Archived posting to the Leica Users Group, 2007/06/28
[Author Prev] [Author Next] [Thread Prev] [Thread Next] [Author Index] [Topic Index] [Home] [Search]Ric, This happens everywhere. Currently, dirt in my neighborhood is going for absurd amounts of money. So, folks who are nearing retirement are forced to sell as they can not afford 20-50K annual property tax assessments on property that they only paid 50-60K for years ago. Same deal, developer gets relatively cheap land and the county and city get more tax revenue. On 6/28/07, Ric Carter <ricc@mindspring.com> wrote: > > NC requires (at the behest of local government and real estate > lobbies) tax revaluation of all property at least every 7 or 8 years. > Valuation is to be market value. > > Subsistence fishermen raised in the trade live on water frontage long > in the family (paid for long ago). Revaluation of land to what a > millionaire developer would pay to put condos on it, pushes him to > the point that he cannot pay his taxes. He HAS to move. The developer > pays him below value because he is in a bind. He must now rent space > to moor his boat. he is soon out of business. Luckily, with their > just increased tax revenue, the local government can now afford to > pay the needed unemployment and welfare he now requires. > > The old reverse redistribution of wealth. > > Luckily for everyone, he never voted in the first place. > > Photographers now get cookie cutter condos and motels instead of > scenic docks. > > hi ho > > ric > > > > On Jun 28, 2007, at 5:18 PM, Hugh Thompson wrote: > > > Ric - at least something is happening to upgrade the area - end of > > an era I guess > > > _______________________________________________ > Leica Users Group. > See http://leica-users.org/mailman/listinfo/lug for more information > -- Don don.dory@gmail.com