Angels Camp Bypass Construction to Commence

By John Hamilton thepinetree.net

Angels Camp, CA

Calaveras County Council of Goverments Director, Timothy J. McSorley has announced that the construction phase for the New Angels Camp Bypass will begin on April 14, 2008. All right of way issues have been resolved and should be wrapped up soon. The first phase will be construction of the bridges. Once the bridges have been completed then the focus of construction will shift to the roadways.

This project has taken almost 30 years to get to this point. Once it is completed it should have numerous benefits to the area. It will speed the flow of traffic up and down to Murphys & the High Country and it will also allow for enhancements to downtown Angels Camp. With the reduced through traffic the historic area of Angels Camp can focus on becoming a shopping and tourist mecca. The City has already held several meetings and hired an outside consulting company to guide them on the best steps they can take make the area even more alluring.

Good Tax News for Vacation and Second Home Owners

Revenue Procedure 2008-16 - Safe Harbor for Exchanges of Vacation Homes and Conversions to or from Personal Residences

This revenue procedure, which will be effective for exchanges occurring on or after March 10, 2008, establishes a safe harbor regarding when a vacation home can be considered investment property and traded in a 1031 exchange. The ruling states that a vacation home qualifies for a 1031 exchange if the investor owns the home for at least 24 months, rents it for at least 14 days for each 12-month period, and uses it no more than the greater of 14 days per year or 10 percent of the number of days during the year that the home is rented. These requirements apply to both the relinquished and replacement properties.

For purposes of this revenue procedure, a vacation home, also called a "dwelling unit" in the Revenue Procedure, is real property improved with a house, apartment, condominium, or similar improvement that provides basic living accommodations including sleeping space, bathroom and cooking facilities.

Read the IRS Procedure and consult your Tax Professional
Rev. Proc. 2008-16 on Safe Harbor for Like-Kind Exchange of Dwelling Unit

Featured Property: Quaint Fieldstone Home

237 Fieldstone Drive, Murphys CA 95247
MLS: 080163
Price: $399,000
Many Great Features

Happy Presidents Day Weekend

Enjoy the Presidents Day weekend!

Snow Removal Story From The PineTree.net

Arnold, CA...The Calaveras County Public Works Department really did a great job over the last wave of winter storms. With the low snow levels their crews were spread from Tamarak all the way down to and below Murphys for a long, long stretch of days. One of the great new additions the last couple of years is the new small snow blowers they have been using to clear the residential neighborhoods.

The difference between the blowers and the old road graders is comparable to a surgical knife vs. a sledgehammer. With the small blowers they can position the output so it doesn't fill up the driveway that the owners worked so hard to clear. They are also much less destructive to the roads and property.

The crews are owed a debt of thanks as well. They worked tirelessly for days and days to stay ahead of the storms. They drove and worked in very cold and wet conditions for days on end. Sometimes it seems we look at our county government as a glass half empty. This time the glass was clear full. Great job Public Works!!

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