Question for homeowners - GoFuckYourself.com

Oracle Porn · 07-11-2004, 03:18 AM

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....

dunefield · 07-11-2004, 03:19 AM

RIPPED OFF!!!

strobi · 07-11-2004, 03:21 AM

Your mom is lying to you somewhere.

Paul Waters · 07-11-2004, 04:49 AM

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?

kush · 07-11-2004, 04:51 AM

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?

Oracle Porn · 07-11-2004, 06:45 AM

Quote:

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

Lykos · 07-11-2004, 07:33 AM

Quote:

Originally posted by dunefield
RIPPED OFF!!!

=^..^= · 07-11-2004, 07:34 AM

sounds liek a scam to me

Adultnet · 07-11-2004, 08:55 AM

Quote:

Originally posted by =^..^=
sounds liek a scam to me

This Smell fishy...

pussyluver · 07-11-2004, 09:02 AM

Quote:

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!

tony286 · 07-11-2004, 09:04 AM

She spent all that money on a condo and you come for Tax advice here ? lol Go to a accountant.

Reak · 07-11-2004, 09:04 AM

liar.

Rankings · 07-11-2004, 11:39 AM

never heard of anything like that

The Bootyologist · 07-11-2004, 11:44 AM

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

07-11-2004, 03:18 AM	#1
Oracle Porn Affiliate Industry Role: Join Date: Oct 2002 Location: Icq: 94-399-723 Posts: 24,433	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 at 03:21 AM..

07-11-2004, 03:19 AM	#2
dunefield www.barely18movies.com Join Date: Feb 2003 Location: Melbourne, Australia Posts: 10,920	RIPPED OFF!!! __________________

07-11-2004, 04:49 AM	#4
Paul Waters Confirmed User Join Date: Mar 2003 Location: Toronto, Ontario Posts: 4,402	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

07-11-2004, 07:34 AM	#8
=^..^= Confirmed User Join Date: Jan 2002 Location: ICQ 380-366 Posts: 6,935	sounds liek a scam to me __________________ #RememberYourRoots #AaronMForGFYHOF

07-11-2004, 11:39 AM	#13
Rankings Adult SEO Industry Role: Join Date: Jan 2004 Location: A cat with three legs cannot bury shit in a frozen pond. In addition to that, can you cry underwater? Posts: 10,633	never heard of anything like that __________________ Your leader for Adult SEO Services 19+ Years Serving the Adult/SEO Industry ICQ: 610-814 Skype: xratedseo

07-11-2004, 03:21 AM	#3
strobi Confirmed User Join Date: Nov 2002 Location: Belgium Posts: 7,383	Your mom is lying to you somewhere.

07-11-2004, 04:51 AM	#5
kush Confirmed User Join Date: Feb 2001 Posts: 3,382	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?

07-11-2004, 09:04 AM	#11
tony286 lurker Industry Role: Join Date: Aug 2002 Location: atlanta Posts: 57,021	She spent all that money on a condo and you come for Tax advice here ? lol Go to a accountant.

07-11-2004, 09:04 AM	#12
Reak So Fucking Banned Join Date: Mar 2003 Location: 420Calendar.com Posts: 17,920	liar.

07-11-2004, 11:44 AM	#14
The Bootyologist So Fucking Banned Join Date: Jun 2004 Location: m00dville Posts: 2,912	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