Real estate tax extension raises hope for housing market - WALB.com, South Georgia News, Weather, Sports

Real estate tax extension raises hope for housing market

ALBANY, GA (WALB) -

Good news for folks in the market for a new home. Important tax breaks were extended that will continue to help save a lot of money.

The mortgage interest deduction and the one year tax break on mortgage debt forgiveness were protected in the fiscal cliff deal, which means homeowners who are refinancing or trying to shake off mortgages will continue to gain tax relief.

The 500 dollar deduction on energy saving items will also continue a break that will give businesses some leeway.

"The realtor organization worked really hard and we all talked with our legislators to try and keep these items because it helps people and we are all about helping people and providing services anyway," Said Marlene Kimball, Associate Broker at Century 21.

According to Realtors it is a great time to buy and they hope the extension will help get the market moving.

Copyright 2013WALB.  All rights reserved.

  • More WALB News10 HeadlinesMore News HeadlinesMore>>

  • Two people shot in Valdosta

    Two people shot in Valdosta

    Thursday, April 27 2017 11:46 AM EDT2017-04-27 15:46:23 GMT
    (WALB image)(WALB image)

    Valdosta Police detectives are trying to figure out who shot two people within the last two days. 

    More >>

    Valdosta Police detectives are trying to figure out who shot two people within the last two days. 

    More >>
  • Albany’s unemployment rate drops in March

    Albany’s unemployment rate drops in March

    Thursday, April 27 2017 9:21 AM EDT2017-04-27 13:21:01 GMT
    (Source: WALB)(Source: WALB)

    Figures released by the Georgia Department of Labor (GDOL) today show that Metro Albany’s unemployment rate dropped three tenths of a point in March, to 5.7 percent. It was six percent in February. 

    More >>

    Figures released by the Georgia Department of Labor (GDOL) today show that Metro Albany’s unemployment rate dropped three tenths of a point in March, to 5.7 percent. It was six percent in February. 

    More >>
  • West Mims Fire visible from space

    West Mims Fire visible from space

    Thursday, April 27 2017 4:13 AM EDT2017-04-27 08:13:38 GMT
    West Mims Fire from space (Source: NASA)West Mims Fire from space (Source: NASA)

    As of Wednesday the fire was 74,000 acres in size and only 8% percent contained. A NASA satellite captured an image of the smoke from outer space and highlighted the actively burning areas. 

    More >>

    As of Wednesday the fire was 74,000 acres in size and only 8% percent contained. A NASA satellite captured an image of the smoke from outer space and highlighted the actively burning areas. 

    More >>
Powered by Frankly