The Jordan Love Era Begins

[rmontro]

Simply put, your property taxes are fixed and tied to the assessed value of your home/land. Your taxes will go up or down, based on the needs of the taxing entities where you live. An increase in your home/land value does not necessarily mean an increase in your property taxes.

Okay, but I don't live in Wisconsin, I'm in Indiana. My assessed property value has been going up, and the associated taxes owed have been going up right along with it. More than a little annoying.

If you're trying to say the percentage doesn't actually go up, you're right, but the money I owe does.

 

[Pokerbrat2000]

Okay, but I don't live in Wisconsin, I'm in Indiana. My assessed property value has been going up, and the associated taxes owed have been going up right along with it. More than a little annoying.

If you're trying to say the percentage doesn't actually go up, you're right, but the money I owe does.

While I can't say that I know a lot about how Indiana taxes home/land owners, the little I just read about it, makes me think that it is pretty crazy with the cap rules. Which limits the amount of property taxes to 1% of property values for homesteads (owner-occupied), 2% for other residential property and farmland, and 3% for all other property. This is basically a capped system favoring wealthy people. So maybe that is why you are seeing increases every year, you are helping to pay their "fare share".

Even with that though, if the assessed value of your home is rising, it's actual market value is probably rising too. So you should feel good about your growing investment, maybe higher taxes, but more money when you sell.

 

[AmishMafia]

Likely over half because in most states you can't spend your money without paying sales tax of around 7%. Add that to your Fed income tax 37%, and state income tax around 8%. You're at 52% and thats before local taxes and property tax

Not to mention consumption taxes: energy taxes on fuels, phone taxes, excise taxes, alcohol, tobacco, airline, . . . And some products we buy are taxed several times along the production route.

But I think Love is going to take a big step this season and do very well. I am thinking he could be a top 5 QB, which is saying something. There are a bunch of good young talented QBs right now.

 

[rmontro]

Even with that though, if the assessed value of your home is rising, it's actual market value is probably rising too. So you should feel good about your growing investment, maybe higher taxes, but more money when you sell.

Well, the property taxes haven't seemed that bad until the last few years when the prices have gone haywire. As for the investment, I haven't been planning on selling, I was thinking this was my last house, as I'm getting up there in years, and moving is a huge pain in the rear. So I would prefer not to see the housing prices rise, since its only effect on me is to raise my taxes (and insurance costs).

 

[Pokerbrat2000]

Well, the property taxes haven't seemed that bad until the last few years when the prices have gone haywire. ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, So I would prefer not to see the housing prices rise, since its only effect on me is to raise my taxes (and insurance costs).

I'm guessing that if you look at the budgets of the municipality that you live in, for the past 10 years, they went up quite a bit, due to all sorts of increased costs. Your property taxes shouldn't increase, even if your property value (assessment) increases, unless those budgets increase.

One year my house went up $30K in assessed value and my property taxes went down. How is that you ask? Because every assessment went up in my taxing district, increasing the taxable base of my municipality. However, the expenses for my district went down, giving everyone a tax break.

 

[rmontro]

I'm guessing that if you look at the budgets of the municipality that you live in, for the past 10 years, they went up quite a bit, due to all sorts of increased costs. Your property taxes shouldn't increase, even if your property value (assessment) increases, unless those budgets increase.

I'm not familiar with this system of which you speak. We pay a percentage of our value, and every time the assessment goes up, my property taxes have gone up to match. But I wouldn't be surprised if the municipal budget has gone up, because everything's gone up, hasn't it? I get the impression they keep jacking the assessments so they can collect more money.

 

[thequick12]

So, after all of that, what does he net, even if he accepts the lower contract? What do real people net?

I think it depends on how good your tax guy is...I dont make anywhere close to even the league minimum but I do my own taxes and I think I suck at being a tax guy cuz I lose a lot

 

[thequick12]

Not to mention consumption taxes: energy taxes on fuels, phone taxes, excise taxes, alcohol, tobacco, airline, . . . And some products we buy are taxed several times along the production route.

