Path: ...!eternal-september.org!feeder3.eternal-september.org!news.eternal-september.org!.POSTED!not-for-mail From: Dimensional Traveler Newsgroups: rec.arts.tv Subject: Re: The Gentrification Two-Step Date: Tue, 7 May 2024 18:00:08 -0700 Organization: A noiseless patient Spider Lines: 78 Message-ID: References: <396962196.736562742.794179.anim8rfsk-cox.net@news.easynews.com> <-uGcnd3QPstZQKr7nZ2dnZfqnPGdnZ2d@giganews.com> <79pf3j1quoc76an1r7vsp0l5p4scn9o9fi@4ax.com> <1491316379.736632923.638911.anim8rfsk-cox.net@news.easynews.com> <745927441.736649961.149688.anim8rfsk-cox.net@news.easynews.com> <601713259.736737755.782264.anim8rfsk-cox.net@news.easynews.com> <1889128212.736800925.092197.anim8rfsk-cox.net@news.easynews.com> MIME-Version: 1.0 Content-Type: text/plain; charset=UTF-8; format=flowed Content-Transfer-Encoding: 8bit Injection-Date: Wed, 08 May 2024 03:00:06 +0200 (CEST) Injection-Info: dont-email.me; posting-host="f9c2f286fc1c11663ea517e43f124c71"; logging-data="3747323"; mail-complaints-to="abuse@eternal-september.org"; posting-account="U2FsdGVkX195Nt4W4PzBfqgYjHojzBP2" User-Agent: Mozilla Thunderbird Cancel-Lock: sha1:M3IZy0CWOv+YuRqfGbrmCYyUN0I= Content-Language: en-US In-Reply-To: <1889128212.736800925.092197.anim8rfsk-cox.net@news.easynews.com> Bytes: 5580 On 5/7/2024 12:50 PM, anim8rfsk wrote: > The Horny Goat wrote: >> On Mon, 6 May 2024 18:27:30 -0700, anim8rfsk >> wrote: >> >>>> Well that depends. >>>> >>>> Now that I'm retired my income is WAY down though my assets haven't >>>> changed significantly (mostly on the assessed value of my house which >>>> keeps going up 3-7% per year) >>>> >>>> In other words income tax is down, property tax is up - but in our >>>> area we have 'tax deferment' where if you're 55+ you can defer the tax >>>> portion of your assessment (which also includes municipal utilities >>>> like water) at an interest rate about 1/2 of the prime rate. It's >>>> payable either when I keel over or when the house is sold. >>>> >>> >>> We don’t have anything like that. We have a county that arbitrarily sets >>> your property tax, depending on how much money they want to steal that year >>> and send armed policeman out to drag you out of your home if you don’t pay >>> it. But the beauty is I get no services from the county so it’s the perfect >>> swindle. >>> >> I mentioned an assessment authority - for us that's province-wide and >> does a good job MOST of the time though I've seen some outrages >> through the years. >> >> For instance the assessment is supposed to be based on the land value >> as of July 1st each year. One year our building got a 20% increase in >> assessment (while the newspaper was reporting average assessment >> increases were in the 3-4% range) and when I investigated it turned >> out to be due to a building sold 2 blocks away (which I didn't object >> to as the zoning and building type was similar) which sold at a price >> per square foot but in OCTOBER the previous year AFTER the date which >> allegedly the assessment was based on. >> >> Unfortunately we were not owners but in a "triple net lease" (which is >> the standard commercial lease in our parts where there's a single >> lessee in the building and means rent + taxes, insurance and >> maintenance) meaning that our landlord had no incentive to appeal an >> onerous assessment. After all - if he put the property up for sale his >> listing would be based on the higher price given "that's market for >> buildings in this area" >> >> Typically what municipalities do is total up the assessments by rate >> class (residential, commerial, industrial and a few more obscure >> classes) figure out how much they need to levy and work out a tax rate >> for each category per $1000 of assessed value. Some categories are tax >> exempt (public buildings like schools and parks) or other exemptions >> (typically churches but usually ONLY the church not the adjacent >> hall). Then there are some special cases like the church who had a >> large parking lot and happened to be adjacent to the hockey rink and >> on the edge of downtown - so they had paid parking 6 days a week, free >> parking Sundays and received a 1/7th tax exemption but paid on their >> parking revenue. >> > > Our valuations are based as near as we can tell on the average of sales in > the area. Last year we had that weird one month boom when the values of > homes literally doubled and then plunged down to about 2/3 of what they > started at. So my property tax went way up even though the value of the > house went way down. > > Oh, and they charge you a late fee “after May 1” > I paid it about noon May 1 and you guessed it. They charged the late fee. > > On the other hand, these stupid B&B party houses, which were what doubled > in value, they announced last night that the city is cracking down on them. > A LOT of cities are cracking down on the BnB type online short-term rentals. They cause a lot of problems for neighborhoods and cities. IIRC the entire state of Hawaii is working on outlawing them. -- I've done good in this world. Now I'm tired and just want to be a cranky dirty old man.