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From: Dimensional Traveler <dtravel@sonic.net>
Newsgroups: rec.arts.tv
Subject: Re: The Gentrification Two-Step
Date: Tue, 7 May 2024 18:00:08 -0700
Organization: A noiseless patient Spider
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On 5/7/2024 12:50 PM, anim8rfsk wrote:
> The Horny Goat <lcraver@home.ca> wrote:
>> On Mon, 6 May 2024 18:27:30 -0700, anim8rfsk <anim8rfsk@cox.net>
>> 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.