Crime Letitia James Under Pressure to Prosecute Jon Stewart for selling his New York home 829% over market value

[chardog]

The change closed a glaring loophole in Prop 13, which already reduced housing supply and increased housing costs.

No one is being forced out of a home here, if your parents die, the property absolutely should be reassessed. This particular loophole was overwhelming used by wealthy families.

aint nobody was complaining about prop 13, keeping property taxes low, nobody, and I'm pretty sure that "loophole" benefitted more low income folks than wealthy, pretty darn sure. Considering, home ownership is decreasing in the state, this will be a huge hit on rent prices.

you will own nothing and you will be happy

it's not going to affect me or my kids because I understand how to deal with this shitty government, but I will tell you, a lot of folks dont know how to get around, dont have the means to get around it. Knowing that, my pops raised his rent to match market values.... a clean $1000 extra in rent...... you can say he's greedy, or he's been doing way below market for too long.....

 

[chardog]

Again, this is how property taxes work and prop 13 specifically. Your dad/parents received an effective tax break/reduction as property owners, and as a new homeowner, you now have to pay for the previous owner's tax advantage.

if you insist on high property taxes, why bother living in california at all? That's the only thing keeping people around......

 

[Snubnoze707]

Again, this is how property taxes work and prop 13 specifically. Your dad/parents received an effective tax break/reduction as property owners, and as a new homeowner, you now have to pay for the previous owner's tax advantage.

No, they didn't get a "break" they paid their property tax based on what they paid for the house when they bought it. It just so happens that they bought it in 1980 and the value has increased since then, but the shit was bought and paid for at that value. I grew up in this house. I'm not selling the house or renting it. Again, this is unique to California.

 

[chardog]

I'll look into it. Since the inheritance is both me and my sister (I have to pay her out on half) from my understanding we would BOTH have to move in within a year of him passing and making it our primary residence to avoid the increase. I'll dig more though.

I should have had him put me on before it went through, though. I wasn't sure that I wanted to take over the house at that time however.

I will tell you this...... you dont have to move in. What's the worse they're gonna do, keep the taxes at it's current rate?

You didnt hear it from me, but some people lie on their forms, maybe you moved in for a day, who's counting........ It is a tricky thing with dual owners though, you'll have to work out a backroom deal or the assessor gonna get you. Me and my brother are tight, but if you're not tight with your sister, shit is gonna be bad news.... but there are things you can do, or what I would do to make amends, maybe build an ADU and let her rent for income, some sort of deal that makes her happy, or live together. I would love to live with my brother if we had some sort of huge mansion (he's high maintenance). From my understanding, if she sells to you, then 50% assessed, if not, and she "gives" it to you, then you might be ok, but once you get the tax fixed, you really dont want to trigger the assessor.

 

[avenue94]

aint nobody was complaining about prop 13, keeping property taxes low, nobody, and I'm pretty sure that "loophole" benefitted more low income folks than wealthy, pretty darn sure. Considering, home ownership is decreasing in the state, this will be a huge hit on rent prices.

This issue stems entirely from Prop 13 and the resulting Prop 58. Prop 13 reduced housing supply and is a tax break that disproportionately benefits wealthier households and distorts the overall housing market. This the tax break we are talking about, it mostly went to renters and very wealthy families because those are the people most able to pass down houses.

No, they didn't get a "break" they paid their property tax based on what they paid for the house when they bought it. It just so happens that they bought it in 1980 and the value has increased since then, but the shit was bought and paid for at that value. I grew up in this house. I'm not selling the house or renting it. Again, this is unique to California.

They got an effective tax break from Prop 13. In what world does it make sense for a house's property tax to be based on a rate from 40 years ago, despite that possession tripling (quadrupling?) in value?

if you insist on high property taxes, why bother living in california at all? That's the only thing keeping people around......

I do not. California's property tax rates are about middle of the pack for the country. The reason property tax bills are so high is because the properties are so expensive. Why are properties so expensive? Because housing supply is limited, and Prop 13 and 58 further limited the supply of housing (they aren't the primary cause).

You're literally arguing for a tax break that makes property taxes even higher.

 

[Jack V Savage]

Shit, I think I speak for everybody when I say that we were all wondering what side you would come down on, and as it turns out, hack sausage has ruled that the orange man is indeed bad and the democrat party maintains their flawless record of criminal justice and absolute fairness. Thanks, "bruh", I'm sure the voters will see it your way too.

"Democrat party" and you slavishly defending "Daddy" as usual. Again, you're not really in position to talk.

Also, don't think I didn't notice you ducked the points again.

 

[Poon Goon]

you're analogy does not work

You are analogy does not work

 

[nostradumbass]

"Democrat party" and you slavishly defending "Daddy" as usual. Again, you're not really in position to talk.

