posted
What's actually sort of amusing in a grim way is that there would be nearly no proposals which would meet the SC's test that would involve condemning substantial areas of rich neighborhoods -- the large amounts of property tax revenue brought in by those areas would be extraordinarly hard to justify losing for future development.
Posts: 15770 | Registered: Dec 2001
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posted
That's hilarious. Let's take the property from all five of the judges. That's probably the closest thing to justice that could come from this crap scenario.
posted
But in California, fugu13, property values for the purpose of calculating property taxes are frozen at the price of the last sale. Which means that nearly every home or business would generate more property tax revenues if it were resold. With rare exceptions, the wealthier the neighborhood, the greater the percentage of differential between property tax valuation and the real appraised property valuation.
What's even cuter is that a person could put in an absurdly low bid for a piece of such property, file a request for eminent domain seizure upon the home/business owner's refusal, then legally encumber the property with a liens making it impossible to sell the property or use the property as collateral for a loan.
Posts: 8501 | Registered: Jul 2001
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