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Originally Posted by Jupiter Sunsation
(Post 4394034)
Sadly that number is based on the current assessment. Lets say a house is assessed for 10 million, taxes are 2% of value (200K a year). You buy it for 16 million, taxes are now 2% of the higher value (320K a year now). This is a real problem on an old homesteaded home, it holds the tax increases to 3% of assessed value (house assessed for 800K, next year the most it can go up to is 824K (3%). So someone that has lived there for years may have a 10 million dollar home that is assessed for 900K.....current bill 18K a year, new guy buys at 10 million and suddenly taxes shoot to 200K.
Tiger Woods 12 acre oceanfront estate- 900K a year in taxes! This is Celine Dion's house on the same street as Tiger's house. She has a million gallon pool/waterpark on the property. Her place is for sale for 65 million, house is assessed for 19.5 (taxes are 350k a year). Pool guy gets 16,000 a month for service and she employs a staff of 6 full time despite not even living there! If she gets anywhere near asking price the new tax bill will shoot to about a million bucks a year......ouch https://www.youtube.com/watch?v=lhZuW0JJGFg |
Originally Posted by buck35
(Post 4394063)
You know , if you can do the 65 mil for the place I'm just not gonna get too teary about your taxes....
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Originally Posted by Jupiter Sunsation
(Post 4394034)
Sadly that number is based on the current assessment. Lets say a house is assessed for 10 million, taxes are 2% of value (200K a year). You buy it for 16 million, taxes are now 2% of the higher value (320K a year now). This is a real problem on an old homesteaded home, it holds the tax increases to 3% of assessed value (house assessed for 800K, next year the most it can go up to is 824K (3%). So someone that has lived there for years may have a 10 million dollar home that is assessed for 900K.....current bill 18K a year, new guy buys at 10 million and suddenly taxes shoot to 200K.
Tiger Woods 12 acre oceanfront estate- 900K a year in taxes! This is Celine Dion's house on the same street as Tiger's house. She has a million gallon pool/waterpark on the property. Her place is for sale for 65 million, house is assessed for 19.5 (taxes are 350k a year). Pool guy gets 16,000 a month for service and she employs a staff of 6 full time despite not even living there! If she gets anywhere near asking price the new tax bill will shoot to about a million bucks a year......ouch https://www.youtube.com/watch?v=lhZuW0JJGFg Not sales price, 2% tax assesed value dude. A pretty decent difference. Either way, if you can afford it, you arent complaining. |
Originally Posted by Keith Atlanta
(Post 4394084)
Not sales price, 2% tax assesed value dude. A pretty decent difference.
Either way, if you can afford it, you arent complaining. |
Rich people problems
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Looks like they found a safe ..... but then lost it again. They also found a package with a unknown substance inside.
http://www.nbcmiami.com/news/local/P...365753951.html |
Originally Posted by f_inscreenname
(Post 4397079)
Looks like they found a safe ..... but then lost it again. They also found a package with a unknown substance inside.
http://www.nbcmiami.com/news/local/P...365753951.html Reality is, if there was a safe in the house and they thought it was important they wouldn't have waited months to check it out. Part 2: if they did find something valuable then why would you publicize it? The US Govt would want to seize it, Pablo's relatives could argue it was their inheritance or any of Pablo's US creditors would say it is theirs. :eek: |
Originally Posted by Jupiter Sunsation
(Post 4394034)
Sadly that number is based on the current assessment. Lets say a house is assessed for 10 million, taxes are 2% of value (200K a year). You buy it for 16 million, taxes are now 2% of the higher value (320K a year now). This is a real problem on an old homesteaded home, it holds the tax increases to 3% of assessed value (house assessed for 800K, next year the most it can go up to is 824K (3%). So someone that has lived there for years may have a 10 million dollar home that is assessed for 900K.....current bill 18K a year, new guy buys at 10 million and suddenly taxes shoot to 200K.
Tiger Woods 12 acre oceanfront estate- 900K a year in taxes! This is Celine Dion's house on the same street as Tiger's house. She has a million gallon pool/waterpark on the property. Her place is for sale for 65 million, house is assessed for 19.5 (taxes are 350k a year). Pool guy gets 16,000 a month for service and she employs a staff of 6 full time despite not even living there! If she gets anywhere near asking price the new tax bill will shoot to about a million bucks a year......ouch https://www.youtube.com/watch?v=lhZuW0JJGFg |
Originally Posted by Smarty
(Post 4397285)
That is insane, if you got it more power to ya.
You didn't have a fire or need the cops, your kids don't go to the public school, they didn't go to the county library, etc. and this is just property taxes, so you still have to pay to "operate" the house (lawn/gardeners, pool/house cleaners, window washers.....whoever) plus the utilities, insurance etc. My uncle recently sold a 7mm house in Harbor Beach (east Ft Lauderdale). House was great, one lot off the ICW right behind Pier 66. Taxes were 130K a year, insurance was 35K a year (with a huge deductible), electric bill was 7K a month (with the yacht docked there). The fish tank guy was $800 a month! At some point everyone just says enough is enough! House was approaching 10 years old and AC units (all 10) were the next big replacement item so he decided a condo would suit his needs better. |
Originally Posted by Jupiter Sunsation
(Post 4397260)
The owner's wife is/was a TV reporter in Miami. I think they are hyping the history/mystique to get publicity about the house. They have been trying to "flip" the lot for almost 2 years (paid 14 million, asking 21m now). BTW the new house design blows.
Reality is, if there was a safe in the house and they thought it was important they wouldn't have waited months to check it out. Part 2: if they did find something valuable then why would you publicize it? The US Govt would want to seize it, Pablo's relatives could argue it was their inheritance or any of Pablo's US creditors would say it is theirs. :eek: |
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