5 EPIC FAILS of Real Estate Investing History

danley-genetors

San Francisco Business Times (blog)

Real Estate Deals of the Year 2015 winners revealed
San Francisco Business Times (blog)
The cloud computing giant signed the biggest office lease in San Francisco's history, taking 714,000 square feet in the tallest office building west of Chicago — the 1,070-foot Transbay Tower under construction at 415 Mission St., which will be ...

While house hunting, I found a dream home. However, the house had a high property tax rate. When I asked the real estate agent why the rate was high, she told me about religious "camps" in the county which built neighborhoods within them for their members. Their members live property tax free.

Mon, 10 Sep 2012 11:31:55 -0700

These camps are owned by a religious group. Entire neighborhoods have been built in these camps. MANY people are living there and according to this real estate agent, no one on this property pays property taxes. Because these people don't pay taxes, the surrounding neighbors have to pay more taxes to make up the difference.

The house I'm looking at has over $12k in property tax, and it's only valued at roughly $170k. Neighboring properties pay the same (one was at $10k, the other was at $11k).

Can religious groups really get away with this?

Links: http://www.riverreporter.com/issues/04-08-26/head3-relations.html (thanks to sandflea)

EDIT: I removed any indication of which religious group owns this land to prevent this thread from becoming a bash-fest against a particular religious group.

submitted by ch-dev to atheism
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