Great News, the End to High Property Taxes Is Almost Here

Originally posted 2009-02-13 06:00:44. Republished by Blog Post Promoter

On February 10, 2009, the Indiana Senate passed an amendment for the permanent cap to property tax bills. The bill passed the Indiana Senate with an overwhelming majority of 34 to 16 vote.  The bill goes to the House for consideration, but House Speaker, Patrick Bauer, suggested that the House representatives wait until next year’s session to vote on the amendment.

With the property taxes being an important issue to the residents and the forefront of the Indiana residents’ mind it may not be wise for the House to postpone their voting on the amendment. 

This amendment will cap the property taxes for homeowners, investors, and business owners, alike.  The homeowners would be able to benefit from only paying one percent of the assessed value of the home.  Whereas, the investors would pay only two percent of the assessed value of the property.  Still yet, the business owner will pay only three percent of the property’s assessed value.

If the amendment is passed by the House, Indiana’s resident can look forward to voting on the amend law in 2010.

Hopefully, the amendment will be approved in the House, as well.  If lower property taxes is important to you contact your congressmen and tell them so.  Your voice does have power.

Valparaiso, Indiana Tries to Make City Development Recession Proof

Originally posted 2009-05-30 05:04:41. Republished by Blog Post Promoter

I am happy to see that despite the recession Valparaiso will continue developing the city. The city’s mayor, Jon Costas, announced that “development will continue, but just needs a little tweaking to the plan to benefit the residences of the city.”

The plan that Mayor John Costas proposed will benefit the residences by creating more jobs. The Mayor’s plan consist of guiding new proposed business to existing location and work towards getting more “environmentally friendly” businesses such as, research and development, distribution, and light industries. The city also would like to attract heavy manufacturing company, but that is not its number one priority.

With economical woes all around them, one city is still looking to the future.

Did You Notice What Color Lake Michigan Was This Morning?

Originally posted 2009-05-29 05:00:35. Republished by Blog Post Promoter

Lake Michigan looks green, yellow or some other color of the rainbow due to pollution.Pollution from where this time you ask? Pollution from US Steel’s Coke Plant.  In 2008, it was discovered that the coke plant’s old tank farm that was demolished in 2001 developed a crack.  That crack seeped benzene into the underground water system.

US Steel discovered the leak and subsequently pollution in 2008.  The test revealed that the contamination had reached “600 times the federal drinking water limit.”  Lake Michigan is only a mile from the source of the pollution, and the benzene entered the lake from a plume that drains directly into the lake.

Benzene is a cancerous colorless liquid that floats on top of water.  The liquid is cancerous after long time exposure and when it is in high concentration in food and/or water.

US Steel, however, wants the public to believe there is no hazard stating that the leak was only in its part of Lake Michigan.

The company fails to realize that plant and animal life that has been exposed live in all of Lake Michigan.  The company also does not realize that the fish that are caught for food consumption can contain the deadly contaminate and spread it to humans if they eat the fish from Lake Michigan.

In an effort to disfuse the concerns of the citizens of Lake and Porter counties, US Steel had a public meeting on March 29, 2009 to answer any questions or concerns; however, if you missed the meeting you can contact the US Environmental Protection Agency Region 5 and/or Indiana Department of Environmental Management for more information.

Breaking News for Investors

Originally posted 2009-01-04 13:04:51. Republished by Blog Post Promoter

On August 1, 2008, Freddie Mac changed its guidelines.  Those changes are affecting investors who finance the property in their portfolio and have those properties under the entity, limited liability corporation (LLC). 

 

Freddie Mac backs many of the conforming loans on the secondary market, so any changes in the rules is very important and should be headline news; hence, this news release. 

 

The changes are as follows:

• Freddie Mac will no longer approve refinance for any property that has been under a limited liability corporation entity for the previous six months. 
• Freddie Mac is limiting the number of properties the investor can have financed to four not ten as in years passed.

 

The solutions to these changes are as follows:

• Cash is king.  Allow the equity that you have build in the properties you currently own acquire new properties not using a loan; however, with this option you will have to factor in the cost of repairs.  In other words, the cash has to cover the purchase and the repairs.
• All properties that are acquired must be protected.  The way they are protected will still include the LLC.  It will just be a trust that will act as a go between.  The property will be held under a trust with the beneficial interest being the LLC.

 

Remember, these changes do not preclude you from owning properties.  It just changes how they are held and how many can be financed at any given time.  Lastly, speak with an attorney on how to set up your trust and having the beneficial interest going to the LLC.

Breaking News-That May Save Your Life

Originally posted 2009-03-25 15:13:38. Republished by Blog Post Promoter

The recent tragedy of a young woman being
kidnapped and eventually killed, after she had
repeatedly given the kidnapper a wrong PIN to
her ATM card. If she knew the method below,< br> she could have been saved. So I think it is
important enough to let you know. Here you go.

If you should ever be forced by a robber to
withdraw money from an ATM machine, you
can notify the police by entering your Pin #
in reverse. For example if your pin number
is 1234 then you would put in 4321.

The ATM recognizes that your pin number
is backwards from the ATM card you placed
in the machine. The machine will still give
you the money you requested, but unknown
to the robber, the police will be immediately
dispatched to help you.

This information was recently broadcasted
on FOX TV and it states that it is seldom
used because people don’t know it exists.

Please pass this along.

Citizenship Not Just a Dream Anymore for Some Immigrants

The Dream Act will make it possible for several immigrants to become citizens of the United States.

The Dream Act is geared towards minors who entered the United States when they were under the age of 16.   The minors will have to have been living in the United States for at least five years.  It also requires that the minor receive a high school dipolma or GED.  The bill will also consider if the minor’s behavior and moral character in its decision to grant citizenship to the minors.

The bill was developed to keep these children from having to pay unfair foreign student’s tuition for a college education when they have been in the US for most of their lives.  The tuition for a foregin student is twice that of an out of state student.

Education is important to everyone and it is something that we can not do without.  It is up to us to ensure that all children get a quality affordable education.