The Down Range Forum
Member Section => Down Range Cafe => Topic started by: TAB on March 06, 2017, 01:47:59 PM
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my old house in fair oaks( sacramento area) just sold for almost 400k more then I sold it for 3 years ago when I bailed from CA.
it was built in 68 and had nothing done other than maintance items and central heat and air.
looking at the pics, it still has the 10+ year old carpet and the same paint it had when we sold it. still has the specaled olive white and green tile back counter top/back splash and dark stained pine cabinets.
there are no words other then wow. if I had only known.
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You should understand as well as anyone that carpet, other flooring, counter tops, and even cabinets are not money making or even maintaining investments. Most serious buyers want their own choices in these, so they plan to rip them all out and replace them anyway, regardless of how new or up to date they are.
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I know they are break even at best items. I just find it funny that a 384k change in 3 years. whats more shocking it was only on the MLS for 2 days.
it was a POS when I bought, it was a POS when I sold it. I bought it for the location and the long side yard so I could park 3 boats there ;D
it was the dog of the hood no doubt.
reduing the small galley kitchen is not that expesnive. doing what should be done was. I always wanted to tear it out, put a beam on the load baring wall between the kitchen and the living room, expand the kitchen 6', triple the cabinet and 4x the counter top... never did it as the materials alone were 40k.
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The California real estate market is completely insane. In L.A. 60 year old, 1,200 sq. ft. 2 bedroom, 1 bath frame homes are selling for over $500K. I can't see how this market can possibly sustain itself much longer over there.
Tech companies in Silicone Valley, as well as the aircraft industry in the southern California area, are all tanking. Companies in the Bay Area are laying off in droves. There are no longer ANY aircraft being built in southern California. The Boeing C-17 program was the last, and they recently closed that down, and laid off thousands of workers. None of those people will be able to find other jobs as lucrative as what they had.
Add the never ending influx of illegal invaders that is draining that state dry financially, and something has got to give, and give soon. This could very well end in a real estate crash even worse than the real estate crash of 2008, and send prices plummeting as a result. TAB, you were smart to get out when you did.
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Should have done it 10years before... wouod have never met sarah, but my life would have been so much better. I stayed until my grandfather passed.
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That's really nice that you stayed for your grandfather TAB. Both mine died before I was born so I can only imagine what it's like.
And I recently found out my property taxes are going up $4 this year. At first I was wondering what the point was in raising it such a small amount, then I figured out it should raise hundreds of thousands of dollars in tax revenue since there are some houses in the $500,000 - $1,000,000 range just a mile or so away from here.
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......And I recently found out my property taxes are going up $4 this year. At first I was wondering what the point was in raising it such a small amount, then I figured out it should raise hundreds of thousands of dollars in tax revenue since there are some houses in the $500,000 - $1,000,000 range just a mile or so away from here.
You bring up another good point why we're ripe for another housing crash. Property taxes in many areas of the country are going completely off the chart. Especially in most all of the Democratic nanny states. Because they're quickly running out of money trying to support all of their give away programs, and expensive, unsustainable pensions for all of their teachers unions and city workers.
When my wife and I built our home in Lake County, Illinois, (right next to Cook County, and about 25 miles from downtown Chicago), It was a 4 bedroom, 3 bath 2 story. When it was completed in 1985 the property taxes were $2,600.00 a year. And the house was worth just north of $200K, when we sold and left in 1991, 6 years later. The taxes had grown to $4,000.00 a year by then, in that short 6 year span. High, but still somewhat affordable.
We just checked and last year, (2016), the property taxes had climbed to $10,400.00 A YEAR! That's $866.00 a month. The current value of the home shows to be around $348K on Zillow. Less than a $150K increase in value in the last 26 years. And with that $866.00 a month for taxes, you haven't paid for any utilities or insurance. Not to mention a mortgage, groceries, gasoline, car insurance, health care, and all the other day to day expenses. What working middle class family can possibly afford that? Let alone someone who is retired. They simply can't. And mind you this home was nice, but nothing special. A bit like the house Beaver Cleaver grew up in with Wally, Ward, and June.
The homes in these highly taxed areas are becoming very difficult to sell because of this. People are being forced to move out and find cheaper living. Many like myself, have moved out of state. My current property taxes here in Arizona are just over $1K a year. And I have all the same schools and services available to me I had back there. Many are even better.
