Question for homeowners

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  • Oracle Porn
    Affiliate
    • Oct 2002
    • 24433
    #1

    Question for homeowners

    My mom bought a condo a year ago in cash.... now she got a letter that she needs to pay %25 of the cost of the condo (As tax on the condo)...
    Is it normal? If someone got a 4 million dollar condo does he need to pay $1mil?
    If there some kind of exemptions or anything?
    Thanks in advance....
    Last edited by Oracle Porn; 07-11-2004, 02:21 AM.


    Tags: None
    • dunefield
      www.barely18movies.com
      • Feb 2003
      • 10920
      #2
      RIPPED OFF!!!

        Comment

        • strobi
          Confirmed User
          • Nov 2002
          • 7383
          #3
          Your mom is lying to you somewhere.

            Comment

            • Paul Waters
              Confirmed User
              • Mar 2003
              • 4402
              #4
              Who does she have to pay?

              A tax to the city???? Sue her lawyer who closed the deal without checking into all that.

              Or is it the condo corp making a special assessment? Sue her accountant who reviewed the corp's financial statements, and reserve fund study and cleared her to buy it.

              Or did she just buy the place without any due diligence?


              Paul

                Comment

                • kush
                  Confirmed User
                  • Feb 2001
                  • 3382
                  #5
                  25% tax is ridiculous

                  Only way i can see that happeneding is if through capital gains, but you didnt' say she sold it, and a property most likely wouldn't appreciate that much in a year.

                  Was she behind in other taxes? Is this her first time ever paying tax on the property?

                    Comment

                    • Oracle Porn
                      Affiliate
                      • Oct 2002
                      • 24433
                      #6
                      Originally posted by kush
                      25% tax is ridiculous

                      Only way i can see that happeneding is if through capital gains, but you didnt' say she sold it, and a property most likely wouldn't appreciate that much in a year.

                      Was she behind in other taxes? Is this her first time ever paying tax on the property?
                      first time


                        Comment

                        • Lykos
                          Too lazy to set a custom title
                          • Apr 2003
                          • 31027
                          #7
                          Originally posted by dunefield
                          RIPPED OFF!!!

                            Comment

                            • =^..^=
                              Confirmed User
                              • Jan 2002
                              • 6935
                              #8
                              sounds liek a scam to me
                              #RememberYourRoots #AaronMForGFYHOF

                                Comment

                                • Adultnet
                                  Confirmed User
                                  • Sep 2003
                                  • 8713
                                  #9
                                  Originally posted by =^..^=
                                  sounds liek a scam to me
                                  This Smell fishy...


                                  TrafficCashGold Paying Webmasters Since 1996!
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                                    Comment

                                    • pussyluver
                                      Clueless OleMan
                                      • Mar 2003
                                      • 11009
                                      #10
                                      Originally posted by Adultnet
                                      This Smell fishy...
                                      As far as I know, everywhere in the US, the amount of current taxes must be disclosed at time of purchase. In fact at closing you sign a document that it was disclosed and then you sign another slip that you did sign the document that says you signed?. You get the idea it?s over bureaucratic!

                                        Comment

                                        • tony299
                                          lurker
                                          • Aug 2002
                                          • 57021
                                          #11
                                          She spent all that money on a condo and you come for Tax advice here ? lol Go to a accountant.

                                            Comment

                                            • Reak
                                              So Fucking Banned
                                              • Mar 2003
                                              • 17920
                                              #12
                                              liar.

                                                Comment

                                                • Rankings
                                                  Adult SEO
                                                  • Jan 2004
                                                  • 10633
                                                  #13
                                                  never heard of anything like that
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                                                    Comment

                                                    • The Bootyologist
                                                      So Fucking Banned
                                                      • Jun 2004
                                                      • 2912
                                                      #14
                                                      did the condo cost $10K? was it a fire sale? that's the only way tax should be 25% of cost..

                                                      also make sure she files for homestead exemption with the local tax collector, this will reduce property tax cost

                                                        Comment

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