Miami-Dade Sues Fannie and Freddie Over Transfer Taxes

by Isaac Benmergui, Esq on November 14, 2012

Harvey Ruvin, clerk of courts for Miami-Dade County recently sued Fannie Mae and Freddie Mac, alleging the government-controlled home mortgage finance companies had failed to pay transfer taxes when they assumed ownership of thousands of foreclosed homes and then sold them.

Fannie and Freddie may have improperly claimed exemption from transfer taxes, which equals 60 cents per every $100 on the value of each home.  Miami-Dade claims tax exemptions for federal agencies do not apply because they are actually private corporations.

This isn’t the first such lawsuit in the country against the pair. Bridgeport, Connecticut, Montgomery County, Ohio and Hernando County, Florida all have similar suits pending in federal court.

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