Starting July 1 of this year, residents of Fredericksburg will see an increase of their real estate taxes along with their water and sewer bills.
On Tuesday, City Council unanimously voted to increase the tax rate from 77 cents to 80 cents per $100 of assessed value of real estate for fiscal year 2018. They also unanimously approved a 2% increase in the water rate and 4% sewer rate increase.
This tax raise is predicated to bring in about $1,185,000 in additional revenue which $790,00 of the increase will go towards the general fund for use by the city & city school system. The remaining $395,000 will go towards the city’s stormwater-management programs.
For more information please visit: Fredericksburg.com
Interested in seeing all that this beautiful lake community has to offer you? Have you been wanting to go out into the lake but don’t have the means to do so??
Let us treat you!!! Call Pat and John Licata today and take a ride on their boat to explore and tour the beautiful lake in Lake of the Woods.
There are always treasures to be found at the Lake of the Woods Fall Community Yard Sale! This year, the yard sale will be held on September 17th from 8 AM to 2 PM at the Community Center. To register, or for more information, please call the Community Center Office at 540-972-9680. It’s another beautiful day at the lake!
To see available homes in Lake of the Woods, click here!
By Pat Licata, REALTOR
One of my very favorite fall events, The Annual Art Show, sponsored by the LOW Visual Arts Council, is fast approaching! Held October 15th and 16th, this fun annual event allows local artists, both professional and amateur, to showcase their work and gives you the opportunity to take it home! Get ready to view works from artists of past years: Pete Brown’s oil paintings, Bob Gibson’s photos, Helga Birdsong’s floral arrangements, and my friend, Patty Bell’s, watercolors. Patty is also a swan enthusiast and has been my partner in a few swan rescues. If you’ve never seen her swan watercolors, you simply must…They are stunning! Nate Smith, who amazed us with driftwood sailboats last year, plans to expand his exhibit for 2016. Martha Manigross, a new resident who will be participating for the first time, creates wearable art and wall hangings.
Forms are available in the Holcomb Building lower level foyer and at the Community Center if you would like to participate. Please contact Jan Moore at 972-9355 or Sallie Wallace at 972-0412 if you have questions.
To view homes for sale in Lake of the Woods, click here! It’s another beautiful day at the lake!
There are many benefits to owning a home: A home is an investment that can earn equity, is often cheaper to buy than to rent, and is your own place that you can fill with wonderful memories.
But another great benefit about owning a home is the financial benefits that you can take advantage of during tax season.
Major Tax Breaks for Homeowners
Owning a home, and eventually selling it, can offer you opportunities for deductions on your taxes, and we wanted to outline the major tax breaks for homeowners today. Are you taking advantage of these tax benefits?
Available until the end of this year, homeowners who have installed solar hot water heaters, solar electric systems, wind turbines, or qualifying energy-efficient home improvements can take a tax credit as part of the Residential Energy Efficient Property Credit.
The credit is for 30% of the cost for these energy-efficient home improvements.
Deduction for Property Taxes
In addition to deducting your mortgage interest, you can also deduct the annual taxes you pay on your home’s value, called real estate taxes.
Deduction for Capital Gains
If you have used your home as your primary residence when you sell, you can exclude up to $250,000 in capital gains from the home sale on your taxes (or $500,000 if you are married filing jointly).
To learn what other tax benefits you may take advantage of, visit the Credits and Deductions page on the IRS website or read this MarketWatch article about other tax breaks for homeowners.
Let Us Help You Find the Perfect Home
If you have been considering buying a home in Lake of the Woods or elsewhere in the area and are ready to start your search, we can help you find the perfect home that falls within your budget and provide you with helpful real estate resources to make the journey to homeownership as smooth and enjoyable as possible.
Contact us today at 540/735-7998 and let’s talk about your goals for owning a home.
Until next time…It’s another beautiful day at the lake!
Pat Licata – Realtor
by Pat Licata-REALTOR, Licata on the Lake, Lake of the Woods The Lake of the Woods Association is the proud recipient of the 2015 Central Virginia Chapter Community Associations Institute’s “Community Association of the Year Award” for very large scale associations of 1,000 units or more! The award is designed to recognize community associations in the Central Virginia area that are excelling in all facets of their operations.
LOWA General Manager, Phil Rodenberg, stated, “It is a team effort of members, Board and staff to win such an award. So here’s to our talented, dependable LOWA employees who are working behind the scenes in big and little ways to serve the membership of our one-of-a-kind community.”
Current LOWA Board of Directors are Louisa Rucker, President; Mike Rugless, Vice President; Leighton Cumming, Secretary; JoAnn Zwickl, Treasurer; Jim Hutchison; Larry Moreland; and Nigel Goodwin.
As recipient of this award, our association serves as an example for the community association industry and encourages the educational and professional growth of community associations.
What an honor! Congratulations to all!!!
Aerial Video Tour of Lake of the Woods, Virginia! By Pat Licata REALTOR Discover the beauty, serenity, and breadth of Lake of the Woods, VA with this aerial video tour! https://www.youtube.com/watch?v=TM404xV8ogo
