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Old 03-24-2010, 03:02 PM
 
894 posts, read 1,457,257 times
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What did Thatcher say about running out of other peoples money?
Valley News ~ Full Story
In the last two years, state Rep. Margaret Cheney has received $15,793 in “income sensitivity” benefits that cut the property taxes she was required to pay on her $800,000 home in Norwich nearly in half.
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Old 03-24-2010, 04:14 PM
 
1,135 posts, read 2,292,792 times
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This is a sensitive issue. I wouldn't do away with income sensitivity alltogethter because it helps middle class people like myself. Without it, we would pay 10 percent of our income on property tax for a no-frills 3 bedroom, 2 bath, 1800-square foot home on two acres. We receive no municipal services other than school and police.

But I know several wealthy people including a woman with an 8,000-square-foot home on 20 acres on the Pinnacle Ridge who receive this benefit. There are probably too many loopholes that need to be closed.
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Old 03-24-2010, 04:39 PM
 
Location: The Woods
18,163 posts, read 25,248,057 times
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I wouldn't oppose an income cap on eligibility for income sensitivity. But no cap on home values. The program was created precisely because of the soaring prices of real estate versus income.
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Old 03-25-2010, 08:10 AM
 
400 posts, read 816,490 times
Reputation: 473
I like how selling her 800K house never even seemed to enter her mind as the logical choice. The fact is, earning 50K a year she just plain can't afford a house that expensive. I'm surprised she can even heat that thing, but I'm sure her ex probably paid the whole mortgage. Sounds like a pretty sweet setup.
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