Idaho, Time for a Property Tax Revolution

[HydroDude]

Just received my Bonner County property tax assessment. Went from $92K to $212K. 20 acres off the grid with a 800sq ft cabin. Compared to others I got off easy. Time for revolution or just hand this county over to the yuppies and move on. But where? Thinking Eastern North Dakota. Too hot in Arkansas and Missouri. Just makes me mad and sad, because I do love my Idaho homestead, but the government is killing the dream. This supposed to be Idaho, not New York or Taxachusetts...---- it!!

http://www.bonnercountydailybee.com/...ews/news01.txt

[Rockin'B]

What could you sell it for?

[bare]

Originally Posted by Rockin'B

What could you sell it for?

Probably twice that. I hear it's supposed to go up drastically next year again.

[HydroDude]

Originally Posted by Rockin'B

What could you sell it for?

I was thinking $175-200K,but I will have to take a serious look at it now. I only paid $88K two years ago this month. So many people could be taxed off their land that I could see the real estate market becoming flooded with inventory as people try to bail. Thus driving prices down. Maybe that is the agenda.

[LisaInN.Idaho]

We have timber and ag exemptions so we didn't make out too badly. I really hope they get a handle on it. I'd hate to see people driven out of their homes by taxes.

[Ole Man Legrand]

We have a farm exemption, makes the property taxes about half. If you sell any land you pay back taxes for 3 years. Jay

[bare]

The folks with properties smaller than 20 acres and homes are the ones that are really going to take it in the shorts. What did that one guy with eleven acres get increased, 260,000 percent? That's incredible.

Tomorrow's headlines will probably be about folks trying to jump off Ivano's, the tallest building in Sandpoint at three stories.

[FreightTrain]

Ok, so your land doubled, almost trippled in value... in a short period of time, and your tax's have now been adjusted accordingly..

so whats the problem then?

when you buy land, dont you expect the tax's to rise along with property value? ............ i do.

does your state have a "clean n green" low property tax program?

[palani]

Ok, so your land doubled, almost trippled in value... in a short period of time, and your tax's have now been adjusted accordingly

Major misconception here. It is the same land, same cabin, so how can the 'value' triple? In fact the roof is now two years older so the 'value' should be less rather than more.

What you are talking about is the decrease in 'value' of the dollar due to rapidly expanding money supplies. The money supply is expanding because of successful war promotions that are ongoing. Anything real based on a shinking dollar commands more dollars to purchase.

There is no free ride.

[mama2littleman]

Originally Posted by FreightTrain

Ok, so your land doubled, almost trippled in value... in a short period of time, and your tax's have now been adjusted accordingly..

so whats the problem then?

when you buy land, dont you expect the tax's to rise along with property value? ............ i do.

does your state have a "clean n green" low property tax program?

Ahh, here is where we disagree. The increase in property value is theoretical. The land has not been offered for sale, nor is their a buyer to support this supposed increase. The property owner, if he/she does not sell their property does not benefit from the supposed "rise" in value. They do not have the difference between the original purchase price and the theoretical assessed value as cash in their pocket. Nor will that money be available to them until such time as they do sell or cash out the equity in their home. So why are they being taxed on an imaginary profit?

Nikki

[toomb68]

market value trippled for land in 2 or 3 years in idaho? man i would sell and move on! that is quite the return on investment!

[Ramblin Wreck]

Not sure how it works in Idaho, but in Georgia the property tax bill is a combination of the appraised value and the "millage" rate assessed by the government on that value. In theory, if the value of all land doubled, the equivalent of our "millage" should be halved...resulting in the same net tax effect. The problem is that more people are probably spilling into your state, demand is causing property values to sky rocket, and the same people who are creating the rising property values want government services. I've seen it happen where I live.

About the best you can hope to do is form a tax payer group that is a watchdog for spending. Keep government spending in check, and make sure the developers (and the ones who buy their homes) pay impact fees for any new projects (to support the schools, roads, other services the new home owners create).

And just wait until we have to start paying for the huge federal deficit...either through inflation or higher taxes. Good luck to us all.

[michiganfarmer]

Michigan is almost a scocialist state, but one good thing is ag property is taxed at about 1/4 of residential property. My 80 is assessed at $320,000, but because its ag, its only taxed on $76,000.

[FreightTrain]

Originally Posted by mama2littleman

Ahh, here is where we disagree. The increase in property value is theoretical. The land has not been offered for sale, nor is their a buyer to support this supposed increase. The property owner, if he/she does not sell their property does not benefit from the supposed "rise" in value. They do not have the difference between the original purchase price and the theoretical assessed value as cash in their pocket. Nor will that money be available to them until such time as they do sell or cash out the equity in their home. So why are they being taxed on an imaginary profit?

Nikki

Property does not need to be offered for sale, or to have a buyer standing in line to have an increased value.
Its not imaginary or theoretical if the land value has in fact doubled or tripled in his area.... hydro even said he thought he could possibly get 200 grand for it now...


so, what you are saying is, if i picked up property years ago for 10 cents an acre... i should only have to pay taxs based on 10 cents an acre from now on regardless of how many thousands an acre its valued at now? all because I "do not have the difference between the original purchase price and the theoretical assessed value" LMBO now thats funny

[Sgt.Sausage]

==> what you are saying is, if i picked up property years ago for 10 cents an acre... i should only have to pay taxs based on 10 cents an acre from now on regardless of how many thousands an acre its valued at now?

Until you sell and realize a profit, HELL YES.