This is all going to come crashing down. It's only a matter of time. I'm actually surprised it hasn't already. And it's worse in many other areas of the country like New York, Minnesota, Massachusetts, Wisconsin, and some areas of Michigan. All of which have had property taxes spiral out of control. This is yet another example of out of control spending by Democratic liberals, who have come up with everything.... Except a way to pay for it all.
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Crap, Bill....... I guess we got it OK here in south Georgia.
Property taxes on 35 acres (with a conservation covenant) is only $500 and change. Our younger son has a house on 3 acres and his runs around $1500 per year.
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I had to look up conservation covenant. I never heard of that before.
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I had to look up conservation covenant. I never heard of that before.
Ours is under an agricultural and wetlands agreement. We have to renew every ten years, and agree that part of the land will be used for cultivated agricultural use, and that the part that is considered wetlands (our property runs into bottom land and a creek system) remains such. It cuts our property taxes by 60% and we actually make enough to cover that in a lease agreement with a neighbor that leases 15 acres to plant cotton on each year.
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I'm fortunate to live in Cobb County, GA. At least taxes wise. Not only are our home property taxes are very reasonable. Forget all the assessed value verses market value mumbo-jumbo they play. When it comes down it's about 0.3% for the county and 0.6% for the school board based on market value. The official millage rates are higher, but then the appraised value is devalued about 60% before the computation.
BUT, and Cobb is one of the few counties in the country, those over 62 can opt out of the school board tax!!
So for every 100,000 in MARKET value I pay about $300/yr.
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..... those over 62 can opt out of the school board tax!!
It should be that way for every country in the U.S.
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It should be that way for every COUNTY in the U.S.
in all 57 states!!!
:)
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MA mil rates range from 5 to 25/30 bucks per 1000. This town is 16 bucks.
I rent, so I pay those taxes one way or another. I expect this house is worth about 200-230k.
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BUT, and Cobb is one of the few counties in the country, those over 62 can opt out of the school board tax!.
I have never had a kid go to school in Florida. I'm 69. I've lived in Florida 35 years. And I still get nicked for School Board assessments.
Property taxes run more than my annual salary in my 20s. Fortunately, I did better in my 30s and onward.
Crusader Rabbit
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And the irritating thing about it, (at least for me), is the fact the money is continually being squandered. Except for in a few very affluent school districts. Every year we pay more, and every year scholastic performance drops. I don't really give a damn where they place blame. It can be the teachers, and total lack of discipline. Parents who don't care. Too much time wasted on unimportant, progressive curriculum. Or all of the above.
The fact is every year we end up paying more and getting less. Somewhere this chain has got to be broken. I'm afraid it will only happen when the tax money starts drying up. And with the prices of many of these homes, along with ever increasing property tax bills, something has got to give. This is unsustainable.
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Part of the problem is the money wasted on "administrators".
We actually spend far to much money on education, it's just that most is pissed away on crony assistants, and social justice BS in stead of actual teaching.
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In metro Atlanta the thing is SPLOST, or Special Purpose Local Option Sales Tax.
The state gave every county, municipality, or official board the ability to add to the sales tax, in there area, for special purposes, WITH VOTER APPROVAL. And because they're special the tax is limited to 5 years.
We're up for renewal on our County School Board and the Marietta City Schools. eSPLOST V they're calling it. Each time I think the voters will turn off the spigot, but each time it's gets approved. Only drives me to do more business mail-order with no sales tax.
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Here, we're required to "report" our online purchases on our state taxes... now that Amazon has a facility in the state, they're required to take on POS.
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What online purchases? I didn't make any online purchases. Wink wink. I think we're supposed to report them here too. That's the only tax I've been able to avoid.
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What online purchases? I didn't make any online purchases. Wink wink. I think we're supposed to report them here too. That's the only tax I've been able to avoid.
ca was like that too... I had a simple rule.
if it was for work and I was going to write it off, I paid the sales tax. if not, I didn't.
old saying.
people that say they pay all of their taxes are either liars or fools. which one are you? ;)
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I actually checked one year and because clothing and food aren't taxed here, my tax liability to the state for Amazon was about twenty bucks that year.
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I look at taxes this way.
