Thursday, May 15, 2008

Carrots Please

My downtown property was just reassessed at a value of $478,000, from $252,000 a year ago. The main reason for this increase is that I invested in my building, converting a large empty space into two apartments. So starting next year, my property taxes will go nearly double to about $10,000. This increase will take a huge bite out of the profit I had hoped to gain by working and investing.

Now my point here is not merely to complain about my situation. Rather, it is to question our collective approach to development here in Racine.

If you look around Racine, you will notice a few things. You will notice areas where properties are in poor shape, ie low property value. You will also notice a near total absence of undeveloped areas, such as farms. As such, if Racine wants to increase its property tax base, it is imperative that existing properties be upgraded.

Presently, property owners who are allowing their properties to decline in value are subject to the property police, called UNIT, and their unconstitution fines masquerading as fees. Those who invest in their properties will be slammed with huge tax increases.

The city has a stick only approach to development. How about some carrots?


Caledonication said...

If I were a sneaky, under-handed politician, this would be the carrot, the stick and the hammer...

1. I would offer financial support to property owners to update/improve their investments.

2. I would tax the hell out of them, as the properties would now have more value.

3. I would use the money to purchase more greenspace.

(OMG, I hope nobody decides to follow this model.)

Anonymous said...

I think our entire taxation model is wrong.

The more productive you are, the more money you make, the more expensive a home you can afford.

You are also less likely to generate costs to government or society the more affluent you are. The more money you make, the less likely you are to commit crimes or be arrested, and if arrested, to rely on taxpayer funded legal help. The more money you make, the less likely you are to collect welfare (obviously), or be an indigent patient at the emergency room. The more money you make, the less likely you are to use public schools, and the more likely you are to pay for private schools.

I think we ought to tax people more in relation to the costs that society bears for them. I am sick of my tax dollars subsidizing the irresponsibility of others. It's about time they bore those costs themselves.

Anonymous said...

Why didn't you use all the illegal aliens you could find to do the renovation work? That would have taken the sting out of the increased taxes. If caught, you could have had the Mayor stand up and criticize the complainers for being "insensitive to people who look a little different" or whatever it was. You could also open an overseas account, like that working man of all working men - John Edwards.

Anonymous said...

I live in a poor area of Racine there is no way I could sell my home for the money the City claims it is worth.
How nice it is for the Mayor (who needs to be recalled) to be able to hike taxs

Anonymous said...

It's capitalism, stupid. Most of my friends don't have money to upgrade their dweelings - let alone own other property.

Wecome to serfdom - Republican style.

Nemo said...

Question for you Anon 10:12. How does Racine slamming taxpayers if they fix their properties and if they don't relate in any way to capitalism? The problem is socialism, stupid.

Andy investing shaw said...

Your idea is some what ok. But just have a prior knowledge before investing your value able money and property on some thing and have a advice from the senior property advisor.