Quote:
Originally Posted by Rattlesnake Guy
My other house is in Hollis and they are working on a plan to help people like Les. People who have had the value of their property increase dramatical over the years. The town wants these people to stay in their homes and not be forced to sell to new families with a fresh batch of kids to educate.
What they are working on is a plan where people will be able to defer their property tax until the home is sold. The town will borrow money and the homeowners liability will grow (with int erst). If someone like Les wants to stay in their home and does not want to pay, they can use up some of that paper profit that has gotten them into the situation in the first place.
If they want to move, they pay it back. If they spend the rest of their life in the home, the estate will have to settle the obligation. Sort of like a reverse mortgage.
I would much rather see this type of a solution than raising my taxes in hopes that Les's might go down.
|
Me thinks this is a terrible idea.
OK so I own for 20 years, do not pay an increase or no taxes at all for teh twenty years then I sell because I really need the money, but after the mortagage payoff, selling/closing fees and the back taxes have nothing but a small dime in my pocket.