Agreed. It recently occurred to me - what if your house or condo was assessed a property tax so exorbitant no one could ever pay, entirely divorced from its value with no way to appeal. You would lose your property. This could easily happen. Surprised it hasn’t already.
Agreed. It recently occurred to me - what if your house or condo was assessed a property tax so exorbitant no one could ever pay, entirely divorced from its value with no way to appeal. You would lose your property. This could easily happen. Surprised it hasn’t already.
I actually saw something recently about this in the news. The tax assessment of property was higher than the property owners could afford. I think it was in Colorado? My neighbors and I have been celebrating how the prices of homes in our area have skyrocketed without realizing that now the tax man can assess our properties for more taxes.
Simply a variant of eminent domain, IMO. And I have been of mind that property owned by you, but highly desireable to say, Mr. OBma, would become of a sudden, heavily taxed. Don't know how such could be arranged without the whole tax community being re-assessed, but.....I have property where perhaps 20 years ago, by-law was passed regulating growth on shore: no building within 75 ft of shore (existing properties grandfathered), and no existing building increased in size by more than 50%. When I am standing at the kitchen sink doing dishes, I look out over a mansion where a cottage had stood--said cottage expanded after this by-law was changed. How many pieces of silver greased the gypsy's palm, I continually do wonder. Or perhaps, the path to the state legislature was eased for a resident of same town.
Agreed. It recently occurred to me - what if your house or condo was assessed a property tax so exorbitant no one could ever pay, entirely divorced from its value with no way to appeal. You would lose your property. This could easily happen. Surprised it hasn’t already.
I actually saw something recently about this in the news. The tax assessment of property was higher than the property owners could afford. I think it was in Colorado? My neighbors and I have been celebrating how the prices of homes in our area have skyrocketed without realizing that now the tax man can assess our properties for more taxes.
Simply a variant of eminent domain, IMO. And I have been of mind that property owned by you, but highly desireable to say, Mr. OBma, would become of a sudden, heavily taxed. Don't know how such could be arranged without the whole tax community being re-assessed, but.....I have property where perhaps 20 years ago, by-law was passed regulating growth on shore: no building within 75 ft of shore (existing properties grandfathered), and no existing building increased in size by more than 50%. When I am standing at the kitchen sink doing dishes, I look out over a mansion where a cottage had stood--said cottage expanded after this by-law was changed. How many pieces of silver greased the gypsy's palm, I continually do wonder. Or perhaps, the path to the state legislature was eased for a resident of same town.
When they can't raise the tax rate any higher, they raise the appraised value of your house. 🤷♀️ This is currently happening in my county.