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10fords · #76 02-20-2013, 11:40 PM

Quote:

Originally Posted by Botnst

We have what's called a "homestead exemption" which deducts the first $125k (IIRC) from taxation except within municipalities which vote to withdraw the exemption. In California exempting $125k or so may not seem like a big deal but our mean housing prices are less than half of California's. So homeowners don't pay much tax unless they live in a city.

Businesses pay the brunt of the property taxes, but not forestry or agriculture as those too have hefty deductions and exemptions.

Every couple of years some genius in the legislature suggests repealing the Homestead Exemption. Then a bolt of blue lightning strikes him dead on the floor. The other legislators walk away whistling loudly like they thought the suggestion was dumb.

Incidentally, the Homestead Exemption was instituted under Huey Long because the oligarchy that ran this state from New Orleans was bleeding the remains of the middle class and the huge number of poor people in order to pay for their bribes and kickbacks and brother-in-law projects. Long used the blatant abuse of the rich against the poor during the 1927 flood as a cause celebre in his run for governor. Long promised and delivered a lot of debt relief on the middle class and poor by shifting taxes onto the wealthy and onto major businesses.

Long built more public schools than any previous Louisiana governor and built schools for "colored" (African Americans) from public funds. He campaigned for black votes -- unheard of!

Long also built a lot of bridge and paved a lot of roads. Not a big deal in most states, but when you live in a state dissected by swamps, rivers, bayous and marshes .... bridges are a godsend to the poor people who cannot get their farm produce to market. Who got it to market before Huey Long? Why, the plantation owners.

"Plantation owners? Didn't they disappear with the Civil War?"

No. After the Civil War carpetbaggers moved south and seized the plantations from the previous owners. Particularly hard hit were the plantations owned by the "Creoles of Color".

The carpetbagger plantation owners were some of the biggest proponents of Jim Crow. Their descendents' depredatious behavior brought Louisiana Huey Long.

But I digress.

Louisiana taxes are burdensome to business, heavy on wealthy and light on the poor. The current governor is arguing to do-away with income tax and go to some sort of VAT. To me, a VAT is thoroughly disingenuous -- the buyer never knows the true cost of the tax. But that's a story for another time.

Interesting.... I always marveled at the amount of bridges etc in the Louisiana highway system. Personally, I would have come to the conclusion that it was way too much trouble to build roads in the swamps and left it to the boats!
The 125K homestead exemption sounds interesting. What does a 40 or so acre piece with a usable house go for these days in your area, if you don't mind me asking? So, theoretically, could you buy a property for 125k and not have any property taxes? In Ca. you get a 7k reduction in assessed value on your principle residence, which amounts to a $70 a year reduction, but that is it. I have several customers that pay over $100K a year just in property taxes.

cmbdiesel · #77 02-21-2013, 12:20 AM

Quote:

Originally Posted by Botnst

We have what's called a "homestead exemption" which deducts the first $125k (IIRC) from taxation except within municipalities which vote to withdraw the exemption. In California exempting $125k or so may not seem like a big deal but our mean housing prices are less than half of California's. So homeowners don't pay much tax unless they live in a city.

Businesses pay the brunt of the property taxes, but not forestry or agriculture as those too have hefty deductions and exemptions.

Every couple of years some genius in the legislature suggests repealing the Homestead Exemption. Then a bolt of blue lightning strikes him dead on the floor. The other legislators walk away whistling loudly like they thought the suggestion was dumb.

Incidentally, the Homestead Exemption was instituted under Huey Long because the oligarchy that ran this state from New Orleans was bleeding the remains of the middle class and the huge number of poor people in order to pay for their bribes and kickbacks and brother-in-law projects. Long used the blatant abuse of the rich against the poor during the 1927 flood as a cause celebre in his run for governor. Long promised and delivered a lot of debt relief on the middle class and poor by shifting taxes onto the wealthy and onto major businesses.

Long built more public schools than any previous Louisiana governor and built schools for "colored" (African Americans) from public funds. He campaigned for black votes -- unheard of!

Long also built a lot of bridge and paved a lot of roads. Not a big deal in most states, but when you live in a state dissected by swamps, rivers, bayous and marshes .... bridges are a godsend to the poor people who cannot get their farm produce to market. Who got it to market before Huey Long? Why, the plantation owners.

