OT - Extreme Makeover Home Edition?
Swingman wrote:
: Giving some poor schmuck a new mansion ("new" has a $pecial connotation to
: the appraisal districts) and then sticking him with the property tax/utility
: bills that go with a big house is typical of the nearsightedness of the
: warm-and-fuzzy do gooder mentality.
Do they also have to pay income tax on the house (since it's a gift)?
Last year Oprah Winfrey gave everyone in her audience one day
a new car. They had to pay income tax on it, which was
a nasty surprise for most of them.
-- Andy Barss
|