Quote:
Originally Posted by slapass
I agree that changing section 179 was a dumb idea. Obama gave you a break, and now it ends. I tend to think that consistency is better for the economy then anything else the govt does.
Property taxes are not indexed to your wealth but ore a percentage of the value of the real estate. Not sure what your complaint is? All commercial property in your area pays the same mill rate. Rich and not so rich.
I also own warehouses and wrote big checks. It is the price of ownership. At least we just support schools and roads versus bombs and food stamps with the money.
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Bush actually initiated the 179 depreciation schedules, and without them the manufacturing economy would've never come back. It would've been cheaper to just expand purchases in China. Obama is simply taking them away. Keeps with the current theme of more taxes.
Commercial and industrial buildings in our state are assessed by the state treasury department. You are correct that the MIL rate is the same in the city, but the assessment value isn't even close. My industrial buildings took a much larger tax hit than my home.