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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: PerryA who wrote (13925)	9/24/2003 5:55:19 PM
From: Tradelite	Read Replies (3) \| Respond to of 306849

Perry, do you not have personal property taxes in your area of the country? In Virginia, we pay annual taxes on all real estate (according to its value) AND personal property, such as cars and boats (according to their value). On a related note... Perhaps someone knows better than I, but believe I recently read that the so-called federal "luxury tax" imposed about a decade ago on items costing more than...I forget the amount, but am thinking $50K...is due to expire or recently expired. This applied to major purchases of Mercedes, Rolls, yachts, jewelry, etc. and hit absolutely no one except the so-called "wealthy." This tax was quite a pain to many people at the time it was introduced, and I recall people scrambling to purchase their cars before it was to take effect, but it seems they got used to the tax after a while, because not much has been said about it in subsequent years.