In a tid bit I caught on a CNBC program a few weeks back it reported that 7 in 10 new home buyers are home sellers. Interesting! So, before these folks can buy they require a buyer for their current house. I smell another housing generated tanking coming forth in the near future. Sooner or later the U.S. government is going to offer to bail these folks out by offering a different type of tax incentive. Don't have a clue as to the form, but keep your eyes and ears open for someone is going to get an opportunity at taxpayer expense.
60% of the 4.5 million units sold in 2009 were distressed sales in some form or fashion, and this has taxing entities upset. As values are reduced due to lower selling prices and new financial appraisal requirements and regulations in place from the last bust they will receive less in property taxes to meet the needs of government employee pay increases. They don't want to reduce valuations for they want to keep the highly inflated values they currently have on their books. Government needs a financial meltdown! Then we can start over from square one.
Remember that 7 out of 10 - it appears credit qualification standards have tightened and thus the reason no buyers for the houses they wish to rid themselves of at the moment, and first time home buyers have no money saved to put down on a house. Did not stop them before, why should it stop them now? The new American Dream - get it without earning it.
Where have all the smart people gone? Surely someone has ideas on how to get the motor cranked and running again.
Subscribe to:
Post Comments (Atom)
Posts
2 comments:
Property Taxes Based On Inflated Values Should Be Reduced
Among the issues of great concern to those who pay property taxes are inflated property appraisals, the impact of illegal aliens and their anchor children on local property taxes, the spending of local tax-dependent entities, and the connections between members of the tax-dependent entities.
Why has The Pittsburg Gazette avoided critical reporting on issues related to property taxes and how local decisions related to property taxes are made? Why has the connection between the PISD and the spending on Broach Park been ignored? Why has the Pittsburg Gazette avoided reporting on the decline in the market value of local properties and on property foreclosures? Apparently, our local newspaper has lost whatever objectivity it might have ever had.
Since property taxes are based on property values, it is obvious that the rules are not being followed. It is obvious that property taxes and the spending based on the value of our properties should be decreased.
By lowering property taxes on businesses you will create more business and more economic prosperity. This will create more revenue to businesses, more money in the economy, more jobs, more tax base and thus more money to the taxing entities, It will work at the city, county, state and even federal level. Unfortunately those elected to office either do not know this or don't want to understand this. If you want more peaches you plant and care for more trees,you don't deprive the trees you have of water. Lees Government / More Freedom
Post a Comment