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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (110441)	4/8/2010 11:27:34 AM
From: DebtBomb	1 Recommendation Respond to of 116555

Celente back on Fox news....we'll be Greece soon, IMO. It's the bailout bubble and the greatest depression and the second american revolution. youtube.com

To: mishedlo who wrote (110441)	4/8/2010 12:12:54 PM
From: Jim McMannis	3 Recommendations Respond to of 116555

Property Tax Rebellion Brewing After Real Estate Collapse Local Property Taxes Bloated Because of Assessment Lags abcnews.go.com Never judge a house by its tax bill. That's the lesson Don Newby, 65, is learning. As the April 15 deadline looms, Mellody Hobson offers income tax tips.The construction manager from Gibbsboro, N.J., is paying boom-era property taxes on a home that has lost 20 percent of its value in the past three years. He blames the Gibbsboro tax authorities, who haven't reassessed property values in the town since 2003. "That's absurd," says Newby, who pays $14,000 a year in taxes on a four-bedroom, bi-level modern house in the New Jersey township near Philadelphia. Newby, who was unemployed for a year after the economic collapse, says he believes the government is intentionally delaying new assessments to benefit from the lag as long as possible. "When you watch how property values have come down, it appears I could save almost $2,000 in taxes," he says Costly Lag in Assessing Property Values Americans grumble that local tax assessors haven't caught up with the real estate downturn, leaving homeowners with unfairly high property taxes. Many disgruntled homeowners including Newby are challenging authorities, either by appealing their tax bills or mobilizing groups to push for tax-law overhaul. The National Taxpayers Union, a Washington-based advocacy group, estimates that 30-60 percent of homeowners are over-assessed each year.