Don’t Tax, But Still Spend
From 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
email this article
- add to tip'd - stumble it - digg it - bookmark it
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!
Related articles...
» Don’t Miss These Tax Breaks, Part 3» Don’t Miss These Tax Breaks, Part 2
» It’s Okay to Spend Money
» Don’t Be Afraid to Ask for a Discount, The Sequel
» One Year Ago This Week (February 11th – February 17th)
» Don’t Miss These Tax Breaks, Part 1
» Checkbook Security: Keep an Eye on Your Checks!
» Money Tips from Twitterville
Was this article useful? Please sign up to receive our content via e-mail:
Great deals...
Readers’ choice...
Recent articles...
- Did Congress Make the Homebuyer Tax Credit Retroactive?
- Congress Extends $8000 Homebuyer Tax Credit, Adds New $6500 Credit
- Lending Club Update - October 2009 Performance
- How Much to Budget for Car Maintenance?
- Series I Savings Bonds Now Paying 3.36%
- Use Weight Loss Strategies to Get Out of Debt
- Weekly Roundup - Disney Shanghai Edition
- How to Save Money on Vacations
- Most and Least Reliable Cars - 2009 Edition
- Get 100 Free Trades from OptionsHouse Brokerage
Recent comments...
- Penny: I am about to purchase a new home.. which will be my new residence...
- APRIL DAYS: I FOR ONE HOPE THAT THE FIRST TIME HOMEOWNERS TAX CREDIT IS EXTENDED BECAUSE...
- JB: I drive a 1999 car and save $60 a month for car repairs, oil...
- Greta: My significant other and I bought a house in February 2009. My boyfriend...
- Jay: Don't forget nCleaner 2nd for turning off widows firewall and windows defender...also use the...
- Bryan: @Doug - you said it... if you simply delayed the closing, it would have...
- Sympathetic Dish TSR: @ Bonnie: Is your HD tv a Flatscreen LCD style? If so then a...
- John DeFlumeri Jr: Thanks for explaining the tax credit. Too bad for those who purchase in...
Most talked about...
- Dave Ramsey is Bad at Math
- $8,000 Homebuyer Tax Credit
- Dish Network Customer Service SUCKS
- How to Claim the First-Time Homebuyer Tax Credit
- $15,000 Homebuyer Tax Credit
- Reduced Credit Limits? Share Your Experience
- Would the "Fair Tax" Gut the Economy?
- Tax Stimulus Rebate Payments to Start Early
- Pay Off Mortgage Early? Or Invest?
- The Best Online Savings Accounts (Updated!)
- Life's Too Short to Drink Cheap Beer
- $7500 First Time Homebuyer Tax Credit
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