Millionaire wants his house taxes cut by two thirds

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boomerang

Lifer
Jun 19, 2000
18,890
642
126
Give him the 2/3 tax break, then go out and demo 2/3 of the fucker's house and take away 2/3 of his property. Cut his boat in half, plus a little extra, to equal about 2/3. Fuckin rich people jesus Christ.

"Well hello. I own an island with a two part mansion. I want more money"
There's the ol' progressive one-two punch. Put you guys in uniform with some black shit-kicker boots and you'll turn this nation around by force if necessary.

Envy is one of the seven deadly sins.
 

nk215

Senior member
Dec 4, 2008
403
2
81
Assessment amount for tax purposes is not the same thing as assessment amount for selling/buying/insurance purposes. In PA at least the tax assessment is a small percentage of the assessment for selling/insurance.

Furthermore, a large part of the property tax is for public education system. I have no doubt that this guy's kids do not get any benefit from that portion at all.

He's most likely the giver for all his life (vs the takers). Many people leech of his wealth. To those people his fair share is everything.
 

Fern

Elite Member
Sep 30, 2003
26,907
173
106
Well the article says he's been paying taxes under protest since 2012;

"Abbey argued appraisers for the state over-valued the property because they compared it to similar properties outside the state, but they did not lower the value after taking into account the property is in Montana."

I don't know how property is supposed to be assessed legally in Montana but that's probably the sticking point.

That's absolutely absurd.

No one's ever heard the phrase regarding real estate value is "location, location, location"?

Either Montana has some really weird rules or this guy should go to court. (As to the court option, my state has strict rules. You must follow the valuation appeals process strictly or you are prevented from seeking relief in court. It might be missed some deadline etc. and must until the next valuation period to get to court.)

A real estate comp based on properties in another state? LOL.

Fern
 

nageov3t

Lifer
Feb 18, 2004
42,816
83
91
property taxes piss me off... should be taxed based squarely on the size of the lot assuming it's only a 1-family private residence that's on it.

why should the town give a shit if I install central air or remodel a bathroom? if that raises the value of the home, they'll get theirs when the house is sold.
 

piasabird

Lifer
Feb 6, 2002
17,168
60
91
The local oil refinery did the same thing. They said they would close their company if the taxes were not reduced. He should advertise his house for corporate events and weddings and maybe a private sailing club. Just try to make enough to pay the taxes. Build a boy scout camp.
 

piasabird

Lifer
Feb 6, 2002
17,168
60
91
I was just thinking he should convert the house to the headquarters for a his own church and ask for an exemption for religious reasons.
 

nageov3t

Lifer
Feb 18, 2004
42,816
83
91
The local oil refinery did the same thing. They said they would close their company if the taxes were not reduced.

a local factory near me did the same thing... when the town balked, he fired everyone and the lot is now an empty patch of grass.
 

halik

Lifer
Oct 10, 2000
25,696
1
0
He's trying to sell the house for $60m but get taxed at $10m. He has a right to ask but he's an idiot.
Fixed.

I'm assuming he paid around $10M for the island property and is trying to claim no improvements.
 
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bshole

Diamond Member
Mar 12, 2013
8,315
1,215
126
More on the home:
Since none of you bit on the initial price for a home near Rollins that’s been on the market since 2012, the asking price has tumbled by nearly 24 percent.
Now you can pick it up for a mere $59.5 million, instead of the initial asking price of $78 million.

We’ll wait a moment while you go grab your checkbook.
It is, according to the Beverly Hills firm that has the listing, “currently the largest private home in Montana.”

At the same time Abbey listed his Flathead vacation home in 2012, he also put his 34,000-square-foot California home on the market for $78.8 million.
Evidently he is downsizing.

“He did not build them to sell them, but maybe he’ll look for something a little smaller, like 20,000 square feet,” his broker, Don Hurwitz, said in an article carried online by Forbes and Zillow in 2012.

The Bradbury Estate, located in the foothills of the San Gabriel Mountains outside Los Angeles in the affluent community of Bradbury, has also recently had its price reduced, to $68.8 million.

It has seven bedrooms, 10 baths, six fireplaces, 40-foot vaulted ceilings, a 10-car garage with a 6,700-square-foot guest house above it, a huge infinity pool that takes 350,000 gallons of water to fill, a 15-person Jacuzzi and a temperature-controlled trout pond with a two-story waterfall. The estate includes eight acres enclosed inside a stone wall that took three years to build by hand.