"Plantation owners? Didn't they disappear with the Civil War?"

No. After the Civil War carpetbaggers moved south and seized the plantations from the previous owners. Particularly hard hit were the plantations owned by the "Creoles of Color".

The carpetbagger plantation owners were some of the biggest proponents of Jim Crow. Their descendents' depredatious behavior brought Louisiana Huey Long.

But I digress.

Louisiana taxes are burdensome to business, heavy on wealthy and light on the poor. The current governor is arguing to do-away with income tax and go to some sort of VAT. To me, a VAT is thoroughly disingenuous -- the buyer never knows the true cost of the tax. But that's a story for another time.

I'll be glad when the Huey P Long bridge is finally finished...

Botnst · #78 02-21-2013, 07:27 AM

Quote:

Originally Posted by 10fords

... does a 40 or so acre piece with a usable house go for these days in your area, if you don't mind me asking? ...

Location, location, location. In the north shore parishes of Lake Ponchartrain, and easy access to a major arterial is going to be thousands per acre and hundreds of thousands for a nice house. Also, do check the FEMA flood maps. Easily a couple million bucks in a fair location. It climbs steeply in relation to good roads and interstate access.

In the piney woods of N Louisiana the same farm might go for $900/acre and the house, half the cost of the nola area. $500K? Who wants to live in the piney woods? No major cities (other than the hellish Shreveport/Bossier City -- the murder rate of NOLA with low regard for culture), few major roads, no events other than high school basketball and a rodeo. Nah, don't even think about the northern part of the state. (That's where I'm goinna retire!).

SwampYankee · #79 02-21-2013, 07:39 AM

Quote:

Originally Posted by barry12345

That many areas have expanded their local governments or they have taken on too much debt in our names. Well aware that we property owners are a captive audiance.

Voter..."enticement"...has a cost!

TwitchKitty · #80 02-21-2013, 09:35 AM

Quote:

Originally Posted by Botnst

Location, location, location.

... Nah, don't even think about the northern part of the state. (That's where I'm goinna retire!).

Yah. Some of those south facing slopes with springs look like a true hell on earth. /end sarcasm

I like Arkansas too but MO better as you get the feel of four seasons. More like Appalachia than Atchafalaya.

We are under 10K on the mortgage and piddlin' cc debt. Stay liquid.

The Clk Man · #81 02-21-2013, 10:28 AM

Quote:

Originally Posted by SwampYankee

Thanks, Evan. With all of the financial gloom and doom, I just wanted to shed a little light.

Great, not you can start paying off the debt from our failed blivet business.

Fulcrum525 · #82 02-21-2013, 10:52 AM

Wow, quite the response even 5 years later....but glad to see that all is mostly well

SwampYankee · #83 02-21-2013, 12:59 PM

Quote:

Originally Posted by The Clk Man

Great, not you can start paying off the debt from our failed blivet business.

Hey now, I ain't closin' up shop just yet!

SwampYankee · #84 02-21-2013, 01:00 PM

Quote:

Originally Posted by Fulcrum525

Wow, quite the response even 5 years later....but glad to see that all is mostly well

Thanks, M. (Look at the chaos you started!

)

Can't Know · #85 02-21-2013, 01:20 PM

Quote:

Originally Posted by Henry F. Potter, the richest man in the county

Credit is a requirement for business. It really was never developed for private citizens and has little upside for the individual by even existing. As a general rule money borrowed at the individual level almost never generates a return. Houses may have been an exception but factoring in true inflation it might not have really even been there...

I have always visualised heavy personal credit use as being on an endless treadmill. Unfortunatly mankind has not learnt that a treadmill can speed up to the point you can no longer be on it. Consumer debt growth is now impacting the banks current credit ratings for example. This is far from a good omen.
* * *

Well, he has been reincarnated, or so it would seem...

Botnst · #86 02-21-2013, 01:25 PM

Quote:

Originally Posted by cmbdiesel

I'll be glad when the Huey P Long bridge is finally finished...

First time I went across it was on a passenger train. OMG.

I crossed it several years ago while towing an airboat. OMG!

The lane widening should help. I'll wait for a million or so adventurous souls to go across it.