Question about estate tax

[Ballygrl]

Also, I seem to remember, but I could be wrong on this, that this rich bastard recently petitioned to have his property taxes adjusted because of the decline in value of one of his homes... hummmm.. who could it be...

Don't forget he registered his Yacht in another State to avoid taxes in his own State.

[AllosaursRus]

People of the DU, does this person make you proud?

Of course he does! His real name has "Hussein" in it! if it ain't him, it;s sure as hell damn close!

ETA: forgot an "S"! I know, hard to believe when we're talkin' about the DUmp, huh?

[thundley4]

Not sure I follow you on this one, Thund. Are you sayin' the income you bought the property with was taxed, so when you pay property tax it's bein' taxed twice?

Your Income Tax pays for federal infrastructure. Property Tax, especially if you live in a state without an income tax, pays for local infrastructure. Two distinctly different taxes.

Property taxes aren't a one time deal. They get paid every year and in most cases go up every year. I know those taxes go to local governemnt services, but then there are also local sales taxes, and fees tacked onto every service provided to individuals.

[AllosaursRus]

Property taxes aren't a one time deal. They get paid every year and in most cases go up every year. I know those taxes go to local governemnt services, but then there are also local sales taxes, and fees tacked onto every service provided to individuals.

Well, it ain't like the roads you drive on to get to your property last forever, either! Especially in places like I live where ya have a full four seasons! freeze and thaw wreaks hell on 'em!

[thundley4]

Well, it ain't like the roads you drive on to get to your property last forever, either! Especially in places like I live where ya have a full four seasons! freeze and thaw wreaks hell on 'em!

I just wonder if taxes were the tipping point for many that file for bankruptcy or that were foreclosed on.  I know that the last year of our mortgage that the taxes were a large portion of it.  I almost miss being able to pay it monthly instead of being hit by the tax bill.

[AllosaursRus]

I just wonder if taxes were the tipping point for many that file for bankruptcy or that were foreclosed on.  I know that the last year of our mortgage that the taxes were a large portion of it.  I almost miss being able to pay it monthly instead of being hit by the tax bill.

Not sure about where you're at, but we can't include our taxes in Bankruptcy. The gubmint gonna get thier's no matter what!