Family’s home demolished in Michigan police standoff. ‘Ripped my entire house down’ [The family is innocent. A criminal had entered their home without their permission. So the police destroyed the home of the innocent family.]

yahoo.con ^ | November 11, 2021

[gspurlock]

We don’t know all of the circumstances. It was a terrible event caused by a criminal, but that doesn’t excuse the media for creating the impression that the occupants of the house lost their house due to police negligence or unnecessary violence. If they had renters insurance and some of their personal belongings were destroyed, they can probably be recompensed.

[Karl Spooner]

Doesn’t look like the family was allowed to retrieve any personal possessions either.

https://youtu.be/1bpAP937DEA

[Mom MD]

This situation is not covered by usual homeowners insurance - there have been other stories on people in similar circumstances. It is a total loss to the property owner

[Fightin Whitey]

I’m sure all the police who tore down the house are putting up her family in their own houses. They are such good people.

Yes, defund the lousy barsteds, right?

Damned straight!

[Svartalfiar]

Landlord has just gotten a total loss on his rental house. What is not covered by insurance will go on tax return. Business loss can go back several years so he might recover prior year taxes. If not, the loss carries forward against future profits.

Aren't such losses a deduction to income, not a direct tax credit? So all he's recovering taxwise is, at best, the loss times his maybe 20% tax rate. He still loses ~80% of the value.

Even if he can credit the full value, and not just deduct it, I doubt he has hundreds of thousands of dollars in recoverable taxes, plus loss of income during rebuild, plus time and effort, plus etc. Many landlords only own a couple properties, so his income may only be tens of thousands a year, so maybe a thousand or two in paid taxes yearly. Which means decades to recoup even a cheap $100M house.