Comments on: Local Government Tax Woes Could Worsen

By: Mr. Watcher

Mr. Watcher — Sun, 03 May 2009 13:19:47 +0000

Many times renter do not pay any real amount of money in property taxes in their rent because smaller units get charged property taxes by the amount of money that the rental units bring in. Cash flow is the key for property value in commercial real estate. Which is going to cause a commercial real estate crash very soon. The properties are not bring in the needed amounts of cash flow to warrant the current values. So the banks will get them back or the owners will take a beating unloading them. Once that happens the value of the property for tax reasons will go down.
I’ll not get into how apartments and trailer courts consume far more taxes in government services/cost than brick and mortar home. Yes the property taxes on such are far lower than the free standing family home.
Again another case of class warfare for everyone to see as an example of the thought process of statesman readers who dope down the public with government propaganda.

By: ericn1300

ericn1300 — Sun, 03 May 2009 01:19:36 +0000

Mr. Watcher when you say “only property owner(s) should be allow to vote on such issues” I submit that you are being ignorant at best, and possibly a bit arrogant.

Renters DO pay property taxes, by proxy, but have little or no representation under the current system.

By: Mr. Watcher

Mr. Watcher — Sat, 02 May 2009 18:23:59 +0000

Paul, above is a classic example of “Class Warfare”. Never mind that the people he calls “fat cats” have been paying a lot of taxes and get no extra services for all the loot collected by local governments. Never mind that, those “fat cats” bused their butts getting an education and busted their butts again on the job after getting that high dollar education. Its not like someone gave them free money to buy their homes. The reverse angle could be said about low income folks. Because they are lazy and didn’t put out at an education because they were too cheap to suck up tens of thousands of dollars in student loans. And didn’t make something more of themselves they cheated the tax base by no paying their fair amount. This works both ways.
If a homeowner pays $10,000 a year in property taxes and the next slob a few blocks over pays $1,000. Thats a rip off to the other slob who pays more because that slob doesn’t get 911 any faster or extra services. In fact that home owner pays more state income taxes and of course spends more and pays more in sales taxes. So who’s getting the best deal, pay little to nothing and get full services like a millionaire.
There is an answer to this if we are going to keep taxes on property in place. We need to have a flat property tax no mater the value on any home on five acres or less if the homeowner lives at that home.
Along these lines if there’s a vote on property taxes, only property owner should be allow to vote on such issues. Why should some punk kid at BSU who lives in a dorm or and apartment that their folks pay for. And the kid hasn’t had a job ever and has never paid one red sent in income or property taxes. Only to walk and then move to someplace else. Leaving hard working Idaho families to do with out because they are hard hit with property taxes.
Nevertheless, the parasites in government are artist at creating Class Warfare to get the useful idiots and their dumb down votes to stick it to the “fat cats”.
I’m sure the useful idiots have never thought that if this states keeps hammering folks that have money those people will vote with their feet and move someplace else. Want to see how fast the economy can suffer when a lot of money is moved to someplace else. Take a look at CA and the mess the parasites created in that state.

By: paul

paul — Fri, 01 May 2009 20:37:44 +0000

People with the starter castles are going to reap a windfall in this mess. People on the bottom end are going to get to suck it up.

It goes like this. Tax dollars collected will remain neutral with a 3% growth in taxes collected allowed by law. Starter Castles are down as to as low as $0.30 on the dollar they sold for in 2006. The unwashed masses with their $150k domiciles will incrementally get stuck with paying more taxes on a lower valued home.

The levy rate will be based on net taxable value and the fat cats at the top will enjoy the greatest amount of decreased net taxable valuations. People at the bottom will realize this when they get their tax bills and they have gone up dramatically this Fall.

By: Realtor Dude

Realtor Dude — Fri, 01 May 2009 17:05:59 +0000

Tom,

I don’t know about the ratio of distressed sales to total home sales, but in 2006 the number of homes that sold in Ada and Canyon county was less than 1300. That includes new, existing, mobile, condos, the works.

This January, the number was about 380. Lower for sure, but a decline of substantially less magnitude than your realtor is suggesting.

By: JIMV

JIMV — Fri, 01 May 2009 15:39:03 +0000

Tom, I was in the process of refinancing BUT, the value has fallen just enough t reduce my equity enough to preclude a refi but not far enough to qualify for any Obama free money…so every month my payment is about $140 more than it needs to be…

By: Tom Anderson

Tom Anderson — Fri, 01 May 2009 13:52:19 +0000

CORRECTION: The drop in sold homes was more like 80% to 90%, and the homes in distress sales are in the 31% to 46% range.

By: cathy

cathy — Fri, 01 May 2009 01:08:20 +0000

In California, the banks are destorying homes, just to not pay fines ….

http://www.youtube.com/watch?v=ZsgOaCZ2Lag&annotation_id=annotation_456017&feature=iv

By: Tom Anderson

Tom Anderson — Thu, 30 Apr 2009 23:32:59 +0000

My house first listed on the MLS for $460,000, a few months later we took it down to $390. Just yesterday we marked it down to $325,000. I am going to get a new tax appraisal or die trying. Seems like property values have started dropping like a rock.

My realtor told me that in my section of Boise there were 4060 homes that sold in Jan 2006. In Jan 2009, only 46 sold!

She also said that in the lower price range, over 46% of the homes are in foreclosure.

No wonder we’re not hearing any local real estate news anymore.

By: Robert

Robert — Thu, 30 Apr 2009 19:02:00 +0000

Wasn’t there a tax revolt somewhere in California a few years back. Everyone refused to pay there property tax and they bankrupted the county. Then basically started over. Hummmmmm wonder how that came out?