Don’t Tax, But Still Spend
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FacebookFrom Chuck Shepherd’s News of the Weird:
Tax officials in Valparaiso, Ind., admitted in February that they mistakenly valued one house at $400 million (though its previous assessment was $121,900), and even though they re-computed the owner’s bill, they failed to erase from the city budget the $8 million in tax revenue they were expecting from the property, including $3 million that they already had disbursed.
Kinda makes a tax-and-spend politician sound pretty good, don’t you think?
[Source: Arizona Daily Star]
Published on March 2nd, 2006 - 4 Comments
Filed under: Humor, Taxes
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About the author: Nickel is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!
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I hope they didn’t spend that money on pay raises for the city’s tax officials.
Comment by Nick — Mar 2nd 2006 @ 5:01 pmHow were they expecting $8 million from this house? What is that over the next 10 decades?
Comment by RS — Mar 2nd 2006 @ 8:03 pmIt was appraised (incorrectly) at $400 million, so $8 million probably would have been about right (depending on the tax rate).
OMG, now THAT is going to give some of these crooked local politicians and bureaurats some ideas, now they have a way to cover up the money they steal! Juggle some numbers here, add 5 zero’s to the values of some properties there, and what do you know, the money they stole from the County Fund is now magically replaced!
Comment by SkyeBlue — Mar 3rd 2006 @ 7:51 pm