Posted on 04/05/2009 5:50:58 AM PDT by Zakeet
You guys got shoes? Braggarts! Lording them over everyone!
You mean like how the Chicago school system spent $67K on cappuccino machines?
Yeah. Another good example is how a judge ordered the city of Saint Louis (I think it was, I’d have to look it up) to spend as much on their urban schools as in the state’s most expensive schools. They bought olympic-sized pools, the latest computers, tore down and replaced the buildings.
The result?
The school still sucked and the students (raised to be whining, complaining miscreants and the inheritors of the “victim class mentality) damaged a lot of that expensive upgrade.
Some people choose to crap in their own bed. If they want to, fine, but don’t expect me to clean it up or to pay to have it cleaned up. Let them sleep in their own crap.
But what will happen is that the value of your neighbors houses will drop. If they try to get a line of credit, they will be told their house is worth less due to the foreclosure. If several happen in the neighborhood, their can be a substantial decrease. There were three foreclosures or distressed sales in our immediate neighborhood. Our house value dropped 35% when we went to get a line of credit a year ago. I'd hate to see the value today. You can say part of that is due to the market, but the market is down because of the flood of undervalued houses.
I have seen banks buy houses for $80k and sell them for $35. Some of them aren't trashed or missing plumbing, but just need updating.
Your county probably taxes for the previous year. This is common. The value you are being taxed on is a year or more old. I just paid half of my 2008 taxes the first of the year and will pay the second half in mid-year. The valuation was set in 2006 or 2007. So, if they were to lower the value now, it wouldn't show up in taxes until the 2010 tax bill, which you would start paying in 2011. At least that's how it works some places.
values go down, the rate of taxation goes up
the fix is in
the govt is a cruel landlord, too. try not paying yor taxes and see who owns “your” property
Oh yeah, it only makes sense that if the value of your home is less, the tax has to be less...
So — go for it — people.... :-)
although not as hard hit as the rest of the state, we went to 100% valuation to align with the rest of the county assessment system a few years ago and even though my taxable value went up, my actual tax bill went down. not much but down. i'm afraid it's the calm before the storm.
They use scare tactics, like we need to fund our schools, we need to fund our sherriff, we need to fund our tourism depts. etc.
I argued (at the hearing) that a responsive government would maintain the tax rate (thus lowered tax) and reduce spending like the rest of us.
But arrogance and the employ of emotional appeal prevails in government, locally and of course, nationally.
And it gets much scarier.
No one on this website, or anywhere, absolutely owns their home, regardless of the bank obligation. You own it in "partnership" with the government. Just try not to pay property tax and see who owns your house.
Consequently as the real value of one's home falls, and the government retains or increases the tax obligation, the equity portion (e.g. monthly obligation) assigned to the government increases, with police authority. So the extrapolated extreme is in effect, dare we say it, communism. The government garnishes your income to give you housing. This is even more insidious as government imposed land use and property restrictions increase. The government garnishes your income to give you housing of its determination.
There is obviously a middle ground concession, e.g. public facilities, but have we, in general, lost the judgement and spirit to limit it?
"The primary intent of Communism is abolition of private property." - Karl Marx, The Communist Manifesto (2nd Chapter I think).
Indeed - everyone has to tighten their belts, except government.
I’m retired and my stock market investments have dropped close to 50%.
And the income from my fixed income investments is also dropping as interest rates come down.
Looking at the tax returns for 2008 in preparation for filing, adding together state, local and federal taxes and then adding in sales tax and other taxes, the take is well over 40% of my net income. And this is in Virginia, which has “moderate” taxes compared with NY or NJ or MA or CA.
Jack
The result will be a lowering of the assessed valuation and an increase in the tax rate. In the end the tax will be greater.
Mandating the contraction of government spending is the only way to reduce taxes. We have a fat chance of that occurring.
Real estate taxes are assessed in arrears, the tax money due in 2009 is for the tax bill accrued in 2008.
Here in Arizona (and probably elsewhere) they play the same game with Senior exemptions. Only the increase in value is protected, not the rate. So . . .every year my taxes go up regardless of the economic condition of the area.
that is what they should do and vote the elected scum out of office.
File an appeal!!
LOL
IT IS posible to reduce GOvt spending.
TUSD - the large school district in Tucson - is laying off 650 employees, teachers, aids and other staff.
Why should Govt be the only organization in the US to miss out on the “hopechaneie” thing?
In our county our Treasurer is sitting on $900 million in unclaimed refunds. They just past a law allowing the refunds to expire if unclaimed. The process to claim them is you have to prove you paid them with a copy of the check, but they don’t count the fact that it is paid. If you have it escrowed you need to have the servicer prove it.
Now credit card companies and retailers don’t have this problem. If they were businesses they’d be in the sites of every SA in the nation. The goal of course is to keep the money. Stuff it tax payers.
I fight my assessment every time it comes. It is free, takes about ten minute and I’ll take even a couple of bucks off my legally thieved money.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.