Category: Land value

Built upon the lands of time: Part 3, 8.2% annual appreciation for 32 years

22 July, 2015 (10:00) | Apartments, Co-ops, Elevators, Housing, Land leases, Land value, Mobile homes, New York City, Rental, Reversionaries, Rule of four-sevenths, Urbanization, US News, Verticality | No comments

[Continued from yesterday’s Part 2 and the preceding Part 1.] By: David A. Smith After capital reinvetsment While the story reported in The New York Times (12 June 2015) of the Tower – Trump Plaza at 167 East 61st Street – Lease expiration imminent – has already had its Magus and its Fool, its land-sundered […]

Built upon the lands of time: Part 2, The Rule of Four-Sevenths

21 July, 2015 (10:00) | Apartments, Co-ops, Elevators, Housing, Land leases, Land value, Mobile homes, New York City, Reversionaries, Rule of four-sevenths, Urbanization, US News, Verticality | No comments

[Continued from yesterday’s Part 1.] By: David A. Smith End of lease approaching In yesterday’s Part 1 chronicling the happy if expensive ending of a 32-year saga of a co-op that ‘forgot’ to buy the land underneath its apartments, reported in The New York Times (12 June 2015), we had met our Magus, Marc Cooper […]

Built upon the lands of time: Part 1, Land value = Property value

20 July, 2015 (10:00) | Apartments, Co-ops, Elevators, Housing, Land leases, Land value, Mobile homes, New York City, Rental, Reversionaries, Rule of four-sevenths, Urbanization, US News, Verticality | No comments

By: David A. Smith This post has a hero – and an unlikely one to be spotlighted in a story from The New York Times (12 June 2015) – an investment banker: Who was that unmasked man? Marc Cooper knew exactly what he was getting into in 2011 when he purchased three apartments at Trump […]

My taxes must be unfair: Part 5, The solution to fairness

30 June, 2014 (18:09) | Appraisals, Austin, TX, Democracy, Homeownership, Housing, Land value, Local issues, Municipal budgets, Politics, Real estate taxes, Schools, Urbanization, Zoning | 1 comment

[Continued from yesterday’s Part 4 and the preceding Part 1, Part 2, and Part 3.] By:David A. Smith People try to live within their income so they can afford to pay taxes to a government that can’t live within its income. — Robert Half  As by now become apparent from deconstructing a recent article in […]

My taxes must be unfair: Part 4, Or do they?

27 June, 2014 (09:29) | Appraisals, Austin, TX, Democracy, Homeownership, Housing, Land value, Local issues, Municipal budgets, Politics, Real estate taxes, Schools, Urbanization, Zoning |

[Continued from yesterday’s Part 3 and the preceding Part 2 and Part 1.] By:David A. Smith In theory, taxes should be like shopping. What I buy is government services. What I pay are my taxes. – P. J. O’Rourke And I don’t pay taxes for haircuts Yesterday, after dispelling the illogical arguments, overblown rhetoric, and […]