4 ms·
> There's a simple solution here. You tell me what you think your property is worth. And I can force you to move out today for that price. This might still be a
by eiaoa 8y ago
> There's a simple solution here. You tell me what you think your property is worth. And I can force you to move out today for that price. This might still be a loss for the county tax assessors, but it will at least keep these stores honest.
It might not even cost the county tax assessors much, some of these abuses are so blatant that even a private citizen could buy out the building under that policy:
https://dailycaller.com/2018/08/14/apple-hq-200-dollars-santa-clara-county/ https://dailycaller.com/2018/08/14/apple-hq-200-dollars-sant...
> Apple, history’s first trillion-dollar company, is arguing that a cluster of new buildings at its headquarters is worth only $200 in order to lower its tax burden.
> The trillion-dollar tech giant claimed in an appeal the value of the “cluster of properties” is worth $200, not the $1 billion value given by the Santa Clara County’s tax assessor — elected officials who determine property value for tax purposes.
I'd call it "disruptive innovation" to buy out Apple's headquarters buildings for the $200 it thinks they're worth, rent them back to Apple at the maximum price the market will bear, and pay Santa Clara County it's fair share in taxes.
- mdasen 8y agohttps://appleinsider.com/articles/18/08/13/apple-appeals-against-santa-clara-county-tax-demands-over-high-property-valuations https://appleinsider.com/articles/18/08/13/apple-appeals-aga... To be fair, another source says it’s unclear if that is $200 or $200M which is a big difference. Apple does pay $56M in property taxes per year in Santa Clara county and is the largest property tax payer in a county that includes Google. If property taxes there are 1%, that would mean $5.6B in assessed value.