Also, don't think I didn't notice you ducked tbe points again.

You haven't made a point in 2 decades of being on here, but I like where you're going with "I know you are but what am I", and I think you should keep that up.

 

[chardog]

This issue stems entirely from Prop 13 and the resulting Prop 58. Prop 13 reduced housing supply and is a tax break that disproportionately benefits wealthier households and distorts the overall housing market. This the tax break we are talking about, it mostly went to renters and very wealthy families because those are the people most able to pass down houses.

They got an effective tax break from Prop 13. In what world does it make sense for a house's property tax to be based on a rate from 40 years ago, despite that possession tripling (quadrupling?) in value?

I do not. California's property tax rates are about middle of the pack for the country. The reason property tax bills are so high is because the properties are so expensive. Why are properties so expensive? Because housing supply is limited, and Prop 13 and 58 further limited the supply of housing (they aren't the primary cause).

You're literally arguing for a tax break that makes property taxes even higher.

there's a reason why properties are so low in california, and it's not prop 13, it's because the permit fees are outrageous, that's why many in this state know the trick that you never demolish a home completely for a rebuild, always leave one wall up..... and of course that also prevents new builds from being built, but california knows this so they started allowing ADU to take care of housing supply..... but even with more supply, dont kid yourself, california is a rental state, prop 19 will destroy renters, and yall voted for this

 

[MicroBrew]

you're analogy does not work, one person did not get a proper running car, NOT an amicable transaction. In trumps case, the bank got all their interest, trump got his loan, an amicable transaction, simp harder for the banks, that's what democrats do.

A car that is not proper running can still be a running car.

As opposed to simping for a grifter who is well known for ripping off countless small business owners and running a fradulent 'college'.

--

Also you make it sound as if Republicans are for the little guy when they have always been the party of corporate America and big money. It's why they don't give a shit about enviromental regulations and worker safety.


You remember that East Palestine Ohio train disaster from 2023..., the one where brake failure led to a large enviromental disaster. Where between 1500 - 2000 residents were told to evacuate due to toxic cargo and the authorities burning off what was left.

Politico reported Wednesday that the Trump administration rolled back several safety measures for railways, including regular safety audits and an Obama-era rule that required faster brakes on trains carrying flammable liquids

White House: GOP, Trump officials ‘laid the groundwork’ for loose railway regulations

The White House on Wednesday blamed Republican lawmakers and the Trump administration for lax railway and environmental regulations in the aftermath of a train derailment in East Palestine, Ohio, t…

thehill.com

--

Safety Rules rolled back under Trump

AP Exclusive: Transport safety rules rolled back under Trump

WASHINGTON (AP) — On a clear, dry June evening in 2015, cars and trucks rolled slowly in a herky-jerky backup ahead of an Interstate 75 construction zone in Chattanooga, Tennessee.

apnews.com

 

[Jack V Savage]

You haven't made a point in 2 decades of being on here, but I like where you're going with "I know you are but what am I", and I think you should keep that up.

Actually I made a couple, but I know you're slow and your extreme worship of Trump is another obstacle to basic English comprehension. Read Hochul's comment again. You totally misunderstood it. And Trump's crime was fraud rather than paying off a loan. Paying off loans is legal but fraud is not.

 

[avenue94]

there's a reason why properties are so low in california, and it's not prop 13, it's because the permit fees are outrageous, that's why many in this state know the trick that you never demolish a home completely for a rebuild, always leave one wall up..... and of course that also prevents new builds from being built, but california knows this so they started allowing ADU to take care of housing supply..... but even with more supply, dont kid yourself, california is a rental state, prop 19 will destroy renters, and yall voted for this

Many reasons, but again, anything that reduces supply increases the overall cost of housing and property taxes for every new owner.

California was the only state that allowed owners to transfer a house's assessed value to their children (and grandchildren). That's insane lol. No other state does that, are you going to criticize them too?

 

[chardog]

A car that is not proper running can still be a running car.

As opposed to simping for a grifter who is well known for ripping off countless small business owners and running a fradulent 'college'.

--

Also you make it sound as if Republicans are for the little guy when they have always been the party of corporate America and big money. It's why they don't give a shit about enviromental regulations and worker safety.


You remember that East Palestine Ohio train disaster from 2023..., the one where brake failure led to a large enviromental disaster. Where between 1500 - 2000 residents were told to evacuate due to toxic cargo and the authorities burning off what was left.

