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View Diary: MA-Sen: Gomez Tax Deduction Beginning to Erode His "Media Darling" Status (64 comments)

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  •  There was a second assessment in 2005 (6+ / 0-)

    per the Town, and the value went down by $232,000.  That's not necessarily the easement, but it's awfully suggestive that it is.

    •  Interesting (2+ / 0-)
      Recommended by:
      elwior, SadieSue

      His deduction still exceeds that by 50K. I wonder why the town would go for this, and I wonder why he didn't just come out with that defense ("The town recognized the drop in value."). Maybe because the deduction exceeds the reduction in assessment by 50K.

      Republicans...think the American standard of living is a fine thing--so long as it doesn't spread to all the people. And they admire the Government of the United States so much that they would like to buy it. Harry S. Truman

      by fenway49 on Fri May 10, 2013 at 12:26:18 PM PDT

      [ Parent ]

    •  More interesting yet (2+ / 0-)
      Recommended by:
      elwior, SadieSue

      The home went down by $232K in the second 2005 assessment, then back up by $400K in the next assessment in 2006. The "loss" didn't last long. What's interesting here is that the $281K and the $232K are far above 15% of the assessed value of $1.4 million. 15% is the upper limit of what's been accepted.

      It's true that the assessed values over the years are odd. The house goes way up in value at a time (2007-2009) when market prices, even in Cohasset, were dropping.

      Republicans...think the American standard of living is a fine thing--so long as it doesn't spread to all the people. And they admire the Government of the United States so much that they would like to buy it. Harry S. Truman

      by fenway49 on Fri May 10, 2013 at 12:31:46 PM PDT

      [ Parent ]

      •  Zillow shows House purchased 2004 for $2.1 mil (2+ / 0-)
        Recommended by:
        SadieSue, VClib

        and shows about that value in 2005

        see  http://www.zillow.com/...

        Keep in mind market value is not the same as assessed  value.

        The most important way to protect the environment is not to have more than one child.

        by nextstep on Fri May 10, 2013 at 01:13:17 PM PDT

        [ Parent ]

        •  In Massachusetts (0+ / 0-)

          assessed value is supposed to be the same as market value. I believe towns were falling behind at some point and there was a concerted effort to bring the two in line around 2008.

          In any event, I've seen nothing so far indicating market value went down at all from his easement donation, let alone by 281K. It seems he didn't ask the town to revisit, and lower, his property taxes. If my house had (legitimately) lost 15 percent of its value or so, I'd ask for a new assessment. Operative word is "legitimately."

          Republicans...think the American standard of living is a fine thing--so long as it doesn't spread to all the people. And they admire the Government of the United States so much that they would like to buy it. Harry S. Truman

          by fenway49 on Sun May 12, 2013 at 06:16:58 AM PDT

          [ Parent ]

    •  That's an assessment not an appraisal. (4+ / 0-)
      Recommended by:
      elwior, nextstep, fenway49, CoyoteMarti

      Sometimes they're closely related, sometimes not.

      "What could BPossibly go wrong??" -RLMiller "God is just pretend." - eru

      by nosleep4u on Fri May 10, 2013 at 12:42:53 PM PDT

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      •  Right (1+ / 0-)
        Recommended by:
        SadieSue

        Here there has been a movement to make them match more closely. In Cohasset, the 2004 assessment on the house was $1.26 million and the house sold for about $2 million that year. Assessments the last few years have been in that ballpark.

        Republicans...think the American standard of living is a fine thing--so long as it doesn't spread to all the people. And they admire the Government of the United States so much that they would like to buy it. Harry S. Truman

        by fenway49 on Fri May 10, 2013 at 01:47:16 PM PDT

        [ Parent ]

    •  Actually, no, as it turns out (2+ / 0-)
      Recommended by:
      SadieSue, VClib

      I looked up some more houses in Cohasset and all of them (including a contemporary built in 2002 that certainly is not historic) had two 2005 assessments, the second being far lower than the first.

      Republicans...think the American standard of living is a fine thing--so long as it doesn't spread to all the people. And they admire the Government of the United States so much that they would like to buy it. Harry S. Truman

      by fenway49 on Fri May 10, 2013 at 01:19:59 PM PDT

      [ Parent ]

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