PAR CFO Jim Antonio Retires

After 43 years of superior and steadfast financial management for the Pennsylvania REALTORS Association Jim is retiring. For those REALTORS who have never experienced the in person involvement of our state meetings I’m sad that you have never meet this man. He has overseen our associations financial growth from $500,000 to over 7 MILLION today. Speaking as a past financial committee member, he served more than just our top bean counter.  As our leadership changes every year Jim held the memories of past experiences. Not only what happened when but was able to add insight as to the circumstances and share WHY decisions were made. When I was going through my masters program Jim helped me analyze our new PAR building as an income producing property for our membership and an A for me. His insight, dedication, and friendship will be greatly missed. Thank you Jim!

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TAX TIME and RENTAL DEDUCTIONS

Did you rent out your primary or 2nd home in 2021? If so some of you may be wondering just IF and WHAT your deductions may add up too. First YOU should discuss this information with your tax advisor as I am only SHARING information directly from the IRS. This information discusses “Topic # 415 Renting Residential and Vacation Property”  There are multiple links to help you file in April.

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PA Property Tax and Rental Rebate Program

Fron Senator Stefanos weekly newsletter, “Older and disabled Pennsylvanians can apply now for rebates on property taxes or rent paid in 2021.

The Property Tax/Rent Rebate Program benefits eligible Pennsylvanians age 65 and older, widows and widowers age 50 and older, and people with disabilities age 18 and older. The income limit is $35,000 a year for homeowners and $15,000 annually for renters, and half of Social Security income is excluded.

After checking eligibility requirements, you can file your rebate application online by visiting mypath.pa.gov. Submitting your application online does not require you to sign up for an account. You can check the Property Tax/Rent Rebate Program instruction booklet to learn which information you will need to complete the process.”

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PA Homeowners Assisstance Fund

From the state weekly newsletter the PA Assistance Homeowner Fund, PAHAF, will begin taking applications Feb 1. PA was awarded more than $350 million in American Rescue Plan Act and supports Pennsylvania homeowners whose household income is at or below 150% of the area median income. See if you qualify!

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2021 PA Private Roadway Act 75

The quick back story is that there a ton of PRIVATE ROADWAYS in PA. When the sellers go to sell, the buyers financing was able to walk away from the transaction if there was NO agreement as to how the road was to be maintained. Now the GENERAL ROAD LAW – REPAIR OF PRIVATE ROADS AND DEFINITIONS Act 25 provides a minimum standard.

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FLOOD INSURANCE RISK RATING 2.0

October 1, 2021 Risk Rating 2.0 takes effect for NEW policy holders, APRIL 1, 2022 it takes effect for EXISTING policy holders. Check out the FEMA Flood Map Service Center web site for more details. At our state REALTOR Association meetings the presentation below shared some of the changes areound the corner.

PA Realtors_Flood Insurance Update_9.20.21

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PA Redistricting

Govern Wolf would like to hear from YOU on redistricting! Yes it is that time again! Here’s an opprotunity to let your voice be heard! Check it out here!

Map of Pennsylvania

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All information deemed reliable but not guaranteed. Copyright 2022.



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