Politico reported Wednesday that the Trump administration rolled back several safety measures for railways, including regular safety audits and an Obama-era rule that required faster brakes on trains carrying flammable liquids

White House: GOP, Trump officials ‘laid the groundwork’ for loose railway regulations

The White House on Wednesday blamed Republican lawmakers and the Trump administration for lax railway and environmental regulations in the aftermath of a train derailment in East Palestine, Ohio, t…

thehill.com

--

Safety Rules rolled back under Trump

AP Exclusive: Transport safety rules rolled back under Trump

WASHINGTON (AP) — On a clear, dry June evening in 2015, cars and trucks rolled slowly in a herky-jerky backup ahead of an Interstate 75 construction zone in Chattanooga, Tennessee.

apnews.com

a car not running properly will break a lot sooner than later, an initial amicable deal is all there is, Trumps deal is completely done.

And I would gladly, whole heartedly simp for a grifter before grifting on behalf of a vampire blood sucking wallstreet bank

so we'll agree to disagree.

 

[chardog]

Many reasons, but again, anything that reduces supply increases the overall cost of housing and property taxes for every new owner.

California was the only state that allowed owners to transfer a house's assessed value to their children (and grandchildren). That's insane lol. No other state does that, are you going to criticize them too?

Why are you entitled to anyone else's property?

I'll let you in on something, California allows transfer of assessed value because that's how they run things, it's a long tradition. In exchange, we pay state income tax, and it is arguably the highest in the country. How about we do a trade, no state income tax in exchange for assessing properties every year.

 

[avenue94]

Why are you entitled to anyone else's property?

I never said that. I actually don't think anyone is entitled to property, which is one of the many reasons I don't support kids being entitled to the assessed value of their parent's house.

I'll let you in on something, California allows transfer of assessed value because that's how they run things, it's a long tradition.

It's a long tradition from...1986? Do you even know your history?

How about we do a trade, no state income tax in exchange for assessing properties every year.

First, property taxes go to the county and local jurisdictions. Second, properties are already assessed annually. You might want to brush up on your basic civics.

 

[aitkenmike]

Letitia James under pressure to prosecute Jon Stewart

Comedian faced criticism after it was reported that he sold his New York City apartment for significantly more than market value.

www.newsweek.com

Jon Stewart benefited by 829% ‘overvalue’ of his NYC home even as he labels Trump’s civil case ‘not victimless’

Jon Stewart is facing online backlash after saying Donald Trump’s case overvaluing his properties was “not victimless,” and sleuths found his own records.

nypost.com

People on social media have called for New York Attorney General Letitia James to prosecute late-night show host Jon Stewart as she did former President Donald Trump after it was reported that Stewart sold his city apartment for $15.6 million more than it was worth.

On Wednesday, the New York Post reported that Stewart sold his Tribeca penthouse in 2014 for $17.5 million. At the time, the 6,280-square-foot property had a market value of about $1.882 million, according to the City of New York's Assessment Roll 2013-2014, making the sale price roughly 830 percent higher.

People in glass houses shouldn't throw stones. Jon Stewart sold his New York way over its market value and according to himself that is not a victimless crime.

Are you fucking stupid?

 

[Andy Capp]

Are you fucking stupid?

 

[Dr Curtis Love]

Are you fucking stupid?

Have you read through this thread? He's not the only one.

 

[Cajun]

You have to be dense to ignore the fact that he was discussing fraud...aka reporting false square footage, etc. That's the actual legal issue, not whether or not someone overpaid or underpaid for a property.

City planners and tax assessors typically prevent this from plan approval to property taxes. Curious how it was hidden.

 

[Andy Capp]

No, they didn't get a "break" they paid their property tax based on what they paid for the house when they bought it. It just so happens that they bought it in 1980 and the value has increased since then, but the shit was bought and paid for at that value. I grew up in this house. I'm not selling the house or renting it. Again, this is unique to California.

At least this guy gets it, unlike the other dumbasses. Our property tax is based upon what we paid for it. It's not going up every time real estate in my area increases in value.

I literally quoted exactly what he said on his show and him doing exactly what he called "immoral", and your response is "that's a non-answer" because you have no standards and a low IQ, which we already knew. Best of luck on your "it's still real to me, dammit" journey when the fucking governor of the state already said it was political and you somehow demand to still be treated like an idiot for your sanctimony fix. Sad.

His other examples in the segment were "try getting a car loan by saying you make 10x what you really do, or say you make less money to qualify for food assistance. I guarantee you there are just financial repercussions, but criminal ones". You don't pay back food stamps, and like every college campus in the country has credit card kiosks set up full of kids claiming they have more money than they do to get credit cards, so let's get after those too. It's not political, it's a matter of principle and rule of law, right?

I ask again, why don't property taxes skyrocket whenever there's a real estate bubble? All Stewart did was cash in on the increased value of his property. If you think that has anything to do with the "valuations" O'Leary or Stewart were talking about on this show you need to go back and watch again. And then let me know what he did that was hypocritical.

I also ask again, do you know what a fiduciary duty is? Or why Alan Weisselberg is in prison?