Rosemount Place Owners Association

Use This HOA Tax Break!


 
Don't overlook this easy to use tax break...
Did you know that some of the improvements your HOA made can also reduce your gain when you sell your home?
Some of those monthly dues to your HOA were spent improving your community as well as maintaining it. When you sell, it’s time to reap the financial benefits!
Follow These Steps:
  1. Find your percentage ownership in the HOA (Hint: look in your HOA Declaration. If you belong to a cooperative, you can find this number on your share certificate or proprietary lease.)
  2. Determine which improvements qualify (get an accounting from your HOA of improvements made while you were a homeowner and then use IRS Publication 523)
  3. Do some math: Multiply qualified HOA improvements by your ownership percentage and subtract that from your gain from selling. Read More… Taxable Gain = Gain – (Improvements X Ownership)
This tip contains general information. Individual financial situations are unique; please, consult your financial advisor or tax attorney before utilizing any of the information contained in this newsletter.
Posted by CarolSmythe on 02/07/2014
Last updated on 02/25/2014
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Tacoma, Washington 98465
West Tacoma News

Developers expect to start work on long-planned Tacoma Project this year.

Developers of two separate affordable housing projects say they expect to break ground later this year on what will be the first buildings at Aviva Crossing, a large mixed-use development plan west of the Tacoma Community College campus.

The developers will deliver the lion's share of up to about 550 residential units currently planned for the site, located in the James Center North commercial center. The 6.9-acre site is centered on the west side of South Mildred Avenue between South 15th and South 17th streets.

The project calls for three new residential buildings to be clustered on the east end of the property, nearest to Mildred, and a 20,000-squar foot park that doubles as stormwater infrastructure.

The west end of the site, where an L-shaped office and retail building now stands, had been slated to join in the redevelopment but will remain as is for not according to a spokesperson for THA.

Planned:

Koz Development: Five-story, 220-unit affordable units expected to house mainly students. Few parking spaces, as most student-residents will be within walking distance to services.

Mercy Housing NW: Four-story, 129-unit affordable housing project.

Tacoma Housing Authority: 150 to 200-unit mixed-use structure with affordable units to be delivered by a developer selected through a proposal process.

The full build-out of the transit-oriented development will have approximately 550 affordable and market rate units in addition to retail, green space and parking.

Source: City of Tacoma Planning Dept.


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