3 Real Estate Tax Breaks

3 Tax Breaks to Take in 2009


The passage of the Emergency Economic Stabilization Act of 2008 (H.R. 1424) last fall extended several tax benefits for commercial properties.
April 2009
1. The 15-year straight-line depreciation cost recovery period for leasehold improvements placed in service after Dec. 31, 2008, has been extended through 2009.

2. Deductions for energy-efficient upgrades in commercial buildings (not apartments) have been extended through 2013. Deductions are up to $1.80 per square foot for buildings achieving a 50 percent use reduction.

3. The cost of environmental remediation can still be deducted rather than capitalized for property placed in service after Dec. 31, 2007; this is extended through 2009.

LyondellBassell Bike Around the Bay

LyondellBasell Bike Around the Bay 2009
will be held
October 10th and 11th.

LyondellBasell Bike Around the Bay is a fun, two-day, 150 mile bicycle ride around Galveston Bay
showcasing the natural beauty of the bay and benefiting the Galveston Bay Foundation.

Over 250 volunteers volunteered at LyondellBasell Bike Around the Bay 2007.
After Hurricane Ike interrupted the ride in 2008, over 350 volunteers rallied and helped create “Clean Up Around the Bay 2008,”
which benefitted Galveston Island State Park, Virginia Point Peninsula Preserve, and the Anahuac National Wildlife Refuge.

NOW WE NEED YOUR HELP AGAIN!

Currently, we need of groups of volunteers that are interested in coordinating a breakpoint.
Groups of 10-20 volunteers will help set-up, manage, and take-down rest areas where riders stop for drinks, snacks, bike support, etc.

Volunteers are needed from 7:00am-5:00pm with most shifts running 3-6 hours.

ALL VOLUNTEERS WILL RECEIVE A FREE LyondellBasell Bike Around the Bay 2009 T-SHIRT!

If you would like to participate, please send an e-mail to jmintzer@galvbay.org or call 281-332-3381 ext. 207 by August 21 and we’ll send you a registration packet.

Thank you! We hope you can make it!



--
Julie MintzerDirector of Community ProgramsGalveston Bay Foundation17330 Highway 3 Webster, TX 77598Office: (281) 332-3381 x 207Fax: (281) 332-3153www.galvbay.org

Galveston Home Sales Data

The chart above is taken from the Real Estate Center at Texas A&M University. The gray bars show the 2009 sales as compared to 2008 (blue) and 2007 (yellow). While we are not currently breaking any records it is obvious residential sales have increased tremendously in June as compared to the first 5 months of the year. Indications are July will fall short of June but there are still 6 days to go!

Galveston Real Estate Market shows improvement

The Galveston Real Estate market has shown improvement since April 2009. The chart below depicts the median price has shown a dramatic increase over the last 3 months.