Steve <[EMAIL PROTECTED]> wrote:
Wanna talk Tax Ratables? Fishman and our City is giving these super rich persons a 50% Tax Deduction for 5 Years, and a 25% Deduction the following 5 Years! Where will the difference come from ......... YOU, the current Tax
Payers! Why should Rich People who pay less than 10% Federal Tax get TAX Breaks on $1 Million Summer Homes?
You're absolutely correct! In fact, I'll add to it.
.
Correct me if I am wrong
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If I was to buy a condo for 500,000 I would be pay tax on a value of 500,000 without the abatement. With the abatement I would be paying tax on a value of 250,000 for that same condo. My home in asbury is worth $450,000 but I am paying tax based on a value of 100.000. Who has the better deal? Until the town is appraised I think the current owners make out better. Especially since the tax per $100 is so high in Asbury.
Am I missing something? Seems to me that this was a needed step
inorder to sell the units Otherwise they would be taxed too high.
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