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Pastimes : Let's Talk About Our Feelings!!! -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (66470)	12/13/1999 1:48:00 PM
From: Ilaine	Read Replies (1) \| Respond to of 108807

I guess one consequence of the law is that people don't have to sell their homes because they can't afford the property tax, and they don't want to sell their houses because of the cap. So there are fewer houses on the market, not as much turnover, which probably drives up the prices of the houses that ARE on the market. Human nature being what it is, probably there are people living in the houses now who did not live in them in 1979, but have some kind of arrangement with the owner to avoid having the property reassessed. Oh, well, not my problem.

To: Lizzie Tudor who wrote (66470)	12/13/1999 2:29:00 PM
From: Ish	Respond to of 108807

<<The house has probably appreciated in value from 50K to 650K. Paying $300 then and $350 10 years later ... sheesh. >> Makes sense to me. The original owners who are under the caps bought a home they could afford. If someone else wants to pay $650k plus the taxes for a similar home, let them. The $50k home is still a $50k home as long as it's not sold and the $600k gain realized. Kinda reminds me of an auction I went to. There were 3 combines that were similar. The first two sold for around $6k because the some of the buyers were thinking that when the other bidders had bought they could buy the last one cheaper. Trouble was there were two buyers left who both needed a combine and only one combine. That one went close to $15k. It was as fair as a gentle rain in a dry summer. They all played by the same rules.