Mealey's Banking & Finance - 1st Circuit Finds Federal Entities Are Exempt From Paying Real Estate Tax

Mealey's Banking & Finance - 1st Circuit Finds Federal Entities Are Exempt From Paying Real Estate Tax

BOSTON - After finding that the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corp. (Freddie Mac) and the Federal Housing Finance Agency (FHFA) are excused from paying state and local taxes, the First Circuit U.S. Court of Appeals on Aug. 27 affirmed decisions issued by two federal courts to dismiss actions filed by municipalities that sought unpaid real estate transfer taxes (Town of Johnston v. Federal Housing Finance Agency, et al., No. 13-2034, 1st Cir.; 2014 U.S. App. LEXIS 16576).

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