Author Topic: Krazy Kommercial real estate around DETROIT!  (Read 15939 times)

Green King

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Re: Krazy Kommercial real estate around DETROIT!
« Reply #30 on: March 23, 2017, 01:44:57 AM »
Hang in there. There is an innate conflict of interest built in the process since your taxes pays their salary. With budgetary problems they are facing dragging their feet is perfectly normal.
GK


Cigarbutt

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Re: Krazy Kommercial real estate around DETROIT!
« Reply #31 on: March 23, 2017, 04:54:56 AM »
Interesting story.
Reminds me of similar experiences with the Monster.
Perhaps it becomes, at some point, a simple investment decision:ie is it worth the time or aggravation?
If it becomes a matter of principle, re-evaluate?
When you reach points of resistance, it may not be time to pick up and read Atlas shrugged as you may feel like looking for a guy whose first name is John. Who?
I encourage you to continue your venture. Keep us informed.
Good luck.

johnny

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Re: Krazy Kommercial real estate around DETROIT!
« Reply #32 on: March 23, 2017, 06:10:48 AM »
Nothing to add to this thread but just wanted to say it is a cool thread and you are a good poster.

John Hjorth

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Re: Krazy Kommercial real estate around DETROIT!
« Reply #33 on: March 23, 2017, 06:14:18 AM »
To me, both Cigarbutt and Green King are right. Don't give up, DTEJD1997.

Here we have a term for the behavior mentioned by Green King : Cash thinking.

Also, I'm really surprised to read how things are going on at your place about administrative rulings. It really reads like "Klondike" to me.

Here, we have a separate law in place, that embraces all administrative rulings in the public sector, including administrative rulings about taxes: [In Danish: Forvaltningsloven - in English it would something like "The law about public administrative rulings" - without translating directly.

Don't you have such legislation in place in the US, to protect citizen from being run over by the system with access to almost unlimited ressources?

If your case was here, I would just do one swing at the ball to get it on the other side of the net by sending a one line complaint letter to the state level stating that the administrative tax assessment is invalid because of lack of reason, ref. paragraph 22 in the law.
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oddballstocks

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Re: Krazy Kommercial real estate around DETROIT!
« Reply #34 on: March 23, 2017, 07:23:57 AM »
To me, both Cigarbutt and Green King are right. Don't give up, DTEJD1997.

Here we have a term for the behavior mentioned by Green King : Cash thinking.

Also, I'm really surprised to read how things are going on at your place about administrative rulings. It really reads like "Klondike" to me.

Here, we have a separate law in place, that embraces all administrative rulings in the public sector, including administrative rulings about taxes: [In Danish: Forvaltningsloven - in English it would something like "The law about public administrative rulings" - without translating directly.

Don't you have such legislation in place in the US, to protect citizen from being run over by the system with access to almost unlimited ressources?

If your case was here, I would just do one swing at the ball to get it on the other side of the net by sending a one line complaint letter to the state level stating that the administrative tax assessment is invalid because of lack of reason, ref. paragraph 22 in the law.

Ah, the enlightened European attitude once you realize what a mess we have here.  The US in many ways is like a start-up country that hacked a bunch of crap together and got things rolling.  We grew and scaled and became huge but suddenly all of the pieces hacked together are showing they aren't sustainable.  We're trying to become sustainable..

I've had a similar experience with DTEJD1997.  I had a house we purchased for $117k in 2005, it had an assessed value of $80k.  So far so good.  About eight years after moving in we received a letter in the mail, sudden reassessment to $140k, our property taxes almost doubled.

I went to a hearing.  It was a Kafkaesque experience.  I went to some senior center and sat in a holding room.  I waited for 45m and finally asked "when is it my turn?" it turns out they had my name wrong.  No worries, someone would fix it.  I get in there and I sat at a table with some gov worker.  They listened then said "we can't actually do anything, we're just accepting your forms."  But since they were missing my name I had to go to a different table where someone entered information in on a typewriter.  Is it any surprise that they again lost my forms and my appeal was denied?  It wasn't denied because my logic was wrong, probably just all of the record keeping errors.

