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Old 09-14-2008, 08:12 AM   #121
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Really ?

Have you cashed out your chips... or are you still letting them ride ?

~
If I cashed out all my chips right now I would have such a large capital gain (yes even in today's market) it would make me nauseous to think of how much in taxes I would have to pay.

As an example, if I cashed out of my entire Janus Contrarian investment, that alone would generate over a $27,000 capital gain. I have 18 other funds that would also give a capital gain and one that would give me a capital loss.

Then what would I do with all that cash? Put it in a money market account or CD earning 3 or 4 percent? I already have about 35% of my portfolio in cash investments doing that for me.

I am very comfortable with the way my investments are allocated right now, except I need to be a little more weighted in real estate, but I'm working on that.
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Old 09-15-2008, 06:37 PM   #122
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Because my stocks were all in retirement accounts,
I was able to switch from stocks to other investments
when stock values were high without the tax consequences.

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Old 09-15-2008, 07:36 PM   #123
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Deflation is catastrophic to any government. ...

Just think what the impact of lower property tax assessments will mean. They are in a total panic.
Lower property assessments would have zero impact in my local taxing district. They take the total of the assessments, then factor the tax by that.

If every home doubled in value, my tax bill would be the same. If every home value dropped in half, my tax bill would be the same. I think most communities work this way, but I don't know for sure. Based on the comments from some of my neighbors, I suspect that a lot of people don't know how their property taxes are structured.

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Old 09-15-2008, 09:02 PM   #124
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Lower property assessments would have zero impact in my local taxing district. They take the total of the assessments, then factor the tax by that.

If every home doubled in value, my tax bill would be the same. If every home value dropped in half, my tax bill would be the same. I think most communities work this way, but I don't know for sure. Based on the comments from some of my neighbors, I suspect that a lot of people don't know how their property taxes are structured.

-ERD50
If you lived in Texas I'd say you were full of sh*t. When property values go up, the pols are beside themselves to tell you the tax rate isn't going up even though you are paying more. They then tell you how every highshool "needs" their own natatorium and new uniforms for every team down to the chess club. If property values drop then you should be happy to have your tax rate go up "for the children."
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Old 09-15-2008, 09:09 PM   #125
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I can't speak for Texas (and I didn't). But that *is* the way it works in my taxing district. Yes, taxes go up for various (mostly bad) reasons, but it is independent of the property assessment. I traded several emails with our county assessor's office last year to confirm this. She said she wished everyone understood it as well as I did. They spend a lot of time explaining this to people.

The assessment determines how the tax is split among property owners, not the amount of taxes collected in total.

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Old 09-15-2008, 09:15 PM   #126
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Lower property assessments would have zero impact in my local taxing district. They take the total of the assessments, then factor the tax by that.

If every home doubled in value, my tax bill would be the same. If every home value dropped in half, my tax bill would be the same. I think most communities work this way, but I don't know for sure. Based on the comments from some of my neighbors, I suspect that a lot of people don't know how their property taxes are structured.

-ERD50
I'm not sure yet how it is here in my new home state (MD), but I can guarantee you it doesn't work that way on VA. The assessments are directly linked to the tax revenue. When the assessments went through the roof, the pols were beside themselves with glee. They started all sorts of new, ongoing spending projects. Now that the home prices (and therefore the assessments) are falling, they are raising the rates to allow the spending increases to stay in place. I'm expecting a bit of a tax revolution to occur. At least a major "throw da bums out" campaign.
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Old 09-15-2008, 10:12 PM   #127
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I can't speak for Texas (and I didn't). But that *is* the way it works in my taxing district. Yes, taxes go up for various (mostly bad) reasons, but it is independent of the property assessment. I traded several emails with our county assessor's office last year to confirm this. She said she wished everyone understood it as well as I did. They spend a lot of time explaining this to people.

The assessment determines how the tax is split among property owners, not the amount of taxes collected in total.

