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Thread: A Million Bucks In Arrears- Darlington/Florence County

  1. #21
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    Quote Originally Posted by Duck Tape View Post
    As a result of Act 388 the legislature limited the increases that residential property taxes. As a result business property taxes have risen dramatically. That includes rentals.

    It looks like the accused got signatures on mortgages for the properties instead of leases.

    Hey DT how about justify the "manufacturing" penalty tax --- 10.5% property tax on business classified as manufacturing???

    Talk about property tax bull shit. If you support manufacturing and make items from steel etc you pay 10.5% on real property / equipment / vehicles all while the donut maker pay 6%..

  2. #22
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    $10,000 PER tax evasion charge.
    upwards of 120 properties for 6 years.
    10,000 x 120 x 6 =7,200,000

  3. #23
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    Quote Originally Posted by FEETDOWN View Post
    If I ever sit on a tax evasion jury the prosecution is fooked. Fooked, I say.....
    Wonder why jury nullification is not used more frequently?
    Freedom nor slavery favor any particular race or people

  4. #24
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    Manufacturers get raped in Richland county. Holy shite the taxes.

  5. #25
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    I'd go for a jury trial!!! Gonna be a lot of talking him into taking a "deal". Sounds like he's a gambler. Go for it!

  6. #26
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    Quote Originally Posted by FEETDOWN View Post
    If I ever sit on a tax evasion jury the prosecution is fooked. Fooked, I say.....

  7. #27
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    Quote Originally Posted by BBDII Colt View Post
    Hey DT how about justify the "manufacturing" penalty tax --- 10.5% property tax on business classified as manufacturing???

    Talk about property tax bull shit. If you support manufacturing and make items from steel etc you pay 10.5% on real property / equipment / vehicles all while the donut maker pay 6%..

    Property tax is controlled by local government.


    It does not make sense to tax business. Don't tax what you want more of, like employers.
    Either write things worth reading, or do things worth writing.

  8. #28
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    Quote Originally Posted by Duck Tape View Post
    Property tax is controlled by local government.


    It does not make sense to tax business. Don't tax what you want more of, like employers.
    This...

  9. #29
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    Quote Originally Posted by Duck Tape View Post
    Property tax is controlled by local government.


    It does not make sense to tax business. Don't tax what you want more of, like employers.

    Well, 86 income taxes, we'll take what we can get and that's a decent start.

  10. #30
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    Quote Originally Posted by Duck Tape View Post
    Property tax is controlled by local government.


    It does not make sense to tax business. Don't tax what you want more of, like employers.
    Manufacture property tax is dictated by DOR and that figure is sent to the local gov to collect the tax. The rate and values are set by DOR. So the penalty is set at the State level.

  11. #31
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    Probably right. It must have been set before me. I don't ever recall voting on it. I do recall the manufacturers complaining about high tax.

    I do know we are looking at a probable cut in taxes somewhere. Not really sure how much or to whom. The retirement system is leaking oil and maintenance of existing buildings is on three cylinders.
    Either write things worth reading, or do things worth writing.

  12. #32
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    Quote Originally Posted by WNM View Post
    Stroud surname and a disdain for government overreach. Hmmm
    I totally see what you did there as it was my first thought after reading the article as well! LOL.
    Living in Moncks Corner but looking forward to moving back to the West Coast in 2020 where there are more ducks and less duck hunters!! LOL

  13. #33
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    Regardless of what laws he may have broken, he paid 4% instead of 6%. So if he owed $1 million, that means he paid $2 million, and that ain't nothing. There are many paying nothing. MG
    Dum Spiro Spero

  14. #34
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    The accused lives in a castle and drives around Florence in a Lamborghini. I hate property taxes, but also hate people who try to cheat the system and make the honest person pay more.

  15. #35
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    Hey DT offer a buy out to those in state government that are with in 10 years of retirement, then reduce the size of the state government and close some buildings. Eliminate funding ETV and the Arts, let the private sector fund them.

  16. #36
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    It is a self-financed mortgage on a townhouse that is singed by the resident. The new owner then pays the residential property tax rate.

    If the pay they own it one day. If resident fails to satisfy the 30 year mortgage then the lender takes it back.

    Is that cheating the system?

    Does it matter that very few ever satisfy the mortgage?
    Either write things worth reading, or do things worth writing.

  17. #37
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    Quote Originally Posted by SC REBEL View Post
    Hey DT offer a buy out to those in state government that are with in 10 years of retirement, then reduce the size of the state government and close some buildings. Eliminate funding ETV and the Arts, let the private sector fund them.
    They have studied the pension system for a while. There may be a buyout offered. They need to change to defined benefit plan IMMEDIATELY. BTW, we eliminated the retirement deal for legislators a while back.

    Republicans dramatically cut government when we took over in the 90's. Growth has been small since except for higher ed. Agree with building closures.

    The arts have been reduced to minor grants and mostly in schools. ETV is basically self-sufficient.

    Thanks for the suggestions.
    Either write things worth reading, or do things worth writing.

  18. #38
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    Quote Originally Posted by Duck Tape View Post
    It is a self-financed mortgage on a townhouse that is singed by the resident. The new owner then pays the residential property tax rate.

    If the pay they own it one day. If resident fails to satisfy the 30 year mortgage then the lender takes it back.

    Is that cheating the system?

    Does it matter that very few ever satisfy the mortgage?
    Yes it’s cheating the system. He’s not offering mortgages to benefit the buyer. He’s doing it to evade taxes.

  19. #39
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    Curtis Loftis could get this figured out. Him or Tom Davis.

  20. #40
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    Quote Originally Posted by Remy View Post
    Yes it’s cheating the system. He’s not offering mortgages to benefit the buyer. He’s doing it to evade taxes.
    I am not doubting what his motivation is, to save tax money. I have the same goal and I assume nearly all of us do. I own apartment complexes and pay dearly on property taxes. Ridiculous amounts. I have never attempted this scheme.

    But many of these "buyers" do not have great credit and it may very well give them a chance to own a home. What makes this criminal? Intent or do actual recorded mortgage documents?
    Either write things worth reading, or do things worth writing.

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