"MJ" wrote in message

"So any improvements made to the home are exempt from federal and state
taxes. It's a win-win situation for everybody."

And that typically dodges the real issue .. it is "property" taxes which are
the real burden.

Almost all property taxes are based on "appraised value", so any
improvements, no matter what scam is used to make them, will result in an
increase in the property's value, which results in higher taxes.

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Last update: 5/6/06

"Swingman" writes:


And that typically dodges the real issue .. it is "property" taxes which are
the real burden.

Almost all property taxes are based on "appraised value", so any
improvements, no matter what scam is used to make them, will result in an
increase in the property's value, which results in higher taxes.

Many of the families are given sums of money or have the mortgage go away
or both. The kids usually get college scholarships.

I would bet in most cases the increased property taxes are not going to be
any more than the old property taxes and mortgage payments.

Someone whose life is changed by a new house, maybe a new car, and a wad
of cash should be able to figure out how to pay the taxes once the money
runs out. For the familes that get $100k, they could put it in a bank CD
and make enough interest to cover a $4,000 tax bill.

Brian Elfert

"Brian Elfert" wrote in message

"Swingman" writes:

And that typically dodges the real issue .. it is "property" taxes which
are
the real burden.

Almost all property taxes are based on "appraised value", so any
improvements, no matter what scam is used to make them, will result in an
increase in the property's value, which results in higher taxes.

I would bet in most cases the increased property taxes are not going to be
any more than the old property taxes and mortgage payments.

You would lose.

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Last update: 5/6/06

"Swingman" wrote in message
news

"Brian Elfert" wrote in message

"Swingman" writes:

And that typically dodges the real issue .. it is "property" taxes which
are
the real burden.

Almost all property taxes are based on "appraised value", so any
improvements, no matter what scam is used to make them, will result in
an
increase in the property's value, which results in higher taxes.

I would bet in most cases the increased property taxes are not going to
be
any more than the old property taxes and mortgage payments.

You would lose.

I'd be interested to hear the backup for that statement.

todd

"Brian Elfert" wrote in message

Someone whose life is changed by a new house, maybe a new car, and a wad
of cash should be able to figure out how to pay the taxes once the money
runs out. For the familes that get $100k, they could put it in a bank CD
and make enough interest to cover a $4,000 tax bill.

In some cases, yes.

Multi-million dollar lottery winners often end up broke too.

Yeah they do, but generally only through stupidity or greed.
"Edwin Pawlowski" wrote in message
m...

"Brian Elfert" wrote in message

Someone whose life is changed by a new house, maybe a new car, and a wad
of cash should be able to figure out how to pay the taxes once the money
runs out. For the familes that get $100k, they could put it in a bank CD
and make enough interest to cover a $4,000 tax bill.

In some cases, yes.

Multi-million dollar lottery winners often end up broke too.

"Swingman" writes:


"Brian Elfert" wrote in message

"Swingman" writes:

And that typically dodges the real issue .. it is "property" taxes which
are
the real burden.

Almost all property taxes are based on "appraised value", so any
improvements, no matter what scam is used to make them, will result in an
increase in the property's value, which results in higher taxes.

I would bet in most cases the increased property taxes are not going to be
any more than the old property taxes and mortgage payments.

You would lose.

One of the families is/was appealing a $4,000 property tax bill.

How many families really have a combined mortgage/property tax bill of
less than $400 a month?

Brian Elfert

"Brian Elfert" wrote in message
"Swingman" writes:


"Brian Elfert" wrote in message

"Swingman" writes:

And that typically dodges the real issue .. it is "property" taxes
which
are
the real burden.

Almost all property taxes are based on "appraised value", so any
improvements, no matter what scam is used to make them, will result in
an
increase in the property's value, which results in higher taxes.

I would bet in most cases the increased property taxes are not going to
be
any more than the old property taxes and mortgage payments.

You would lose.

One of the families is/was appealing a $4,000 property tax bill.

How many families really have a combined mortgage/property tax bill of
less than $400 a month?

I give up, how many?

You're running rabbit trails ... read my statement in the context in which
it was written as a reply - as answer to the bull**** about "federal and
state" taxes being taken care of - not as you're trying to twist/spin it.

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Last update: 5/6/06

Well, no. Not in all municipalities. In ours, a $1 mill, gets you a
2000 - 3500
sq ft house and some acreage - anywhere from 1/2 to 3. Depends on the
area.
Where this couple live, their house was appraised for over a $ 1 mill.

A 400 sq ft house in SF would run about $600k!

MJ Wallace