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Thoughts Online Magazine
Collected Articles on Culture & Politics
Stupid Supreme Court Tricks 
23rd-Jun-2005 07:20 pm
Latest one: All property, no matter who owns it, is for sale to any corporation that promises your city or county to pay more in taxes than its current owner, whether that owner wants to sell it or not.

I'm not kidding.

That's the law of the land. The bigger corporations can now buy any property they want to, provided they can convince the city that they would pay more for it.

What does this mean for property owners?

Get good at estimating the direction of development, and do a 1031 exchange out of there before you get paid pennies on the dollar for it in eminent domain.

The worst part? This decision (your property is held at the pleasure of real estate developers) was decided by the LIBERAL justices. Time to root for more justices who think the other way.
24th-Jun-2005 06:10 am (UTC) - Crikey...
Who'd have thought that having property that paid too much in tax is a good thing?
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