On 11/7/07, Booth Martin <booth@xxxxxxxxxxxx> wrote:
Thats hardly the point, is it? Because they've been doing it wrong for
20 years, they should keep doing it wrong?
no, they shouldn't keep doing it wrong. but they shouldn't force
people to sell their homes at a loss getting it right.
There are so many problems with the way they did it. Many won't be
able to afford it, and won't be able to sell for what it was worth 6
short months ago. If they can't sell it for enough to pay off the
loans, it'll go into foreclosure. All of those will move away from
the city, lowering the tax base.
as I said before, how compassionate of you.
But more to the specific case: Is what you report factual?
http://news.google.com/news?hl=en&ned=us&q=indiana+property+tax+reform+&btnG=Search+News
I have been
through way to many of these reappraisals and the ensuing appeals
processes. The facts rarely support the outrages claimed.
the facts are as I said. the Indy Star did the groundwork (the
records are public) and determined that the average increase was in
the 30-40% range, with highs as much as 200%.
My
experience is that if you walk into the Tax office and ask for the tax
information, they will warn you if the situation you describe exists.
If they don't, and you get a $400,000 mortgage on a property appraised
at $85,000, then you have no one to blame but yourself. This is not
rocket science, nor unknown.
No, what's not rocket science is that if that's the way it's always
been, and every house sold in the area in the last 20 years was
assessed the same way, why wouldn't you feel like you could trust that
they won't change the rules on you? How about a plan to soften the
blow, by raising them incrementally over several years?
again, how liberal of you. tax the crap out of them, it's only fair.
It's their fault. They shouldn't be able to count on being able to
live within their means.
