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Originally Posted by Minte
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.
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The code is not country specific by my understanding. Did not know it was bush. Still not a fan of it. Leave it alone is a better idea. Let business take a long term look versus try and force us to do what is good for your re election in two years.
Still not sure what you are getting at with the commercial building. It has little or nothing to do with your net worth. Your tax rate is based on value times mill rate. It is the same if you are worth a ton or down under on the mtge.