Re: Dixon Leasing Cheating JC out of Taxes with the help of Rebecca Sysmes
Posted by JC_GeeGee on 2017/4/20 23:41:13
You mean that the tax would skyrocket AFTER the abatement expires right? If this is the case then Dixon banked on the delayed reval to keep taxes low for a while but it should not prevent their properties from being reassessed and them paying a higher rate right post-reval. They could refuse to have their properties visited and argue out of partial renovation paperwork (if they did so) but I am sure it would backfire considering they have rented many of them and people know what's inside. The goal for Dixon as part of the HCA maybe to cool people down post-reval and get as much info on people's properties to do the right appeals if they can. At this point my position on them has turned to neutral.
No, not after the 5yr abatement expires..... more like shortly after JC processes the paperwork that is filed in order to receive an abatement. If you apply for an abatement post renovation work, your property will be reassessed using recent comps. Your new tax bill will be based on this new assessment less any abatement they grant you. If you do any significant improvements, your new assessment (even with an abatement) will likely be much more than your old assessment so your taxes will go up prior to the abatement expiring. You will pay even more taxes after it expires.
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