New Orleans Recovery is DEAD

[hummtide]

Tax assessments went out this week. My cousin who lives off St Charles in the Garden District had her home she bought in 2004 for $164,000 and appraised for $279,000 last year (they didnt flood) saw their tax bill balloon from $880 to $11,410 for 2008 off an assessment of $830,000. How in the hell do they expect people to pay this? I mean its literally Florida of 2004 thru 2006 all over again... first the homeowner insurance zooms up 300%+ then the property taxes leap in some case more than 1,200% And her neighbor who bought their home in 1990 for $188,000 and last appraised this year for $675,000 had an assessment for 2008's taxes of $1,400,000, and her neighbors tax bill is over $23,000!

[angelatc]

That's obscene. I'm just speechless.

[AnotherAmerican]

There isn't an expletive strong enough to describe what I'm feeling about this. Is there any way to contest the assessments?

[Johnnybags]

How to correct it is to burn down city hall!!, or the house!!

[james1906]

disgusting. do they really think people can pay this?

[ChooseLiberty]

New Orleans was always a bizarre place unrestricted by that pesky rule of law concept.

Sorry to have to say it, but I assume they were, ah, "Caucasian"?

[american.swan]

You think that's bad.

haha....it's been that way for years in South Korea and it just got worse. The best thing to do in that situation is sell the house take the extra cash and make someone else pay the tax; take the profit and build a better home in a cheaper state. Dang, over 1,000,000; sell; live off the interest of that.

Let me give you an example of South Korea. First off, either the working class of Korea hates the rich for no reason, or the rich are arrogant and deserve to be hated either way, the president put into effect a law that nearly 50% of the sale value of a house is tax. Why? because you didn't "EARN" the increase in value of your home.

My father-in-law bought a home for about $180,000 30+ years ago...tax no problem. Right! Today the house is worth nearly $2,000,000 and the tax is more then a partially-retired man's income, and on top of that if he tried to sell to pay the tax, he looses 50% of the sale price approx.

NUTS!!!!

Result: Most people are waiting and partially protesting about it. The current poor-mans admin ends soon and they are hoping a new more "rich" friendly pres gets in to eliminate the approx 50% tax on the sale of homes.

[Brandybuck]

There isn't an expletive strong enough to describe what I'm feeling about this. Is there any way to contest the assessments?

Years ago in California we citizens passed Proposition 13. It prevents property taxes from being raised on homes. The only time the government gets to reassess a home for property tax, is when the home is sold. California is a weird ass wacky place, but sometimes we do the right thing.

Just copy our proposition, and put it on your state referendum.

[Man from La Mancha]

Years ago in California we citizens passed Proposition 13. It prevents property taxes from being raised on homes. The only time the government gets to reassess a home for property tax, is when the home is sold. California is a weird ass wacky place, but sometimes we do the right thing.

Just copy our proposition, and put it on your state referendum.

But your children won't have a house because they can't afford one or afford the taxes on your home. Isn't the property reasset when you die and willed to your children.

.

[AnotherAmerican]

But your children won't have a house because they can't afford one or afford the taxes on your home. Isn't the property reassesed when you die

Yup. You got it. It's like rent control for homeowners. All the usual arguments against rent control apply, too.