Ghoulish bid to slap tax on Twin Towers

[philw]

http://www.news.com.au/world/ghoulish-bid-to-slap-tax-on-twin-towers/story-e6frfkyi-1225815788832

ONE of the weirdest developments in the aftermath of the World Trade Center attack is being played out in an astounding tax court battle.

More than eight years after the Sept. 11 terror attacks, New York City authorities are demanding that developer Larry Silverstein fork over almost $35m in commercial rent taxes on the Twin Towers and two other buildings that no longer exist.

The city's reasoning is that Silverstein continued to pay rent to the Port Authority after the towers fell.

That, city officials claim, subjects his transactions to the 3.9 percent commercial rent tax through 2005, when the state legislature ended the tax for all properties below Canal Street.

On May 27, 2007, the city's finance department sent Silverstein a bill for $34,866,549 - including penalties and interest - on his four trade center buildings.

City officials asserted that "the airspace that had been surrounded by the buildings still existed" and, since Silverstein had the right to rebuild, he had to pay up.

Silverstein pointed out that the government seized control of the entire site in 2001, so he could hardly rebuild.

Judge Marlene Schwartz agreed in a Dec. 9 decision, and chided the city for its "error."

"We are disappointed with the ruling and are considering all legal options," said Rita Dumain, chief of the city's tax and bankruptcy litigation division.

[fightingquaker13]

So, we are to be taxed on non-existent realestate, because we control airspace (prehaps good for dirgible based condos?) when the feds have siezed the ground and the whole area is a bloody toxic waste zone? Three words: Get a rope.
FQ13

[Snake45]

Never underestimate the power of government (especially if it is controlled by liberal democrats) to take any horrible situation and make it even worse.

[fightingquaker13]

Never underestimate the power of government (especially if it is controlled by liberal democrats) to take any horrible situation and make it even worse.

Fixed it for you.
Remember, Bloomburg is a Republican, oh, no, a Democrat, wait, an independent. The only thing this guy believes in is that he should be in charge. Party be damned, its the desire for power that corrupts. Again, three words:Get a rope.
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[tombogan03884]

 I would not have even gone to court, I would have just told them to pound sand, What are they going to do, seize my airspace ?

[Sponsor]

[TAB]

i'd be willing to bet that he has plenty of other assets they could have went after.  If you go to court and get a temp injuction, you will atleast stop the "juice"

When the goverment uses thier powers of Condemnation, you still have to pay property tax as you still own it.  Its the same with a crime scene.  I don't know the detalis of this case, but I'd bet that is what the issue is here.  I'd also bet that there is a tax law in NY that says if your under condemnation, you still have to pay property taxs.  I'm guessing this will be a legislative, rather then a legal one.

[twyacht]

from TAB,
I'd also bet that there is a tax law in NY that says if your under condemnation,

Condemn what? The fine print didn't cover "obliteration".

Bloomberg could end this tomorrow,, will he?

[fightingquaker13]

from TAB,
I'd also bet that there is a tax law in NY that says if your under condemnation,

Condemn what? The fine print didn't cover "obliteration".

Bloomberg could end this tomorrow,, will he?

Do you even need to ask? Look, in fairness, that piece of land will be worth millions someday. The guy could sell it for a dime on the dollar and walk away rich. Compared to that, $35 K is peanuts. Still, its the principle of the thing that irritates me.
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[BAC]

Do you even need to ask? Look, in fairness, that piece of land will be worth millions someday. The guy could sell it for a dime on the dollar and walk away rich. Compared to that, $35 K is peanuts. Still, its the principle of the thing that irritates me.
FQ13

The amount was $34,866,549.  A little more than "$35 K"

[fightingquaker13]

The amount was $34,866,549.  A little more than "$35 K"

Oops! Those numbers are tricky things.
FQ13