"Value" is only an estimate, until the transaction is made and the dollars change hands. I don't want my taxes based on an estimate of value. Until I've sold, you're only guessing at the value.

Being taxed for holding assets (real estate) -- especially in our system of income taxes -- is an abomination that should be punishable by firing squad. First, the money is taxed as income. Then ya buy something with that income and it's taxed again and again, year after year after year. --- is up with that? How the hell have you folks become convinced that this is "normal" and AOK. It's nothing more than state sponsored robbery.

[texican]

Ahh yes, the theory of values, actual, potential, or realized, and the taxmans' take on all of it...

I inherited land, and bought adjoining land, over the years... Land was bought for 500/acre... 8 years ago a developer bought a tract I thought I'd already had a deal on, and built a private lake, and sold lots for 50 to 500K... ouch... first thing I did was go to the tax office and find out if my taxes were going up... since my land was valued at 700/acre and the developments land was 70k/acre... they told me as long as I didn't develop, my ag exemption would keep my taxes at the same rate.

My land has a potential value of between 7k to 70k/acre... My 190 acres has a market evaluation price for tax purposes of 50K. They could tax me 10x more, but don't. If I developed it, my rate would increase.

Now if they'd've told me that yes, since a developer wanted my land, and had started taxing me 10x more, I'd've probably had to sell out, and live elsewhere, possibly up in Canada or Alaska...

[Ramblin Wreck]

I don't mind paying my fair share of taxes, because I do want the roads maintained and our kids to have good schools. What I don't like is when existing tax payers having to foot the bill for all the stuff needed (or often just wanted) by the newbies. That's not fair.

For example, in our county a developer may put up 330 new houses (like the one going in just up the road from my farm). If there is just .5 students in each household, that equates to 165 kids that will need schooling. Given that the new house hasn't paid any taxes yet, everybody else has to ante up to provide the building, utilities, and teachers. If those same 330 houses were assessed an impact fee (say $2K per house) that the developer would pay and pass along to the buyers, the burden for the new stuff would be more fairly shared with the existing tax payers. As it is, the developers don't pay and they win by making profit off the house sales. The newbies win because they get services they don't have to pay for. Guess who loses?

Again, a well organized tax payer group can insure more fairness. Show up at local government meetings and have your voice heard. I assure you that the developers are actively lobbying those that can assist them.

[Blu3duk]

but is it accessed in "cash lawful money of the united States" [a dollar is a unit known as 371.25 grains silver per dollar] or assessed in Federal Reserve Accounting Unit Denomination [fraud] if you can get that many silver dollars out of a piece of ground then it is not theroy but factual, but since Idaho along with the other several States has allowed the private corporation federal reserve [which isnt federal btw] to take away all the silver coin, and have nothing left to trade but notes which are evidence of obligations of the UNITED STATES [a corporation not to be confused with the several States which were at one time united States as defined by SCOTUS in Hooven circa 1945] the defintion can be clearly understood if a person reads 12 USC 411 as a difference between frauds and lawful money of the united states for those with an interest.

I put forth all this becuase if a person uses frauds to "pay" a debt, they have only discharged that debt with limited liability putting the burden upon the rest of the people of the several states or the children of the future, becuase the gold and silver coin have been taken away so that no one can pay a debt totally out of pocket...... the house of cards is about to fall, the fed can barely contain the problems world wide, the 2 year t-bills are traading at a higher rate than the 10 year this past week, the fed hopes to devalue the dollar over the next 2-3 years, and re-insert a new currency for the sheple totrade with and stil not have "cash lawful money of the united states" in circulation..... Federal Reserve Accounting Unit Denomination..... the true mark of the beast, presented by the current "money changers" who nedd be run out of the temple again...... mankind cannot serve two masters, and the founding fathers of this once republic, now socialist group of states would turn over in thier graves if the headstones hadnt pushed the dirt down a little to tight.

ok the soapbox is open for someone else to clean up with ......, the ballot box has been shown to be stuffed by the politician who only say what people wanna hear, and are only there to further their own needs not the betterment of the people they were elected to re-present and the jury box is held hostage by the judges because people are so fearful and stoopid to actually rule in favor of the Supreme LAW of the Land [the constitution for the united States 1787-1791] if they even have ever read it through completely since grammer school or highscool coruption by the socialist teachers telling them it says someting different than it actually does.......thus leaving open only one option left...... and its a messy one which will pit nieghbor against nieghbor, socialist against republican [not to be confused with the GOP which is socialist in viewpoint] and sometimes husband against wife [dang woman of mine voted for the last levy increase and canceled out my vote agin it!!!! women shouldnt be allowed to vote cause they is emotional!!!! ] and that would be the cartridge box ....

I suppose there might be one option left, just re-issue gold and silver coinage as valued by the congress of the several states in the coinage act of 1792.... but that would be so simple, and would set the world holding paper fraud on its ear, and the socialists of the world would actually have to go out and do something for thier wealth rather than steal it from some one else.

blu3duk the free radical

William
Central Idaho [which is next on the tax increase]

[LisaInN.Idaho]

Good Lord! And you're calling women emotional?

[texican]

I went and read the article. Apparently the local taxing folks are now following state law, by putting the approximate value 90 - 110% of the true valuation... if they didn't raise the valuations to where they should be, the state of Idaho was going to come in and take over...

Hope the Texian authorities don't follow Idaho's lead...

and tax evaluations are based on what the real estate will bring on the market, not what we as individuals think it's worth.

Some locals put their places on the market for 3x local values...and sold them all to Californians who thought the properties were steals...