If I were to arrive home and see a pickup truck parked in front of my house loaded by theives with many of my belongings, I'd have no qualms grabbing out as much of it as i could before it pulled away.
It used to be in some parts of the country they had no qualms shooting revenuers on sight too.
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You post that as if it's a bad thing. ????
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Speaking of revenuers, can you legally distill whiskey at home for your own consumption?
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Not according to this,
https://www.ttb.gov/spirits/home-distilling.shtml
Within title 26 of the United States Code, section 5601 sets out criminal penalties for activities including the following. Offenses under this section are felonies that are punishable by up to 5 years in prison, a fine of up to $10,000, or both, for each offense.
5601(a)(1) – Possession of an unregistered still.
5601(a)(2) – Engaging in business as a distiller without filing an application and receiving notice of registration.
5601(a)(6) – Distilling on a prohibited premises. (Under 26 U.S.C. 5178(a)(1)(B), a distilled spirits plant may not be located in a residence or in sheds, yards, or enclosures connected to a residence.)
5601(a)(7) – Unlawful production or use of material fit for production of distilled spirits.
5601(a)(8) – Unlawful production of distilled spirits.
5601(a)(11) – Purchase, receipt, and/or processing of distilled spirits when the person who does so knows or has reasonable grounds to believe that Federal excise tax has not been paid on the spirits.
5601(a)(12) – Removal or concealment of distilled spirits on which tax has not been paid.
Under 26 U.S.C. 5602, engaging in business as a distiller with intent to defraud the United States of tax is a felony punishable by up to 5 years in prison, a fine of up to $10,000, or both.
Under 26 U.S.C. 5604(a)(1), transporting, possessing, buying, selling, or transferring any distilled spirit unless the container bears the closure required by 26 U.S.C. 5301(d) (i.e., a closure that must be broken in order to open the container) is a felony punishable by up to 5 years in prison, a fine of up to $10,000, or both, for each offense.
Under 26 U.S.C. 5613, all distilled spirits not closed, marked, and branded as required by law and the TTB regulations shall be forfeited to the United States. In addition, 26 U.S.C. 5615(1) provides that unregistered stills and/or distilling apparatus also will be forfeited.
Under 26 U.S.C. 5615(3), whenever any person carries on the business of a distiller without having given the required bond or with the intent to defraud the United States of tax on distilled spirits, the personal property of that person located in the distillery, and that person's interest in the tract of land on which the still is located, shall be forfeited to the United States.
Under 26 U.S.C. 5686, possessing liquor or property intended to be used in violation of the law is a misdemeanor punishable by up to 1 year in prison, a fine of up to $5,000, or both. Such liquor and property is also subject to the seizure and forfeiture provisions in 26 U.S.C. 5688.
Under 26 U.S.C. 7201, any person who willfully attempts to evade or defeat any Internal Revenue Code tax (including the tax on distilled spirits) has committed a felony and shall be fined up to $100,000, imprisoned for up to 5 years, or both, plus the cost of prosecution.
Under 26 U.S.C. 7301, any property subject to tax, or raw materials and/or equipment for the production of such property, in the possession of any person for the purpose of being sold or removed in violation of the internal revenue laws may be seized and shall be forfeited to the United States. In addition, any property (including aircraft, vehicles, and vessels) used to transport or used as a container for such property or materials may be seized and shall be forfeited to the United States. Further, 26 U.S.C. 7302 adds that it is unlawful to possess any property intended for use, or which has been used, in violation of the internal revenue laws; no property rights shall exist in any such property.
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On the other hand.
http://www.homebrewing.org/Home-Distilling-Equipment_c_264.html
http://www.homebrewing.org/Copper-Still-5-Gallon_p_6894.html
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It used to be in some parts of the country they had no qualms shooting revenuers on sight too.
Those places still DO exist. A few in Kentucky. Pathfinder???????? Any input.
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You post that as if it's a bad thing. ????
Me? No...I was just pointing out that in some areas with less Police Oversight, they might get what they deserve.
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I am not afraid of the tax man, epa or osha man is scary as hell.
The worst the tax man can do is take my stuff. The other two can throw me in jail, for things that are accidents. Seen it happen more then once.
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President of the local Hell's Angles sued the city for not giving him a pistol permit and won as he'd never been convicted of anything.
Couple years later EPA put him away because a tree he cut down fell with it's top in the lake.