We sucked it up and paid the higher taxes and then a few years later sold the house for almost $20k over the assessed value.  The value was probably 'fair', but it was also unfair.

In Allegheny County (county Pittsburgh, PA is in) they haven't had an assessment since 2002.  This means there are $450k houses built on farm land that are paying the assessed value of their property from 2002, so a value of $15-20k.  Other PA counties are even worse.  There's one north of us that's very popular for low taxes, their last assessment with approved values was in the 1960s.  Taxes are low because people are paying on 1960s values, it's insane.  I doubt this system is ever fixed because if it was there'd be such massive upheaval that citizens would form to fight it.  So we have the status-quo.
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John Hjorth

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Re: Krazy Kommercial real estate around DETROIT!
« Reply #35 on: March 23, 2017, 08:41:11 AM »
I can't help it ... - I really have to ask: What's the dress code for participants in such hearings/meetings? Bullet proof vest, helmet and bringing your arms? [J/K - lol]

Crazy stuff to read in this topic - thanks all for sharing.

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Off topic:

Here we have a computer system in place to pick up all trading data for real estate deals all over the country, to get real estate valuations as fair as possible, over time.

I think it was about 2 - 3 years ago, it was recognized, that the code in the system was broken. Especially the calculated real estate valuations in the area north of Copenhagen - where the real estate is really expensive - was way off - too high. What next happened was, that the complaint system got flooded with complaints, and blew up totally - it's still down now.

Danish citizen don't take any BS from the Danish Government and Administration - especially not from the Danish IRS. [The name of the Danish IRS is "SKAT", which translate directly to both "HONEY" [and "TAX"], btw.]

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The more I learn from reading this board, the more I get to appreciate my own living conditions here.

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Now back to topic again.
« Last Edit: March 23, 2017, 08:46:11 AM by John Hjorth »
”In the race of excellence … there is no finish line.”
-HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai

DooDiligence

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Re: Krazy Kommercial real estate around DETROIT!
« Reply #36 on: March 23, 2017, 08:49:40 AM »
I'd wear a pink leotard...

-----

I was searching for stories about how Trump has gone about reducing property taxes & found this:

http://money.cnn.com/2016/10/25/news/companies/donald-trump-property-tax-fights/

The headline of the ad isn't the message here.
The message is "you gotta fight on property taxes"

I also like the herd of goats idea (it's at the end of the article...)
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[prepared 2 wait]

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gg

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Re: Krazy Kommercial real estate around DETROIT!
« Reply #37 on: March 23, 2017, 08:54:45 AM »
There are lawyers that specialize in reducing your real estate tax. Typically work on commission based on savings. That is your best option-- don't have to deal with the bureaucracy, and they also already know all the people involved, so they're more successful.

racemize

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Re: Krazy Kommercial real estate around DETROIT!
« Reply #38 on: March 23, 2017, 09:42:55 AM »
Perhaps it is different in Texas, but it has been very straightforward here, and I've owned three different houses.  For my second home, I showed up with my purchase price and the guy stamped it as the value--no questions asked really. 

Since then, I've hired tax guys to go do the negotiating for me and I pay them some percentage of the savings.  It is an amazing deal and almost always results in some kind of savings without me doing anything.

Williams406

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Re: Krazy Kommercial real estate around DETROIT!
« Reply #39 on: March 23, 2017, 09:49:10 AM »
"Danish citizen don't take any BS from the Danish Government and Administration - especially not from the Danish IRS. [The name of the Danish IRS is "SKAT", which translate directly to both "HONEY" [and "TAX"], btw.]"

That's classic: "SKAT" translates a bit differently in English but nonetheless fits closely with how many view the IRS in the U.S. I'd be willing to copy you Danes here and re-name the IRS.