RUNNING OUT OF TIME: REASSESSMENT APPEALS Would you rent a home, pay taxes on it, put a roof on it and then if you had to move, say your mom was sick and you had to move to be closer to her, would you pay someone to move into that rent house? There will be closing costs even if there was no mortgage. Would you rent a house and decide that you wanted to fence the yard, change the dishwasher to a quieter one that was more efficient, put new windows on that rent house, etc? Would you go to your tax man and on his advice borrow money against your rent house to finance a car, pay off credit card debt, etc., then when your spouse loses his job, and you could not pay for the house, find out that you could not even sell the house because it was not yours? So, you had to have ruined credit, credit that you have taken care to keep perfect for twenty plus years? And, all the money you put into this rent house was lost? The American dream has been to be able to buy a home. Why? Appreciation. With that comes taxes and with appreciation comes an increase in taxes. Period. If you see that appreciation lost, you lose all around. Pay less in taxes, great. But at what cost? You are basically in a rent house. If you decide to sell that house, or if you are forced to sell it, your tax value will have a huge part in your asking price. It will have played a huge part in any past home equity you may have gotten. A home equity you may have used to buy a car, pay off debt, etc. And, that was a smart move. Home equities are tax deductible when the home is one of two owned. You can own two and use the interest on them for tax deduction, or used to be able to. I am not up to date on tax law. My point here is that CPA’s and bankers and so forth have encouraged us for years to do this. As a stock broker and banker, I have been in the group that has done this. Why pay high interest when you could use this great investment to save you money and take the tax break? Right? Now, here we are, in this pickle. How many of these home owners are upside down in their homes? How many of these people owe more than their tax value? Forced to sell, they would lose their ass. If you really feel like you are ok with your 100k house now being worth 50k just so you can pay $500 in annual tax vs $1000, you should rent. Period. And, that is in the city. In the county, we are talking paying 250, approx., vs 500. Really guys? Are you kidding me? That is on these figures. Most of you have your taxes escrowed and never feel it. But, your homes were appreciating, ever so slowly in this economy. Now, you want to lose everything? You have until June 28 to try to fix this. The tax guys have approved an entire neighborhood to be redone, Monticello Park. This is the ONLY one. I am incensed by this. Who lives there? I think that Vivian Burke does. I think that I remember her being cited as living there initially. I may be wrong, but I do not think so. But, they are only redoing homes over 1550 sq ft. I would not like that either. What if your house was 1540? Forsyth County seems to be sketchy to me. I want the feds brought in. Can I get an attorney to take a lawsuit? I will be a lead defendant. This is MY LIFE. I am over it. But, we need to fight. Why are you ok with them monkeying with your life and your money? All of us just sit back and let them take us into the city. Make us hook onto sewer lines, water lines, etc. We just bend over. I am done bending. Come on ya’ll! What do you not understand?
Posted on: Sat, 22 Jun 2013 17:58:59 +0000
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