I love these stories, but I always have to wonder...how do they pay the taxes on these gifts?
The government still allows tax-free gifts up to $11,000 per year per pair of individuals. I would be surprised if any of the individuals involved contributed more than that.
"...but I always have to wonder...how do they pay the taxes on these gifts?"
I always wonder the same thing. How does the family afford the increased property taxes as well as their mortgage. If they were struggling before the makeover, I would think the property taxes would end up driving them to sell the improved homes....I never had an answer to these wonderings....