Spokane sues Fannie Mae/Freddie Mac

Spokane sues Fannie Mae/Freddie Mac

Credit: Getty Images

The headquarters of Freddie Mac are seen October 21, 2010 in McLean, Virginia.

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by Associated Press

KREM.com

Posted on January 11, 2013 at 11:36 AM

   SPOKANE, Wash. (AP) -- The city of Spokane has filed suit against Fannie Mae and Freddie Mac, contending the corporations improperly claimed they were exempt from paying the state's real estate excise tax.


   The lawsuits were filed this week in federal court, and officials for the city claim it has been cheated out of hundreds of thousands of dollars.


   City Attorney Nancy Isserlis says that in the past four years Fannie and Freddie sold about 1,300 pieces of property in Spokane County and likely would have paid about $4 million in real estate taxes had they not claimed to be exempt. Most of the money would have gone to the state, but about $1 million would have been directed to local governments.


   Other media outlets  the case could have impacts across the state.

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