Horwitz said it took Abbey several years, and more than $200 million, to build the two mansions. A single Italian marble fireplace in the Bradbury Estate alone cost more than $1 million.

http://mtstandard.com/news/local/it...cle_538ab568-f308-11e3-86df-0019bb2963f4.html
 

cabri

Diamond Member
Nov 3, 2012
3,616
1
81
property taxes piss me off... should be taxed based squarely on the size of the lot assuming it's only a 1-family private residence that's on it.

why should the town give a shit if I install central air or remodel a bathroom? if that raises the value of the home, they'll get theirs when the house is sold.

How does a municipality "get theirs when the house is sold"?

Most do not collect sales taxes - they rely on property taxes and/or state funds distributed downward.
 

inachu

Platinum Member
Aug 22, 2014
2,387
2
41
One way around getting taxed so much is to just build a house secretly where nobody ever goes to.

If nobody know then nobody gets hurt.

When I was a lil boy I imagined great James Bond types of homes living underground where nobody can find me.
 

cabri

Diamond Member
Nov 3, 2012
3,616
1
81
One way around getting taxed so much is to just build a house secretly where nobody ever goes to.

If nobody know then nobody gets hurt.

When I was a lil boy I imagined great James Bond types of homes living underground where nobody can find me.

Permits are usually required for some work.

If permits not pulled and are required; then if ever needed to sell; there becomes a serious issue.
 

trenchfoot

Lifer
Aug 5, 2000
14,682
7,181
136
I can see the logic where he has the right to appeal, and the resultant "why not give a try?". Fine by me.

But there's also this thing about building these huge estates for seeking status, for impressing everyone around you with the success you've had in accomplishing the American dream. But now, after spending tens of millions of $$$ building those monuments of self-aggrandizement to feed the ego and sense of self-worth, this guy is going to scream bloody murder over a measly six figure tax assessment? Where's the parity in this? Shouldn't he, after spending umpteen millions of $$$ building his ultimate "blowing away the Jones-es" temple of self-esteem actually be proud of how much he has to pay in property taxes?

So he goes up against a salaried tax assessor who, purely out of spite, never lets a tight-fisted multi-millionaire weasel out of paying his "fair share" of property taxes. A guy who works for a municipality that can't ever get enough revenue to pay a decent gov't salary, and this uber rich guy that wants to flaunt his wealth but not pay the piper for it thinks he can actually throw down a hissy fit/pity party and catch a break?

Better to grease the skids with payola at the more corruptible higher pay levels via campaign donations like every other iconic conglomerate magnate does.

Either way, pay the paltry luxury premium into the coffers of the municipality or the campaign chests of the guy(s) who can make things happen on the down low.

No one gets a free ride except the folks who get to make the rules that exclusively benefit themselves at everyone else's expense. This guy apparently hasn't reached that level of opulence yet.

This rich guy who is used to having things his way is either ignorant in the ways of properly corrupting the right folks or arrogant enough to think he can fight city hall and bend the bureaucratic behemoth to his will.

Good on him if he gets his way, as other tightwad up and coming billionaires of the future will surely learn from his experience and attempt to travel the same path toward beating the system.
 

Fern

Elite Member
Sep 30, 2003
26,907
173
106
-snip-
When I was a lil boy I imagined great James Bond types of homes living underground where nobody can find me.

Ha. I'm close to retirement age and I still fantasize about that.

Fern
 

JMapleton

Diamond Member
Nov 19, 2008
4,179
2
81
OP: I'm not sure what the correct value is, but keep in mind, in most places in the US, assessed value is based on market value not construction value. You can build a super huge house for $100m but if no one will give you more than $1m for it, then it should be assessed at $1m.

But then again, it's dmcowen, why do I even bother responding?

Half of Americans pay no Federal tax at all, they're the ones who should be paying their fair share. This guy paid more taxes last year than everyone else in this thread combined. So who's not paying their fair share?
 

Jimzz

Diamond Member
Oct 23, 2012
4,399
190
106
OP: I'm not sure what the correct value is, but keep in mind, in most places in the US, assessed value is based on market value not construction value. You can build a super huge house for $100m but if no one will give you more than $1m for it, then it should be assessed at $1m.

But then again, it's dmcowen, why do I even bother responding?

Half of Americans pay no Federal tax at all, they're the ones who should be paying their fair share. This guy paid more taxes last year than everyone else in this thread combined. So who's not paying their fair share?

Just because you, and right wingers, keep repeating it does not make it true.
 

glenn1

Lifer
Sep 6, 2000
25,383
1,013
126
Just because you, and right wingers, keep repeating it does not make it true.

Yeah, we know that all those regressive taxes you guys love so much like gasoline, alcohol, telephone, airline travel, etc. ensure that the lower class doesn't get out of getting their wallet lightened by Uncle Sam.
 
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