February 5, 20223 yr 1 hour ago, Mike030270 said: People who think like that are definitely renters who don't pay taxes
February 5, 20223 yr 9 hours ago, iladelphxx said: People who think like that are definitely renters who don't pay taxes This confuses me. Explain.
February 5, 20223 yr 4 minutes ago, paco said: This confuses me. Explain. People who don't want property values to increase
February 5, 20223 yr 6 minutes ago, iladelphxx said: People who don't want property values to increase Property taxes and property value isn't tightly correlated. Mostly because assessments aren't done annually. For example, using fake numbers (and roughly accurate ratios), when we bought our beach condo it cost us $100 and the property taxes were assed at a value of $250, before the real estate crash and hurricane sandy. We challenged them and got tax assessment down to $120. We sold it last August for $200 (due to a combination of the market and the improvements we made) but the taxes stayed at the assessment of $125. This didn't stop us from raising the rent. (We did short term rentals). Additionally we are renting out our old townhouse to a young couple for X amount. Five years from now our property could be worth more due to the market, but it's likely that we will keep the rate there if they are still there and good tenants. So.... 6 minutes ago, iladelphxx said: People who don't want property values to increase Owners are the ones who care about the taxes, not the people who rent them. It's coming out of their pocket.
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