This is deeply weird. I've never heard of (at least around here) of any taxing entity that could assign a value to any real property in excess of fair market value which is essentially the purchase price for the property in what is commonly termed an arms length transaction. I believe that most states have language in their Constitutions to preclude valuations in excess of FMV, that, but of course, we're talking about Texas now, where most anything can and does go. In this case because it is going to be owned by a non-profit, there are no taxes with some insignificant exceptions like local lighting and sanitary districts. I'll bet the money grubbers in the assessor's office will be wailing in their beer if and when you take title as a non-profit. And, of course, as a non-profit, it's perfectly OK to accept charitable donations from site users. There must be electrician blood in your heritage because you sure seem to have this wired! In a message dated 6/17/2007 7:42:30 P.M. Pacific Daylight Time, [EMAIL PROTECTED] writes:
We are talking to the new owner about the site. We might be able to work a deal with him to get it. He is somewhat unhappy with it, as it does not suit his needs and he is paying more taxes on it, than he thought. He thought he would only pay taxes on what he paid for the site, and no releases that he say to pay the determined value from the county which is nearly 400,000 or 500,0000 dollar more than he paid for it. Oops, maybe he should have checked first. ************************************** See what's free at http://www.aol.com.
