So the county property auction fetches few dollars.
Gazette today.
And it goes on, "Bids don't match assessed values."
Well, how can they match the assessed values, the assessments are far above the real value of the properties. Of course, I and many others on here have been saying that for years, but the cheerleaders for the dems say they are doing a wonderful job, the city and county is in a renaissance.
And the dems refuse to reduce assessments because that would be an admission of their big failure--failure of their party and big failure of downtown because all the millions thrown at downtown is NOT helping the city of the county!
Optimists close their eyes and pretend problems are non existent. Better to have open eyes, see the truths, acknowledge the negatives, and speak up for the people rather than the politicos and their rich cronies.
I saw that. What have we been saying, over and over? I think anyone buying any property anywhere has to be careful right now, but in Schenectady, if you don't get a rock-bottom price, you are crazy. BTW, if the assessments were lowered to where they should be, not where McCheese wishes they could be, because that would prop up his whole cockamamie scheme, if they were where they should be, the houses would start selling again, AND people would not be losing their homes because they can't afford their taxes.
I saw that. What have we been saying, over and over? I think anyone buying any property anywhere has to be careful right now, but in Schenectady, if you don't get a rock-bottom price, you are crazy. BTW, if the assessments were lowered to where they should be, not where McCheese wishes they could be, because that would prop up his whole cockamamie scheme, if they were where they should be, the houses would start selling again, AND people would not be losing their homes because they can't afford their taxes.
Not sure that would happen.
Yes a reassesment needs to be done. However, if the assessments were lowered, the tax bills would basically stay the same,just redistributed to account for those who have chosen to grieve assessments and won.
Simple LITTLE explanation (there are only two houses in the city). Imagine the the tax levy is $2,000, the tax LEVY is the amount that must be collected in property taxes.
If your house and my house are each the same and assessed for $100,000, and the tax RATE is $10 (per thousand of assessed value), then we each pay $1,000.
If I got choose to grieve and win and get my assessment down to $50,000. But you didn't bother to grieve your assessment. If there is no increase in tax LEVY, the tax RATE will rise to roughly $13.33 cents per thousand, thus your tax BILL rises to $1,333 and my tax BILL will be about $667.
Now the city decides to do a reassessment. My house at $50,000 is lowered to $40,000. Your house is the same as mine and you are lowered to $40,000 as well. Assume the city still needs only $2,000 to collect from property taxes. The math would result in the tax RATE to be $25 per thousand. Now the tax BILL for you AND be $1,000. We are back to what we were at the beginning. After I grieved, you essentially subsidized my taxes. But when the city reassesses downward, your tax BILL goes down, but my tax BILL goes up, we are equal again.
Think of it this way using the real number in the city. If a typical (they always used this amount) house in the city is assessed for $100,000, we know based on the current tax RATES and fees, that a house would pay $5,000 a year in taxes. Now, if the city reassessed down and the "typical" assessment was perhaps $60,000, then a house assessed for $60,000 would pay in taxes and "fees" a total of about $5,000.
It would really look very bad for the city, it would again be more proof of MASSIVE failure by the dems and plex.
To have a total tax bill of $5,000 for a $100,000 house sounds more appealing than to say that a tax bill is $5,000 a year for a house assessed (market value) of just $60,000. When places outside the city, and especially outside of the county pay substantially less.
So I think the dems just can't reassess because it would prove their failure and they are too embarrassed t admit it. And because homeowners who have not opted to grieve their assessments then they are basically subsidizing the ones who were motivated enough to grieve. And ALL those who are motivated enough are winning their lawsuits against the city.
So the people of the city MUST DEMAND the city reassess, and it NOW. Sad thing is it will take about two years to complete so perhaps the 2016 year is when the effects would be seen. The dems would NEED to reassess and have it completed by the official assessment roll 2015 in order to win an eletion in 2015, because the budget for 2016 many who grieved would see a massive increase in taxes and it would be all over the news, but sadly AFTER the election
Optimists close their eyes and pretend problems are non existent. Better to have open eyes, see the truths, acknowledge the negatives, and speak up for the people rather than the politicos and their rich cronies.
Pending home sales drop 5.6 percent in September Text Size
Published: Monday, 28 Oct 2013 | 10:00 AM ET
Pending home sales down 5.6% Monday, 28 Oct 2013 | 10:00 AM ET CNBC's Diana Olick has the latest data on home sales. The number of Americans who signed contracts to buy homes dropped sharply in September, reflecting higher mortgage rates and home prices that have made purchases more costly.
The National Association of Realtors says its seasonally adjusted pending home sales index fell 5.6 percent to 101.6, the lowest level in nine months. The decline pushed the index below its year-ago level, the first time that's happened in nearly 2 1/2 years.
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30 yr fixed 4.16% 3.34% 30 yr fixed jumbo 4.32% 3.16% 15 yr fixed 3.22% 2.81% 15 yr fixed jumbo 3.61% 2.77% 5/1 ARM 3.34% 2.57% 5/1 jumbo ARM 2.83% 2.27% Find personalized rates:
Bankrate.com There is generally a one- to two-month lag between a signed contract and a completed sale. The drop suggests final sales will decline in the coming months.
Mortgage rates reached a two-year high in August and remained elevated in September. But they have fallen in the past month, which could help boost contract signings in October.
Many economists say the housing recovery should continue, albeit with slower gains in home sales. They note that home prices and mortgage rates remain low by historical standards.
Monday's report "is in line with other housing indicators ... that suggest the pace of improvement in housing markets has slowed," Cooper Howes, an economist at Barclays Capital, said in a note to clients.
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...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
No, I mean lower assessments to reflect reality AFTER repealing that stupid, giant tax increase put through to "get a better bond rating". I ask you, what did we need a better bond rating for, we were already in a position where we couldn't 'afford' any kind of services in return for our tax money. That whole Standard and Poor and Moody's rating thing was just part of the big financial scamming of America, and BS fell for it.
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