At the discount auto parts store.....

sheepfarmer

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I grew up in Nevada and at that time school systems were supported by taxes on businesses, which were mainly gambling casinos. This had the advantage that all schools got about the same per student budget, and since gambling is profitable, for the casinos at least, the schools were good. So it didn't matter what neighborhood you lived in, you had as good a chance of a good education as anyone else. Our schools were way better than those in California next door.

It has always mystified me in other states, why the districted real estate taxes are distributed so as to perpetuate poor opportunities associated with poor education. Rich neighborhoods get more money for their schools, so a key point in selling real estate is which school your kid would go to.

I wonder how fairly Michigan distributes the profits from the Lotto which is supposed to benefit schools?
 

Russell King

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In this state, renters (I have a couple), don't pay a lick in RE taxes but most have multiple kids in school.

Tell me how that works?
You (the owner) pay the property tax. You should be passing that cost into the rent required to lease the property from you.

In effect you charge the renter enough to pay property taxes and make a profit.

Additionally you get the benefit of increasing property values over time. Hopefully they always have an upward trend over time.


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SidecarFlip

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I grew up in Nevada and at that time school systems were supported by taxes on businesses, which were mainly gambling casinos. This had the advantage that all schools got about the same per student budget, and since gambling is profitable, for the casinos at least, the schools were good. So it didn't matter what neighborhood you lived in, you had as good a chance of a good education as anyone else. Our schools were way better than those in California next door.

It has always mystified me in other states, why the districted real estate taxes are distributed so as to perpetuate poor opportunities associated with poor education. Rich neighborhoods get more money for their schools, so a key point in selling real estate is which school your kid would go to.

I wonder how fairly Michigan distributes the profits from the Lotto which is supposed to benefit schools?
In as much as we both live in this state, I wonder too. The 'lotto' was suposed to be a windfall for public education but they keep pandering for millages and I keep voting NO

Sure got off the discount auto parts subject...:eek:
 

SidecarFlip

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You (the owner) pay the property tax. You should be passing that cost into the rent required to lease the property from you.

In effect you charge the renter enough to pay property taxes and make a profit.

Additionally you get the benefit of increasing property values over time. Hopefully they always have an upward trend over time.


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Maybe in your state, in this state not so much. I charge to break even, nothing more. I agree I'm building equity but the return is nullified by taxes anyway.

Why I farm. Farming has to be the best tax writeoff ever conceived. I write everything off to the farm except food and clothing and sometimes clothing if it's farm related.

Lets just say that this year refunds under the new tax code were less. Not in my case and yes, I can stand an audit. Everything is above board, always is. Been through 2 audits in the past, no problem.
 

Daren Todd

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In as much as we both live in this state, I wonder too. The 'lotto' was suposed to be a windfall for public education but they keep pandering for millages and I keep voting NO

Sure got off the discount auto parts subject...:eek:
Similar here. The lotto does some scholarships, but no real windfall for the school districts.
 

SidecarFlip

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Kind of tip toeing around politics and I know that's a no-no on here and I respect that but, from my perspective, all the lottery was, was a way for politicians to line their pockets. Haven't you noticed that politicians all get wealthy on civil servant jobs? You have to wonder how that happens.:confused:
 

D2Cat

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Years ago in Kansas City, when the push/promotional advertising began for casinos, they were illegal except at Indian reservations. However, a loop hole was soon discovered. A casino could be floated on the water and not be affected by that law. So, river boat casinos became necessary. Now a gazillion casinos exist and they never move on the river!!

There are ads on TV frequently telling how the money is helping school. Their phrase is, "Pay it Forward". I have never seen any evidence of where the money actually goes, but I don't get too concerned...they don't get ANY of mine!

By now we are all used to "fake news", it was just given that tile in the last couple of years.
 
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dirtydeed

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We have casino's here in PA as well. All they seem to do is attract the wrong kinds of people in my opinion. They've ruined the poconos (it was already hurting) and it didn't do anything positive for the lehigh valley either. As far as helping the school districts, yeah...right.