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Advisor

Developments and rulings for beleaguered landowners to watch

Could create precedents

 

There would need to be a surge in discounted sales, but could get someone in ahead of the slow moving/lagging  evaluation process:

 

https://mobile.twitter.com/PatcohenNYT/status/1081947129332068352

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4 Replies
Veteran Advisor

Re: Developments and rulings for beleaguered landowners to watch

How would this work?  The taxation authorities would want to see all financial records.    That would then be public knowledge, I suppose.  

 

Maybe a new branch of the Assessor's Office would need to be staffed to consider landowners wanting to reduce property taxes.  That would require more funding for the extra staff and I suppose new taxes.

 

You're probably right.  BTO would appeal taxation, get some relief, and the upshot would be everyone's taxes would go up to pay for the process, but BTO not so much.

 

Probably a good tactic.  I think I wrote that with tongue not in cheek but am not sure.

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Honored Advisor

Re: Developments and rulings for beleaguered landowners to watch

great topic...... and going on in one form or another across the country.... Property tax ballooning and local economics reducing......

 

I am caught in a cousin of this process     Buying houses for rent...... Does that make sense?  When property taxes and insurance on a small home can approach $580 per month........ why own a house when you can rent appartments for  $750.

 

Your in trouble when the residents and workers in a community don't want to invest in that same community.

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Veteran Advisor

Re: Developments and rulings for beleaguered landowners to watch

SW  -  your  statement  ( last line )   speaks   volumes  -   20  words  in  place  of  the  picture  -   -   - 

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Advisor

Re: Developments and rulings for beleaguered landowners to watch

Through in for good measure the new wind farms. The state of Kansas has given them tax exemptions, which are lifetime. That's serious cash. Most have one time lump sum payouts up front in mlm lieu of annual payments.
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