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Old 12-28-2019, 11:20 AM
  #321  
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Originally Posted by navigatro
that is not an arms length transaction. it is an attempt to scam the tax authorities. also good luck getting financing for 2x the purchase price. if you can afford cash, then it would work, but the tax authorities would be knocking on your door.
Exactly, that’s why I didn’t agree with that statement.
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Old 12-28-2019, 06:32 PM
  #322  
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Let’s all start with the idea that it’s OUR money, not the government’s. Go from there.
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Old 12-28-2019, 07:39 PM
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Originally Posted by at6d
Let’s all start with the idea that it’s OUR money, not the government’s. Go from there.
If you’re willing to forgo any road repair, local schools, libraries, fire or police protection I’d agree.
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Old 12-28-2019, 07:42 PM
  #324  
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Hell, I don't get most of that where I live anyways.

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Old 12-28-2019, 08:17 PM
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Originally Posted by DarkSideMoon
If you’re willing to forgo any road repair, local schools, libraries, fire or police protection I’d agree.
There's always a place for common civic services, but those are still paid for with your money, not the government's. Even so, that's a small portion of the total budget. The government doesn't spend it's own money because it doesn't have any. It can tax with the consent of the governed but has no right to your money. Only you have the right to your money. Too many people seem to think that they can decide how much is enough for someone else to have or how someone else should spend their own money. And a lot of those people are elected to office by promising to take money from people to give to other people. It's hard to imagine a more immoral policy but that's where we are.
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Old 12-28-2019, 10:13 PM
  #326  
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Originally Posted by Blue Dude
There's always a place for common civic services, but those are still paid for with your money, not the government's. Even so, that's a small portion of the total budget. The government doesn't spend it's own money because it doesn't have any. It can tax with the consent of the governed but has no right to your money. Only you have the right to your money. Too many people seem to think that they can decide how much is enough for someone else to have or how someone else should spend their own money. And a lot of those people are elected to office by promising to take money from people to give to other people. It's hard to imagine a more immoral policy but that's where we are.

US Constitution > Article I. Legislative Department › SECTION 8. Clause 1.
The Congress shall have Power to lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States.

Sounds like they do have the right to at least some of your money, consent was given in 1788...
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Old 12-29-2019, 05:47 AM
  #327  
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Originally Posted by DarkSideMoon
If you’re willing to forgo any road repair, local schools, libraries, fire or police protection I’d agree.
It's still our money. *Most* of us agree that infrastructure and a few key government functions like law enforcement are worth some taxes.

The problem comes in when political factions realize they can vote themselves largesse from the public coffers. If you don't know what that phrase means, google it. Never been more relevant than today.
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Old 12-29-2019, 07:07 AM
  #328  
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Originally Posted by navigatro
that is not an arms length transaction. it is an attempt to scam the tax authorities. also good luck getting financing for 2x the purchase price. if you can afford cash, then it would work, but the tax authorities would be knocking on your door.
Most property tax authorities use "Tax Accessors" that judge the value of a house at the time of a transaction of title or in some jurisdictions annually, and in others at a time when major work permits are issued.

They usually use a combination of transaction price, and comps in the area to establish a fair value for the house, regardless of what you paid for it.

As an aside, during the last downturn in CA, they didn't advertise it much, but if your house was worth less than it had been purchased at (and appraised for taxes), you could apply annually to have your house reassessed and they did lower your taxes temp for that year but if you didn't apply each year, the value and tax rebounded to the original higher value.
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Old 12-29-2019, 07:09 AM
  #329  
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Originally Posted by Profane Kahuna
He said he paid taxes on a valuation higher than the price he just purchased the house for......which doesn’t make sense in Texas, California, or anywhere for that matter.
The only thing that makes sense is that the OP bought the house and did major renovations as well that used permits which triggered a reassessment after the remodel and hence an updated value that included a tax hike.
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Old 12-29-2019, 07:19 AM
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Originally Posted by full of luv
The only thing that makes sense is that the OP bought the house and did major renovations as well that used permits which triggered a reassessment after the remodel and hence an updated value that included a tax hike.
Yeah but he said it was the purchase which triggered the reassessment, which ended up being “way more” than he paid for the house.

So I still don’t understand the situation because you can protest the valuation using comps and purchase price. I know because I’ve done this myself.
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