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There is currently no estate tax, but Cheryl Hader, an estate lawyer, said in an e-mail message that "significant estates resulting from deaths in 2010, such as those of George Steinbrenner and Texas billionaire Dan Duncan, will undoubtedly attract significant scrutiny as to whether these taxes will be reinstated retroactively.
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Under the current program, known as 421-a, developers of new buildings in most neighborhoods are eligible for a 10- to 15-year exemption from the increase in real estate taxes resulting from the work.
Just for a moment, consider this possibility: that the destabilizing of US stock and real-estate markets resulting from the Federal Reserve's overly relaxed approach to setting interest rates may be at the root of both the Enron-style scandals and the attacks on the World Trade Center.
Unfortunately, the new episode of leveraged-buyout mania coincides with another huge debt accumulation resulting from the residential real estate bubble.
Most are so-called privately owned public spaces, resulting from changes to the city zoning laws that offered real estate developers concessions in return for such plazas.
A "The lawyer should pay all of the interest and penalties resulting from the late filing or payment of taxes," said Steve Troup, a Manhattan real estate lawyer.
For a time, consumers could keep buying -- using their credit cards or borrowing on the inflating equity in their homes that resulted from the real estate bubble.
With typical wit, he wrote, "The Tragedy of Kind Lear resulted from an excess of estate planning".
2. Real Estate/Personal Property Taxes - Taxes that result from home ownership, such as real estate and personal property taxes, are deductible.
The greatest consequences, however, resulted from the division of the de Clare estates.
But many also result from risky loans given to home buyers during the recent real estate boom, officials say.
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