But I think Love is going to take a big step this season and do very well. I am thinking he could be a top 5 QB, which is saying something. There are a bunch of good young talented QBs right now.

Good point, people, me included dont even think about those ones

I agree on Love as well. He's poised for in mu opinion a MVP worthy season. So many weapons

 

[Pokerbrat2000]

We pay a percentage of our value

In Wisconsin, that "percentage" is called the Mil rate. Each year Municipalities determine the Mil rate that will be used in determining what each owners property tax is. It can go up, down or stay the same, depending on budgeting.

I get the impression they keep jacking the assessments so they can collect more money

Your tax assessment should closely resemble fair market value. In many cases, it is a bit less, but in WI. tax assessment rates must be within 10% (above or below) of fair market value. If you feel your assessment isn't correct, you can contest it.

Bottom line, it is good to understand and know about your taxing system and how it works. No offense, but complaining "I pay too much in taxes" and then not really understanding the system, is something seen way too often in this country.

 

[AmishMafia]

Maybe there should be another thread discussing taxing rate methods.

 

[Pokerbrat2000]

Maybe there should be another thread discussing taxing rate methods.

Touché! Are you going to tax us on it though? I will stop taxing you and others with it.

 

[AmishMafia]

I friend told me he heard a Packer coach say (or maybe quoted by someone) as saying Love has taken another step and looks much better than he did last season. Anyone else hear this?

I heard MLF say Stokes looked night and day better. Or maybe he meant from the start of last season to the end.

 

[Pokerbrat2000]

I friend told me he heard a Packer coach say (or maybe quoted by someone) as saying Love has taken another step and looks much better than he did last season. Anyone else hear this?

I heard MLF say Stokes looked night and day better. Or maybe he meant from the start of last season to the end.

While I hope both are true, we probably wouldn't hear "These 2 players have stalled out and looked bad". Love has a much higher ceiling that we have seen and I am excited about him for sure. Stokes has a ton to prove, so who knows with him. I could see a case where he is a Pro Bowler in the next 4 years or not employed in the NFL. The fact that Gute hasn't done a whole lot to address the CB position leads me to believe that they are counting on Stokes a lot more than I am.

 

[AmishMafia]

While I hope both are true, we probably wouldn't hear "These 2 players have stalled out and looked bad". Love has a much higher ceiling that we have seen and I am excited about him for sure. Stokes has a ton to prove, so who knows with him. I could see a case where he is a Pro Bowler in the next 4 years or not employed in the NFL. The fact that Gute hasn't done a whole lot to address the CB position leads me to believe that they are counting on Stokes a lot more than I am.

I am getting the Love one 3rd hand. Not sure if true.

The quote on Stokes was unsolicited. MLF brought it up on his own. You are correct if MLF was asked about Stokes. I think he was asked about the new Safeties and their affect on the defense.

 

[Voyageur]

In Wisconsin, that "percentage" is called the Mil rate. Each year Municipalities determine the Mil rate that will be used in determining what each owners property tax is. It can go up, down or stay the same, depending on budgeting.



Your tax assessment should closely resemble fair market value. In many cases, it is a bit less, but in WI. tax assessment rates must be within 10% (above or below) of fair market value. If you feel your assessment isn't correct, you can contest it.

Bottom line, it is good to understand and know about your taxing system and how it works. No offense, but complaining "I pay too much in taxes" and then not really understanding the system, is something seen way too often in this country.

One of the many things I did was to take the Assessor's exam in Madison, and got my license. I was qualified as an assessor at all levels. It's not a complicated system, and does deal with fair market value. Some assessors are very level headed, others aren't as good at keeping the playing field fair.

