A bill in Utah aimed at requiring landlords to provide 60 days' notice for rent increases was rejected for the third consecutive year, with a tied vote in the House Business, Labor, and Commerce Committee. Supporters argued it would benefit renters, but the Rental Housing Association opposed it this year, citing concerns over contractual rights and market balance. Public support was expressed during the hearing, but some lawmakers worried about the implications for smaller landlords. The bill's sponsor expressed disappointment over its failure to progress.
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A recent survey by Envision Utah reveals that over two-thirds of Utah residents believe the state faces serious housing issues, yet many are unclear about the causes. Key factors identified include rising interest rates, construction costs, and an influx of new residents, while only 35% attribute the crisis to insufficient housing supply. The state anticipates a shortfall of 153,000 homes by 2030. The survey also highlights a preference for affordable housing for low-income families over starter homes for young families, indicating a shift in public priorities regarding housing.
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Owning a house in the US is expensive, with rapidly rising home prices and hidden expenses. However, tax credits and deductions for homeowners can lead to a bigger tax refund. Homeowners can take advantage of tax deductions by itemizing their deductions using Form 1040 Schedule A. Mortgage interest, mortgage points, and property taxes are some of the deductions available. Additionally, homeowners can claim tax credits for energy-efficient improvements and electric vehicle charging stations.
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