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New Jersey simplifies tax relief process
New Jersey is set to streamline its property tax relief programs with a single application for seniors aged 65 and older, disabled homeowners, and mobile homeowners. This new form, known as the PAS-1, will replace previous applications for the senior freeze and ANCHOR programs, making it easier for residents to access benefits. Treasurer Elizabeth Maher…
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Digital advertising taxes: a coordinated approach needed
Bloomberg columnist Andrew Leahey emphasizes the need for states to coordinate their digital advertising tax strategies to prevent compliance issues for businesses. With states like Rhode Island proposing a 10% tax on companies earning over $1bn globally, the risk of a chaotic patchwork of regulations looms. Mr. Leahey warns that without a unified approach, smaller…
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House prices continued to rise in November
Home price growth slightly increased in November, exceeding the consensus estimate, according to the latest S&P CoreLogic Case-Shiller Home Price Index. The gauge rose 3.8% on the year in November 2024, up from 3.6% in October. New York again reported the highest annual gain among the 20 cities surveyed, with a 7.3% increase in November,…
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New home sales beat expectations in December
Sales of new U.S. homes ended 2024 on a high note in December, the Commerce Department reported on Monday, as customers took advantage of incentives from builders, leading to a second straight year of increased purchases. The annual pace of new single-family home sales accelerated 3.6% to 698,000 last month, reflecting a sharp advance in…
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Natural disaster losses hit record high
Economic losses from natural disasters in the U.S. reached $217.8bn in 2024, marking an 85.3% increase from the previous year, according to Aon. The figure is the highest since 2017, driven primarily by Hurricanes Helene and Milton, which caused losses of $75bn and $25bn, respectively. Liz Henderson, global head of climate risk advisory at Aon,…
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Deal terms remain attractive to private equity buyers – report
New analysis from SS&C Intralinks, using data from PitchBook has found that with private equity M&A deal activity still well below that of 2021, buyers continue to benefit from favourable deal terms. SS&C stated that “As more PE firms have expanded their investing scope into smaller niches of middle-market company ecosystems across the globe, the…