As an example, decades ago, the state of Wisconsin had the misguided impression that lake shore values on remote lakes in Northern Wisconsin were worth the same as the footage on Lake Mendota. It took years of good Assessors fighting this illogical evaluation to get it somewhat straightened out.

I did assessing for 6 years, as a side hustle. It was very time consuming during the spring, and I had to take my vacation time to put up to 16 hours a day into it, 7 days a week. The first two years it was kinda fun, but after that, it got to be a chore. The only thing good about it was that pay check. But, in the end, I found I was putting so much time into it, to insure fair evaluations, that I was making a little less than minimum wage.

During my last two years, I did reevaluations as well. I found that way too many Assessors spent way too much time setting the standards of land values based on the same criteria as was applied in areas where the land was actually much more valuable. As an example, farm land in a Northwestern county will never be as valuable as the nice, flat lands in South-central Wisconsin, where the black soil is great for crops. Yet, idiots who were clueless in Madison (political appointees) couldn't grasp that concept. Both times, it was a battle that could have ended up in court. In the end, the people were partially satisfied, but no matter what you do, someone is going to be mad about the decision.

Anyhow, my take on it. Since moving to Texas, twice, I've had to go at it with the Assessor in our county, and in two hearings, I won my case. In fact, the second time around, it cost him his job, because he didn't follow through on his duties as applicable to the laws. I'll go after the next one if necessary. He or she starts this year, and I've already filed an objection to the amount of increase shown on my evlautation. Looking forward to fun in the trenches on this one..... again. I hate incompetency!

 

[Pokerbrat2000]

I am getting the Love one 3rd hand. Not sure if true.

The quote on Stokes was unsolicited. MLF brought it up on his own. You are correct if MLF was asked about Stokes. I think he was asked about the new Safeties and their affect on the defense.

The Packers confidence or maybe lack there-of in Love will be reflected in what happens with his pending contract. They would be absolutely stupid to give him a big contract, if they aren't 100% convinced he is the real deal.

I keep wondering what would be going on today with Love, had Rodgers not been traded. Guessing he would have been traded or possibly held on to at the lowest cost that the Packers could keep him for.

 

[Voyageur]

The Packers confidence or maybe lack there-of in Love will be reflected in what happens with his pending contract. They would be absolutely stupid to give him a big contract, if they aren't 100% convinced he is the real deal.

I keep wondering what would be going on today with Love, had Rodgers not been traded. Guessing he would have been traded or possibly held on to at the lowest cost that the Packers could keep him for.

Good points. We're going to find out before the season starts, in my opinion, as to how they view Love and his future as a Packer.

 

[Pokerbrat2000]

Good points. We're going to find out before the season starts, in my opinion, as to how they view Love and his future as a Packer.

I hope they wait longer than that, but either way, I think Love will be playing for the Packers in 2025 and beyond.

 

[Poppa San]

Maybe there should be another thread discussing taxing rate methods.

@Shaggy , @griffin this is why we need the Atrium back.

 

[thequick12]

Bottom line, it is good to understand and know about your taxing system and how it works. No offense, but complaining "I pay too much in taxes" and then not really understanding the system, is something seen way too often in this country.

I 100% pay way too much in taxes for the kind of roads I have to transverse my car over to get to work.

But I actual have to contest an assessment by 5/20. Do you have any advice, insight on that?

 

[Pokerbrat2000]

But I actual have to contest an assessment by 5/20. Do you have any advice, insight on that?

2 days away? I would usually say hire a professional, most only charge if they are successful, but it may be too late to do that.

You have a lot of work to do in the next 2 days to teach yourself how to appeal your assessed value. Don't focus on TAXES, its about Assessed Value.

 

[Pokerbrat2000]

@Shaggy , @griffin this is why we need the Atrium back.

I guess I wasn't aware that the Atrium was closed, I can still access it and create a thread in it.

https://www.packerforum.com/threads/the-ins-and-outs-of-taxation-in-the-nfl-and-elsewhere.85509/