Millionaire wants his house taxes cut by two thirds

[Newell Steamer]

Rich apologist cheerleaders who dismiss criticism of said rich that abuse the system, usually pass the blame on the system itself; Well, the system is screwed up!!

Now, we have this turd trying to manipulate said system; Well, he has every right to!!

Which is it ladies? Do we need reform on our tax system, or not? Make up your minds.

 

[BUnit1701]

Let me guess, you would start out asking $12 million and the person would counter offer $4-$5 million......opps, look like you will either not be making a sale or end up below your bottom line.

Holy shit!!! Anyone who opens with less than 50% of my asking price is going to be dismissed immediately. Haggling within 10-20% is acceptable, anything more is just bullshit artists stroking each other off.

 

[WackyDan]

He's trying to sell the house for $60m but get taxed at $10m. He has a right to ask but he's an asshole.

He is trying to increase the appeal of the property to prospective buyers who might not like the current amount of assessment.

His own damn fault for over building first of all. Secondly, even if he gets some tax relief you can bet your ass they won't lower the assessment by 2/3'rds. Just not going to happen. My bet is they lower it by a few million and call it a day.

 

[Victorian Gray]

Nice spread

http://www.dailymail.co.uk/news/article-2233196/Tycoon-Donald-Abbey-lists-SECOND-78m-home-month.html

 

[HeXen]

You don't see poor people doing this.

 

[CLite]

Really, I never ask less than 75% more than what I really want for an item.

You would list your house for 75% more than what you want to sell it for? That's honestly a very stupid way to approach real estate.

 

[dank69]

You would list your house for 75% more than what you want to sell it for? That's honestly a very stupid way to approach real estate.

It is frankly insane, but that's what conservatives need to do to keep their bubble from popping.

 

[Londo_Jowo]

It is frankly insane, but that's what conservatives need to do to keep their bubble from popping.

I guess you're another one that hasn't tried to sell antiques or a car. Hell, I got my house for 20% below the asking price and closing costs thrown in as well. Brand new house that was less than 3 months old.

 

[Genx87]

Rich apologist cheerleaders who dismiss criticism of said rich that abuse the system, usually pass the blame on the system itself; Well, the system is screwed up!!

Now, we have this turd trying to manipulate said system; Well, he has every right to!!

Which is it ladies? Do we need reform on our tax system, or not? Make up your minds.

Is reform in your world allowing the state to place a valuation on a property regardless of merit and the owner not have recourse?

 

[glenn1]

I bet he pays more in taxes than me too, what does that have to with him and his kind trying to not pay their fair share?

Nobody wants to "pay their fair share," hell that's the entire premise of the "collective action problem" progressives use to explain why they don't voluntarily pay higher taxes.

If this guy is actually successful in getting his tax bill lowered then feel free to be outraged, especially if it appears he got it done via shady means like bribing, <ahem> giving campaign contributions to politicians who intervene on his behalf. Otherwise all should STFU for doing exactly what literally every other taxpayer does.

 

[alzan]

Meh, the little "king" wants to have his castle but get his tax bill lowered; he could have chosen to live more modestly and not get socked with a six-figure tax bill.

Cry me a river.

 

[dank69]

I guess you're another one that hasn't tried to sell antiques or a car. Hell, I got my house for 20% below the asking price and closing costs thrown in as well. Brand new house that was less than 3 months old.

Well then I guess because you know how to negotiate that means you can throw out all kinds of ridiculous numbers and then act surprised when people call you on your bullshit.

 

[smackababy]

If I understand this article correctly, this guy did a bunch of additions to his house, the county raised his valuation, he thought it to be excessive and is protesting, all while paying the increased valuation taxes?

Can we change the title to "every homeowner, ever, wants to decrease their property taxes"?

 

[WHAMPOM]

I guess you're another one that hasn't tried to sell antiques or a car. Hell, I got my house for 20% below the asking price and closing costs thrown in as well. Brand new house that was less than 3 months old.

If the seller listed the home as you say you would, you got screwed.

