Discussion: Rep. Schock Faces Ethics Questions Over Home Sale To Alleged Campaign Donor

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Discussion for article #233055

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Schock’s terrible, no good, very bad week simply won’t end, will it?

Pass the popcorn, please.

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I have no idea if the sale was legit or not, but I wouldn’t read too much into the “three times its assessed value.” Tax assessments often have little relationship to actual value. My old home in New Castle Co., DE has never been reassessed since the home was built in 1974 and is assessed at $48k. It last sold in 2012 for $165k My current home is assessed at half the guesstimated sale price.

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Beat me to it.

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Your case is far from the norm. The house was appraised for sale I imagine as well as a few comps from the neighborhood run. In any case the property appraiser there is probably a bit more with it than yours in De.

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Apparently you’ve chosen to live in municipalities that are very dysfunctional. The assessed value on my home is 10 to 20% less than its actual value. So selling it for three times the assessed value would be selling it for quite a bit more that its worth.

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My property valuation changes every year and is the base for the property tax rates that I pay each year. Even though the markets in AZ dropped by a huge amount during the recession, the assessed value went down maybe 10% when priced had plummeted over 60%. Of course they went right back up and twice what the value was increasing.

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This gave me a big laugh. The House Ethics Committee is going to investigate? Isn’t that an oxy moron?

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Looking for ethics amongst TeaPub elected

is akin to looking for peach trees in bloom in Alaska in January.

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Once you find a loose yarn on a sweater, the sweater is not long for this world.

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Appraised (for sales purposes) <> Assessed (for tax purposes). Some municipalities choose as a matter of policy to not do reassessments or to assess at values significantly below market value. My current home is in a city in which every home is assessed that way. It doesn’t really matter, as they just set the tax rate at 2x what it would be if the home was assessed at market value. My point, as stated above, is that we have no idea if the assessed value is close to the market value.

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Consistent with the Republican majority’s committee name change policies, there’s no longer any perceived need to append the ‘oxy’ to the ‘moron’.