Deseret News | Reader comments: Be a tax watchdog

Reader comments
Be a tax watchdog

Doug Slater | 5:18 a.m. Oct. 16, 2007

My biggest problem with property taxes is that my home isn't worth anything more until I sell it. If I sell it at a profit, government then wants a tax on the "capital gain" realized between what I paid for it, and what I sold it for. I am still "renting" my "paid for" property and the rental is nearly as much as the mortgage payments I paid for years. They call the reassessment "potential"..when I asked once if I could pay the tax bill with a check on the potential..guess what they said? I then told them they were the only ones I know that could bank "potential". I couldn't!

Chris | 7:23 a.m. Oct. 16, 2007

Houses are illiquid, but not perfectly so. A second mortgage is not a sale, and yet value can moved from the real property into cash this way. Reverse mortgages also do not sell the house but move equity. Ignorance of the financing options may be the problem, but of course that links to the sub-prime financing mess.

Dutchman | 7:53 a.m. Oct. 16, 2007

Yes, a lot of the current property tax increase is due to voter approved bond initiatives and I dare say the Deseret Morining News editorial board supported everyone of those initiatives. Warning: Salt Lake City residents do not vote for the $195 million public safety complex or another huge tax increase is on the way!

Comments continue below

Anonymous | 8:27 a.m. Oct. 16, 2007

This wishful thinking is a huge part of the problem. Truth in Taxation does not work thanks to the Real Estate Association lobby. Please wake up and read your own ariticles from last year on the subject. 6% is still three times the rate of inflation and the rate at which most Utahns received pay increases. Be a pro active part of the solution for change instead of a willing partner of the problem.

CP1KL | 9:14 a.m. Oct. 16, 2007

Des News got it right on. This editorial makes clear some things that most of the public is ignorant about. Thank you for responsibly trying to educate the public and get most people off of the unfounded public clamor.

Anonymous | 8:11 p.m. Oct. 16, 2007

Dutchman- I agree- DON'T VOTE FOR THE PUBLIC SAFETY BOND! IT Won't put more officers on the streets, just more in a building that's way over priced!
The price tag for that is OBSCENE! how arrogant to ask for so much for so few people.

Add your comment

Comments are monitored. Any comments found to be abusive, offensive, off-topic, misrepresentative, more than 200 words or containing URLs will not be posted.

Words Remaining

E-mail address: For internal use only. We may want to contact you to publish your comment (not your e-mail address) in the newspaper or for a separate story idea.