Fannie Mae and Freddie Mac Ruled Exempt From Transfer Tax
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Fannie Mae and Freddie Mac are exempt from paying taxes on property transfers, a Washington appeals court ruled in the latest defeat for local governments that further weakens a bid to press their case at the U.S. Supreme Court.
Today’s decision is at least the sixth appeals panel which has ruled against local governments seeking to recover an estimated $1 billion in transfer taxes from Fannie Mae and Freddie Mac, according to Don Springmeyer, a Las Vegas attorney who has advised counties on many of the complaints.