Posted on 05/14/2018 11:28:59 AM PDT by doug from upland
Presto!
Your house is now assessed at $10,000,000.
See how easy that was?
Now cough up your fair share.
If I'd had brains when I was younger, I would have stayed and would probably be retired by now.
That got me laughing!!!
Let’s do some simple math. If you earn $1,000 a month rent on a $250,000 house your return is 4.8%. An extra expense of $2,500 means the value of house has to drop over $52,000 in order for you to earn 4.8% on your money. (($9,500/.048).
It doesn’t have to drop this much because there is a FIT tax benefit but the decrease is pretty significant.
A $500,000 home would be worth a lot more with a 3% tax rate than a 5% tax rate.
The only solution is to renegotiate pensions
I strongly disagree, all it would take is 1 AG with balls to declare the Contracts Null and Void due to Fraud, then release enough evidence to demonstrate that every last public official supposedly negotiating on the Taxpayers behalf was accepting Campaign Contributions and Bribe money from the very people they were negotiating against, demonstrate using third grade math that these fraudulent contracts can NEVER be fulfilled, they are a Mathematical Impossibility, CONFESS and throw yourself on the Mercy of the Court.
They have to change the state constitution. It will take a revolution to do that. The time is coming and it will be glorious.
I nominate you as our lead negotiator lol.
Try the Islamic solution.
Map out EVERY Govt worker.
Burn their cars.
Try the Islamic solution.
Map out EVERY Govt worker.
Burn their cars.
Let’s do some simple math. If you earn $1,000 a month rent on a $250,000 house your return is 4.8%. An extra expense of $2,500 means the value of house has to drop over $52,000 in order for you to earn 4.8% on your money. (($9,500/.048).
It doesn’t have to drop this much because there is a FIT tax benefit but the decrease is pretty significant.
A $500,000 home would be worth a lot more with a 3% tax rate than a 5% tax rate.
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What is a FIT tax benefit? Do you mean Federal Income Tax Benefit?
If so and if this assessment were to be allowed in the deductible amount, isn’t there now a $10,000 limit in property tax deductions of Fed Inc. Tax?
I would guess that a $500,000 house would already exceed that $10,000 limit in local property taxes.
Sorry, the FIT benefit is the deductibility of the property taxes, Good point on the $10,000 limit. I am not anywhere near that level so hadn’t thought of it. The various caps on tax laws make it so complex to figure things out.
My main point was a 1.0% tax has a large impact on values
particularly in a low interest rate environment.
good point...just trying to understand the issue...amazing how complex things have gotten don’t you think?!
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