • A recent NAR analysis demonstrates that counties with public school enrollment gains experienced higher price appreciation in the last 7 years.
  • Letters to some Minnesota cabin and vacation property owners arriving this month pose questions that could carry significant tax ramifications, possibly bumping their land into a costlier commercial classification.
  • The National Flood Insurance Program (NFIP) is tied to the latest Continuing Resolution (CR). The House passed the measure on Tuesday to allow the Senate plenty of time to fund the government until September 30, 2020.

 

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