-ERD50
That's exactly how it works in Anchorage too, the city real estate tax, although few here understand it.
We have no State tax. At all.
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Old 09-15-2008, 10:22 PM   #128
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Until the oil runs out.
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Old 09-15-2008, 10:37 PM   #129
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Lower property assessments would have zero impact in my local taxing district. They take the total of the assessments, then factor the tax by that.

If every home doubled in value, my tax bill would be the same. If every home value dropped in half, my tax bill would be the same. I think most communities work this way, but I don't know for sure. Based on the comments from some of my neighbors, I suspect that a lot of people don't know how their property taxes are structured.

-ERD50
That's how it works in my area too. RE taxes are ridiculously high, but we won't pay less in aggregate just because assessments go down. Assessments only determine how much of the total bill each homeowner gets stuck with.
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Old 09-16-2008, 01:05 AM   #130
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Until the oil runs out.
Amen.
People are literally paid to live here in Alaska, with our permanent fund dividend every year to every man, woman and child, and no State income tax.
And yet many people complain that they are paying too much tax.
Did I mention this is a Red state?
It's insane.
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Old 09-16-2008, 03:25 PM   #131
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They then tell you how every highshool "needs" their own natatorium and new uniforms for every team down to the chess club.
Heeeeyyyyy... what's wrong with new uniforms for the Chess Club? They may not be as big & strong as the football team, or get to go to so many neat places, or have crowds cheering in the stands and be seen on TV, or be as popular, or get all the hot cheerleaders-- but they bring home trophies too!!

Never mind, I'll get over it someday...
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Old 09-16-2008, 03:28 PM   #132
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Did I mention this is a Red state?
The Soap Box is that way...
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Old 09-16-2008, 05:55 PM   #133
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Heeeeyyyyy... what's wrong with new uniforms for the Chess Club? They may not be as big & strong as the football team, or get to go to so many neat places, or have crowds cheering in the stands and be seen on TV, or be as popular, or get all the hot cheerleaders-- but they bring home trophies too!!

Never mind, I'll get over it someday...
Hey. I was in the chess club and there was this cheerleader.....

I was also in the drama group so I didn't have total nerd status. I had taken more than the minimum math requirement so I was always suspect.
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Old 09-16-2008, 06:10 PM   #134
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Hey. I was in the chess club and there was this cheerleader.....
?
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Old 09-16-2008, 06:50 PM   #135
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Heeeeyyyyy... what's wrong with new uniforms for the Chess Club? They may not be as big & strong as the football team, or get to go to so many neat places, or have crowds cheering in the stands and be seen on TV, or be as popular, or get all the hot cheerleaders-- but they bring home trophies too!!

Never mind, I'll get over it someday...
I see that chess team mental damage takes many years to unwind. Don't worry. I was on the much cooler computer club. Wait, now I think about it, I didn't even win any trophies.

I think CFB is very unfair to appropriate what is obviously a (possibly the only) computer club cheerleader to cheer the chess team.
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Old 09-16-2008, 08:35 PM   #136
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Chess Club Cheerleader?
Way, way, way too much time on your hands, bunny!
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Old 09-16-2008, 08:37 PM   #137
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Hey. I was in the chess club and there was this cheerleader.....

I was also in the drama group so I didn't have total nerd status. I had taken more than the minimum math requirement so I was always suspect.
I think that thinking that being in the drama group moves you out of the nerd group is a pretty good indication of your overall membership level.

You would have at last needed to be in the band. I remember this one time at band camp...
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Old 09-16-2008, 09:47 PM   #138
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Way, way, way too much time on your hands, bunny!
Eh, it only took a minute. Plus she has great pom poms and terrific core memory.
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Old 09-16-2008, 10:53 PM   #139
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Sorry. My bad.
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Old 09-17-2008, 07:43 AM   #140
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I think that thinking that being in the drama group moves you out of the nerd group is a pretty good indication of your overall membership level.

You would have at last needed to be in the band. I remember this one time at band camp...
Cool being in band? There's nothing wrong with the band but it never raised your HS social standing except with other band members. It was sort of like being in the chess club but with more noise.
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