[AT] Subdivision Development

[Dean VP]

These states, cities, counties are going to get there money somehow. Walt
lives in a state that doesn't have a state sales tax but does have an income
tax. I live in a state that has one of the highest state sales taxes but no
state income tax. 

Out county assessors are limited to a % of assessed value relative to taxes.
If they can't survive on that limitation they just raise the assessed
valuation. It's all a game. Sooner or late the home values will be so high
working folks won't be able to afford them and retired folks will have to
move out because the taxes are too high.

Sooner or later it will all get corrected by market forces.    

Dean A. Van Peursem
Snohomish, WA 98290

I'm a walking storeroom of facts..... I've just lost the key to the
storeroom door 


www.deerelegacy.com

http://members.cox.net/classicweb/email.htm



-----Original Message-----
From: at-bounces at lists.antique-tractor.com
[mailto:at-bounces at lists.antique-tractor.com] On Behalf Of Dave Ernst
Sent: Friday, December 03, 2004 4:43 PM
To: Antique tractor email discussion group
Subject: Re: [AT] Subdivision Development


----- Original Message ----- 
From: "charlie hill" <chill8 at cox.net>
To: "Antique tractor email discussion group" <at at lists.antique-tractor.com>
Sent: Friday, December 03, 2004 11:26 AM
Subject: Re: [AT] Subdivision Development


> We have the same thing here Walt.  It is referred to as use tax.  Meaning 
> that the land is taxed according to it's use.  Agricultural use land is 
> valued at a much lower value than the same tract would be if it were 
> bought by a developer and left idle.  ( I know that doesn't make sense but

> that's what they do.)   The only catch to it is this.  If you are a farmer

> or developer who continues to farm a tract and keep it under ag use and 
> you decide to turn it into a subdivision, etc. then they go back for 3 
> years, recalculate the value and make you pay the difference in the taxes.
>
> Charlie
Interesting to note in this discussion is no mention of depreciation.
The country here is primarily agriculture except the encroachment by 
subdivisions.
If I choose to sell to a developer they do the same thing here, charge back 
taxes
like Charlie said. But as far as agricultural machinery goes, we are
allowed a 7 year depreciation schedule, and that helps a lot,
and the sales tax on machinery related to agriculture is 2% in this state.
Dave 


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