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Hestia

(3,818 posts)
5. There are some further Laws of (Un)Intended Consequences from sales like these
Fri Feb 11, 2022, 12:39 PM
Feb 2022

Remember back oh 15 years ago or so with the Housing & Mortgage Crisis that was crammed down our throats? Flippers and other predators created their own system - MERS - to not have to pay Personal Property Taxes & Fees for the sales of homes. It decimated County Treasuries instead of topping them up, as should had happened. It's when the hollowing out and real destruction of our cities happened, i.e., no road work, no infrastructure upgrades, etc. Counties are still tied to the lack of funding and lack of Real Estate Taxes, most likely in your area. It's why a dilapidated house that is falling in is still on the PP Tax Rolls. Counties can't afford to tell the truth about what the actual Accounts Receivable (lack of) funding is/isn't and can't afford to have it come out.

What really scares me now is all the empty retail buildings sitting empty. Corps are trying to get out of paying the Empty Structure PT that is assessed. That is really going to come back and bite homeowners asses in 5 years. We'd already been assessed for the value of our home just a year or so ago and the County can't raise taxes for 5 years.

What I don't get is why Metro Plan allows for the rape and destruction of new retail spaces (bulldozers knock down each and every living thing on a lot, causing pollution via storm water run off) instead of making these "job creators" to rehab and reuse what is already out there.

Living through that first nightmare (long, personal story) of 2005-2012 of Mortgage Crisis, actions such Zoom will be our new nightmare. Actions such as in the OP need to be stopped in their tracks, 'cause you know the saying, shit rolls downhill right onto us.

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