Thursday, August 03, 2006

Revenge of the Taxman

Some of my long time readers might remember this post from when I mentioned my dealings with a certain organization called the MPAC. Back then, in Nov '05, they had assessed the value of our property at $49K, which was way off the mark.

At the time, I decided to keep quiet about it, and pay my taxes at the $49K rate, which was pretty sweet at the time cuz it allowed us to keep some extra cash in the bank. However, I knew that fate would eventually catch up with me.

So, as you've guessed by now, fate has caught up with me. And so has the Taxman. So now I owe back taxes at the correct rate retroactive to June 13/05 from when we bought our house. It's quite a hefty bill. Put is this way, it's double what we paid for our honeymoon in Cuba. Ouch.

So in true Simpson's fashion, there's only one thing left to say: Ha. Ha.

10 comments:

Ferda said...

oh how I hate the taxman...

Palmer said...

Can you get them to reassess now?

ADAM DONALD from MPAC said...

I told you I'd find you...

And you thought I'd let you get away with it?

I eat suckers like you for breakfast!

BOOOOOO-ya.

Jen said...

Boo-urns! That stinks!

But at least look at it this way, if you ever sell your house, you'll get more than $49k for it. That's a good thing right?

AquariusDragon said...
This comment has been removed by a blog administrator.
AquariusDragon said...

Pimpsons! Property taxes SUCK! And the worst part is that they're based on the REAL ESTATE MARKET. So, in actuality, we're paying taxes at INFLATED prices. If anything it should be based upon what was actually PAID for the house rather than this nonsence of letting the real estate market determine the value... agents are all about higher prices because that means more for their pockets!! I'm not even started on this topic!!! ARG!

James said...

Our assessment is at the true, correct, market value. There's nothing that can be done.

Technically, I should be happy, cuz I got to keep that money for a year and collect the interest in my bank account.

But it does suck to drop a big wad of cash like that when it seems like you are getting nothing in return.

Anonymous said...

You're right - you can't beat the system (and as a system manager you should know!). I guess the first assessment was a preliminary one based just on the value of the land before they got round to adding the value of the house later built on it - takes a while for officialdom to do these things.. At least you now know what to expect next year!

And as someone else said, havn't you done well to have such a valuable asset!!!

Jack

Anonymous said...

and as Aquariusdragon says, the whole basis of local taxation is wrong; About fifteen years ago, when PM in UK, Thatcher tried to rectify this by changing the local tax from one on the property to a much more logical head tax on the inhabitants of the property. But that meant enormous extra payments from the poor living ten to a small house and much less for the rich living two in a mansion. (Of course it helped the poor little old widow living on her own in the old family house). However thatnearly caused a revolution and the system had to be changed back again virtually to the old one,which is rather like ours.

Jack again

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