Governor Andrew Cuomo in his State of the State address and in his budget address earlier this month called for a new payroll tax system to be implemented in New York. In his remarks, he unveiled two proposals. One was to completely eliminate the income tax with a payroll tax so that an employer could…
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New York State is facing a budget deficit in the upcoming fiscal year. The budget is due by April 1st and faces a potential shortfall of $4 billion. Both political parties will point to the other as the culprit and both parties likely have valid points on why the state finds itself in this position.…
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Last year in my December column I wrote about diversity. I also included this sentence in my introductory paragraph. “In the 50-plus years since Dr. King’s assassination we have certainly made progress in improving race relations and creating economic opportunities for all of our citizens, regardless of race or ethnicity. However, all we have to…
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The Putnam County Chamber of Commerce board members have been bringing to the forefront key issues for nearly 10 years. We recently put together a County Planning task force to drill down and implement those issues. Here are some highlights of our efforts: County Chamber Planning: Meetings will be held with the County Executive, Planning…
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Real estate brokers and agents have to comply with the federal law known colloquially as RESPA, which stands for the “Real Estate Settlement Procedures Act.” This law restricts real estate licensees from receiving anything of value in exchange for the referral of settlement service business. Appraisers, real estate licensees and title companies are just a…
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Happy New Year! I would like to thank the members of HGAR for their confidence in electing me as their 2018 President. It’s quite an honor and privilege to serve such a great association. I have some big footsteps to follow. My predecessor Dorothy Botsoe did an awesome job and had us all drinking tea…
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Now that federal “tax reform” has passed and been signed into law, it remains to be seen how the provisions of the bill will affect home values and taxes in the State of New York. It is an opportunity for New York State government to reimagine the way government works and functions. Several initiatives could…
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I entitled my December column last year, “Blink of an Eye,” and it certainly does feel like the years go by more and more quickly. However, I must confess that from a political stand point, it seems like about four years of politics were jammed into 2017 instead of just one. In many respects it’s…
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"All our dreams can come true if we have the courage to pursue them." Walt Disney It’s here, December, which means January will be knocking on our doors shortly. And 2017 was a year filled with the courage to accept change and make some new moves. From our Grand Gala top of the year kick-off,…
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In 2010, New York Gov. David Paterson signed “Amanda's Law,” which went into effect on February 22 of that year. The law is named for 16-year-old Amanda Hansen of West Seneca, NY, who died in early 2009 due to a carbon monoxide leak from a defective boiler while she was sleeping at the home of…
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On Small Business Saturday, Putnam County Executive MaryEllen Odell and I conducted our fifth annual tour of Putnam County small businesses. Stores were filled with great selections, beaming with community pride and the kind of service only small town retail can provide. We visited flower shops, gift shops, boutiques, liquor stores and more. It’s amazing…
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Depending on your outlook, New York City government either has a spending problem or a revenue problem. In the last four years the New York City budget has gone from around $72.7 billion to approximately $86 billion. A good economy has caused revenues to the city government to surge, but a downturn in the economy…
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There are new Department of State regulations that went into effect on Oct. 1, 2017 and will expire Oct. 1, 2022 concerning cease and desist zones in parts of the Bronx and Queens counties. The DOS determined that these new rules were warranted to prevent what were perceived by the public to be intense, repeated…
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At this juncture you may be sick and tired of hearing about tax reform and how the current proposals from the Senate and the House will impact the housing market. Goodness knows it can seem like some type of board game the way the Congressional budget negotiators keep tweaking and modifying the various pieces of…
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Well, we are closing in on the end of 2017. It’s been a great year getting to know everyone and connecting and reconnecting. November kicks off the official holiday season with high expectations for a cozy and festive time of year. Thanksgiving is that special day full of good food and good memories for most…
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In the 2018 budget, Legislators are getting a 13.9% raise, according to the Putnam County Budget Office, bringing their salary to $40,839, which amounts to 1.52% a year since the Legislature has not had a raise since 2007 (10 years). The County Executive's salary will rise to $155,209 from $151,600. A recent Facebook post was…
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From the onset of the discussion on “tax reform,” the House Republican leadership has said the MID (Mortgage Interest Deduction) would not be touched. We heard in news report after news report that specifically MID would not be affected. We have also heard, year after year that home ownership is important to the Republican leadership.…
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Congress is now actively engaged in modifying the tax code and Realtors and homeowners in New York State stand to lose big time if Congress votes to repeal the state and local income and property tax deduction. This deduction has been a part of the tax code for decades and helps New Yorkers to participate…
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Recently at the Putnam County Legislature’s Economic Development Committee meeting, the Putnam County Industrial Development Agency announced it is now in full compliance with the requirements of the New York State Comptroller’s Office and is open for business. The Legislature was instrumental in its support and assistance as well as the County Executive and her…
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As reported in this edition of Real Estate In-Depth, the Hudson Gateway Association of Realtors and the Staten Island Board of Realtors co-hosted a Global Summit event on October 2nd. Hundreds of attendees congregated at the Marriott Marquis in Midtown Manhattan to hear from industry experts on the importance of having a global perspective and…
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