 

[waffleironhead]

24000 square feet. Even if it was cheaply built at 100$/ft2 construction. Aka cheap condo builds, it would still be 24,000,000$ house. The around 200$/ft2 valuation sounds about right after seeing the pictures of the place.

 

[WHAMPOM]

Meh, the little "king" wants to have his castle but get his tax bill lowered; he could have chosen to live more modestly and not get socked with a six-figure tax bill.

Cry me a river.

Naw! He built it to sell, but as no one wants to buy at his price (over built for the housing bubble/over priced) he is crying about paying property taxes.

 

[smackababy]

Naw! He built it to sell, but as no one wants to buy at his price (over built for the housing bubble/over priced) he is crying about paying property taxes.

I was under the impression that additions don't add anywhere near linear to the value of the house. Similar with cars. No amount of upgrades significantly increases the value. I don't have any problem with this guy protesting the valuation, especially if the OP is correct and he is paying the property taxes on the new value while fighting it.

 

[glenn1]

I was under the impression that additions don't add anywhere near linear to the value of the house. Similar with cars. No amount of upgrades significantly increases the value. I don't have any problem with this guy protesting the valuation, especially if the OP is correct and he is paying the property taxes on the new value while fighting it.

Doesn't matter. The entire point for those on the redistribution side is that taxes are supposed to hurt the wealthy and he's trying to avoid the pain. That's completely regardless if facts and law are on his side or not.

 

[alzan]

Naw! He built it to sell, but as no one wants to buy at his price (over built for the housing bubble/over priced) he is crying about paying property taxes.

If he put improvements on it and thought he would make his money back when sold he thought incorrectly.

Maybe I'm doing it wrong but I improve things on my house that are either going to a) enhance my living experience or b) lower the overall cost of living in the home (i.e. install high efficiency furnace, windows); I don't improve thinking I'll make my money back or make a profit.

Taxes are a function the township/region your property is located within; they're always there and generally speaking the rates don't go down.

 

[bshole]

Doesn't matter. The entire point for those on the redistribution side is that taxes are supposed to hurt the wealthy and he's trying to avoid the pain. That's completely regardless if facts and law are on his side or not.

Damn straight brother.

 

[piasabird]

If you build a mansion that no other man can afford then good luck selling it. I say convert it over to a fishing lodge and make it a rental property and depreciate it every year. Operate it at a loss and claim the loss as a business loss.

 

[piasabird]

Make a one-time donation of the entire estate. Probably cheaper than paying the taxes. Make it parkland and let the forest reserve people rent out rooms, run it as a lodge and rent scuba gear, sailing and fishing boats, etc.

 

[piasabird]

just don't pay the taxes and let the county foreclose on the property.

 

[Fern]

24000 square feet. Even if it was cheaply built at 100$/ft2 construction. Aka cheap condo builds, it would still be 24,000,000$ house. The around 200$/ft2 valuation sounds about right after seeing the pictures of the place.

One of us has a broken calculator.

I get $2.4 mil at $100 per sq ft.

$4.8 mil at $200 per sq ft.

At the assessed value of $41.8 mil I get a sq ft value of $1,742. That's absurd.

Fern

 

[First]

I guess you're another one that hasn't tried to sell antiques or a car. Hell, I got my house for 20% below the asking price and closing costs thrown in as well. Brand new house that was less than 3 months old.

This isn't a car or antique for one, and two your example still doesn't make much sense; you'd be laughed at and would never sell your home if you were asking for 75% more than comparables in the market. You getting 20% below, btw, is still nowhere near your original figure. And your purchase was likely not an arms length transaction anyway i.e. probably distressed sale in distressed market or some other special circumstance.

One of us has a broken calculator.

I get $2.4 mil at $100 per sq ft.

$4.8 mil at $200 per sq ft.

At the assessed value of $41.8 mil I get a sq ft value of $1,742. That's absurd.

Fern

No one uses dollar/sq. ft with luxury homes, it's essentially pointless since the valuations for these places are far and away determined by the location, not the quality of the buildings or sq. footage.