--- In AsburyPark@yahoogroups.com, "wernerapnj" <[EMAIL PROTECTED]> wrote:
>
> ---
> Temporary was discussed as 5 years I believe. The work completed certainly
> does not
> appear 'temporary' and it may be a loophole being used to avoid paying
> Property
Taxes.
>
One of first thing an investor can do is to look to reduce or eliminate
expenses. Real
Estate Taxes are one of the largest expenses that investors try, or should look
into,
reducing. On a temporary basis, is may be ok. If it (the reduced taxes) become
permanent
- then the city goes deeper into a hole. Like GM, Ford and the rest - "but we
have a
plan....this time, we swear we do..."
In land banking, since the land has no value into built upon or sold, one must
eliminate
any buildings that cause an expense. A lot is considered undeveloped land. That
is, until
you put a PARKING LOT ON IT that should be taxable.
What were/are the taxes and tax abatements granted on the buildings? What are
the
taxes on the "new" first ave pav? How much is abated? For how long?
Are the cans taxed? Or are they temporary. It's not temppary when attached by
one or
means to the ground....
The city should have an ordinance that if a building is removed for the purpose
of
building in the future, then a % of the taxes prior to removal REMAIN and
increase y to y
as incentive for the property to be redeveloped or taxes recaptured. Like
farmland that
goes to development.
The city cannot provide services without taxing for it.
Springsteen and the State can't support it forever.
Lucky there's good people and programs to support recreation programs like
little league
or soccer. Without it who would fund the programs? Taxes??
What if every city employee donated one of their accumulated "sick day" back to
one of
the rec programs? Like to see one of the math gurus come up with what that
number is.
Guess.
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