Assessed Value Of Storm Water Management Ponds

[Meandering]

 

[Terrel L. Shields]

In this area, $1 Million dollar ag business land (120 acres, +/-) pays about $2,000/year in property taxes.

http://www.governing.com/topics/finance/gov-companies-receiving-largest-federal-subsidies.html
And that commercial building generates 7% return or shuts the doors and if an auto company pays NO TAXES because the gov took temporary title and about 20 years later packs up and leaves as soon as they are supposed to start paying. The farmer survives on 3% returns.

Spanish electric utility company Iberdrola was identified as the largest single recipient of federal grants and tax credits in the group's report. The company has received nearly $2.2 billion since 2000, mostly stemming from investments in power generation facilities supported by the Recovery Act.


Southern Company$1,475,553,962
Summit Power $1,441,936,555
SCS Energy $1,254,154,000
Tenaska $966,252,326
Duke Energy $898,436,173
General Electric $836,524,548
Exelon $734,674,010
EDP-Energias de Portugal $722,468,855
Leucadia National $651,647,087
SunEdison $649,564,635
General Atomics $614,658,667
Abengoa $605,128,646
Air Products & Chemicals $604,170,312
Ameren $594,809,786
E.ON $576,149,728
AES $566,920,950
Invenergy $531,915,559
General Motors $529,398,581
SOURCE: Good Jobs First
Mike Maciag | Data Editor
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Show me a farmer who drew that kind of money or gets a property tax break for a multi-million dollar poultry barn.

Normal – Rivian Automotive will obtain property tax abatements for five-years from the city of Normal if they meet certain milestones in their efforts to reopen the former Mitsubishi Motors plant.

state's MSF has approved a tax exemption valued at $770,000 known as the State Essential Services Assessment for FCA.

Tax incentives of $215.9 million approved for electric car company Faraday Future ... which plans to open its first manufacturing plant in North Las Vegas

2012. Subsidy Value: $158.5 m. Jobs/Trainees: 1,000 ... property tax worth $22 million over 10 .(Alabama)

VW to build new SUV in Chattanooga, add 2000 jobs; impact to be felt ... $33 million -- Property tax breaks expected to be offered

Tesla could take in nearly $1.3 billion in tax incentive (Nevada)

Toledo gave DaimlerChrysler $280 million in tax incentives in exchange ... from using tax breaks to compete with each other for new business. ... Most states and many local governments have come to rely on property tax breaks to

foreign auto plants were taxpayer gifts such as property and sales tax exemptions, income tax credits, infrastructure ($3.6 billion)
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There are literally hundreds more examples. Show me one farmer who gets a break on property taxes.
This is my neighbors tax bill on 40 acres and some chicken barns.Assessed is 20% of valuation

​

 

[Meandering]

Air Products used to be one of my clients.



I miss those days.

.

 

[Eli]

Sometimes the highest and best use of a property is to hold it.

 

[Eli]

Or give it away.

 

[techbiker]

While the stormwater ponds by themselves have no (or negative) value, they are not "by themselves". They are a required off site component of the lots they serve. Remove the ponds and what happens to the value of the effected lots? So the ponds do have substantial value, although it might not meet the definition of market value, market value is not the be all/end all definition of value.

But you can't legally remove the ponds... If the owner stops paying taxes on the ponds, they will not disappear. They cannot be dammed. For various reasons, it seems the ponds will exist at least as long as the subdivision does.

One thing I did think of was- can a neighbor purchase one of the ponds, count it towards his landscaping area for zoning purposes, and increase the size of his house?

 

[Mark K]

Ag land in IN is assessed at $1,960/acre, by law. EVERY farmer in this state gets a property tax break, in spite of what some of the Ag cheerleaders think.

Most of the ag land is selling for between $6,000 and $10,000 per acre. Farmers willingly pay $8K/acre on avg. and cry about having to pay taxes based on $1,960/acre. If they deserve a tax break so do the truckers that haul grain, the stores that sell processed grain, the banks that lend $ on the land because with no $, no farms.

Like the bumper stickers on the $75K 4-WD diesel Ford pickups, No farms, no Food. Well, no trucks-no food, no banks-no food, no Wallyworld market, no food.etc. Farmers are a link in a long chain but they've convinced a lot of people that they're 'special'. I should get a property tax break on my office because if there's no appraisers, no loans. No loans, no farms.

I've spent enough time on farms to know how 'tough' of a life they have. I feel sorry for the guy working at WalMart more than the avg. farmer. Farmers want everybody to think that they're out pulling a one row plow with a mule instead of sitting in the climate controlled cab of a tractor or combine, talking on their cell phones connected by bluetooth to the stereo while they're being guided by GPS.

One of the funniest (and most hypocritical) conversations I've ever had was with a farmer who was complaining about all of the Corporate welfare! I guess corporate AG welfare doesn't count.

BTW, I'm only talking about the property tax subsidies. I won't even get into their special IRS rules or the subsidized crop insurance programs that have farmers praying for a good drought.

 

[Meandering]

One of the funniest (and most hypocritical) conversations I've ever had was with a farmer who was complaining about all of the Corporate welfare! I guess corporate AG welfare doesn't count..

I find it funny when the Medicare crowd, discusses making poor people get drug tested and get jobs or cut off their food stamps.


But none of the welfare programs, be they food, or taxes, or imports, have anything to do with retention ponds.

.

 

[Mr Rex]

But you can't legally remove the ponds... If the owner stops paying taxes on the ponds, they will not disappear. They cannot be dammed. For various reasons, it seems the ponds will exist at least as long as the subdivision does.

One thing I did think of was- can a neighbor purchase one of the ponds, count it towards his landscaping area for zoning purposes, and increase the size of his house?

They will not disappear and if as some suggested, the current owner stops paying the taxes, I'd bet the taxing authority would enact some special assessments to the subdivision lots to pay for ongoing maintenance.

 

[techbiker]

They will not disappear and if as some suggested, the current owner stops paying the taxes, I'd bet the taxing authority would enact some special assessments to the subdivision lots to pay for ongoing maintenance.

Or the taxing authority will raise taxes for everyone in its jurisdiction .001%. lol