posted on Jul, 14 2012 @ 09:37 PM
Originally posted by SLAYER69
reply to post by jude11
S & F
Thanks for posting this thread. Quite an eye opener.
My taxes at the time of purchase were approx. 3,000/yr but after I put in a lawn and painted the building I was assessed at 10,000 for the next
year...Because of IMPROVEMENTS and the value increasing as a result! My work, sweat, blood, tears and cash but I have to pay for permission to make MY
PROPERTY more appealing? All that and not even on the town water or sewage? Go figure.
To be fair.
"value increasing" is not necessarily a bad thing. I sold Real estate for little over 8 years, that supposedly means your property value has gone up
as well if you ever choose to sell said property. You were assessed for higher taxes based on your new home improvements which you should also be able
to get some credit for in tax write offs as home improvements etc ...
But, I agree, It's a double edged sword.
slayer, here is the problem with that thinking. The house did NOT go up in value, they only "said" it did and as a result of their declaration more
is owed. The king used to do this when he needed more money, "just asses the land again!"
Here is an analogy that may help. what if the IRS came you your house and said, "slayer, you're fit, smart, working well enough, but I think you
can, can, earn about 20 percent more income if you worked harder, so we're adding a 20 percent surcharge because you are capable, capable, of earning
Asking price = nothing. Appraised value = nothing. Sales price is the ONLY actual value that can be measured. But since you don't own the land, you
have no choice in the matter, you have to eat ^&%@ just like the say because they own the land. If this guy goes to sell his place and it sells for
less then the city claims it is worth, does he get a rebate?
The part of this that bothers me is I can't figure out how owing 500 dollars in taxes means you give up all value in the home. If the house owes
back taxes and is sold, then the ONLY money anyone other then the owner is entitled to is the 500 dollars. But all liens entitle the lien holder to
keep it all. Scum.