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

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

    but assessed value in 2005, per the town, was "only" $1.4 million. The deduction represents 20% of that, more than has been allowed generally.

    It seems the town went along with a revised 2005 assessment showing a drop in value (still 50K less than he claimed), but then it went up to $1.6M7 in 2006, $1.94M in 2007, and over 2 million since then.

    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 12:56:53 PM PDT

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    •  Be careful with assessed values (0+ / 0-)

      In CT assessed values are 70% of appraised values which means that if the house was assessed at $1.4 then it was really worth $2 million.

      This is your world These are your people You can live for yourself today Or help build tomorrow for everyone -8.75, -8.00

      by DisNoir36 on Fri May 10, 2013 at 03:20:15 PM PDT

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      •  Never mind (2+ / 0-)
        Recommended by:
        fenway49, SadieSue

        in Massachusetts the assessed value is 100% of market value as of January 1 immediately preceding current fiscal year.  So the assessed value for fiscal year 2013 is based on the that happened between 1/1/11 and 12/31/11.

        This is your world These are your people You can live for yourself today Or help build tomorrow for everyone -8.75, -8.00

        by DisNoir36 on Fri May 10, 2013 at 03:34:40 PM PDT

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        •  DAMN. correction (1+ / 0-)
          Recommended by:
          SadieSue
          So the assessed value for fiscal year 2013 is based on the that happened between 1/1/11 and 12/31/11.
          Should read

          So the assessed value for fiscal year 2013 is based on the SALES that happened between 1/1/11 and 12/31/11.

          This is your world These are your people You can live for yourself today Or help build tomorrow for everyone -8.75, -8.00

          by DisNoir36 on Fri May 10, 2013 at 03:39:09 PM PDT

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