Tuesday, June 16, 2009

The Obama Factor: Is the Subprime the Reason for the Foreclosure Meltdown or is it High Property Taxes?

For the past two months I have been looking at purchasing property in Michigan. And what I have found is many of the homes in foreclosure have back property taxes/utilities that have not been paid.

Here are a few.

9415 WARWICK, DETROIT 48228



3 BEDROOM BRICK BUNGALOW, FIREPLACE, DINING ROOM, FULL BASEMENT, GARAGE

2006 TAXES - $5,905.31

2007 TAXES - $5,270.38

2008 TAXES - $4,266.67

WATER - $833.00

W. SOUTHFIELD / AT W. CHICAGO


9359 SANILAC, DETROIT 48224



3 BEDROOM ALUMINUM? BUNGALOW, DINING ROOM, FULL BASEMENT, GARAGE

2006 TAXES - $3,149.54

2007 TAXES - $5,564.73

2008 TAXES - $3,908.13

WATER - $675.00

N. MORANG / W. I-94


20299 BRADFORD, DETROIT 48205



3 BEDROOM FRAME BUNGALOW, FIREPLACE IN BASEMENT, GARAGE

2006 TAXES - $2,498.13

2007 TAXES - $5,122.78

2008 TAXES - $3,487.84

WATER - $488.00

S. 8 MILE / E. GROESBECK


10804 ROXBURY, DETROIT 48224



4 BEDROOM, 1.5 BATH, BRICK BUNGALOW, FULL BASEMENT, 2 CAR GARAGE

2006 TAXES - $6,373.84

2007 TAXES - $5,782.40

2008 TAXES - $3,989.91

WATER - $13.00

N. WHITTIER / W. BEACONSFIELD


16541 LAWTON, DETROIT 48221



3 BEDROOM BRICK COLONIAL, FIREPLACE, FORMAL DINING ROOM, FULL BASEMENT, GARAGE

2006 TAXES - $5,793.05

2007 TAXES - $5,560.86

2008 TAXES - $3,912.55

WATER - $308.00

S. MCNICHOLS / W. LINWOOD


12018 KILBOURNE, DETROIT 48213



3 BEDROOM FRAME COLONIAL, FIREPLACE, FORMAL DINING ROOM, FULL BASEMENT

2006 TAXES - $3,793.27

2007 TAXES - $3,356.53

2008 TAXES - $2,250.59

WATER - $1,507.00

N. OF E. OUTER DRIVE / E. GRATIOT


20246 BINDER, DETROIT 48234



3 BEDROOM BRICK CAPE COD, FULL BASEMENT

2006 TAXES - $2,173.68

2007 TAXES - $4,745.06

2008 TAXES - $9,881.05 (NOT A TYPO) - MUST INCLUDE PAST DUE WATER OF $4,522.00

S. 8 MILE / W. RYAN


8475 VAUGHAN, DETROIT 48228




3 BEDROOM ALUMINUM BUNGALOW, FULL BASEMENT, GARAGE

2006 TAXES - $3,714.12

2007 TAXES - $4,258.69

2008 TAXES - $3,139.79

WATER - $71.00

S. JOY / W. EVERGREEN


9314 SANILAC, DETROIT 48224



3 BEDROOM BRICK BUNGALOW, FULL BASEMENT, GARAGE

2006 TAXES - $3,469.84

2007 TAXES - $3,275.27

2008 TAXES - $2,082.40

WATER - $208.00

N. MORANG / W. I-94


9757 LAKEPOINTE, DETROIT 48224



2 BEDROOM BRICK RANCH, FIREPLACE, FULL BASEMENT, 3 CAR GARAGE

2006 TAXES - $392.08

2007 TAXES - $4,424.13

2008 TAXES - $2,934.53

WATER - $16.00

E. OF E. OUTER DRIVE / N. HARPER


10053 LAUDER, DETROIT 48227



3 BEDROOM BRICK BUNGALOW, FIREPLACE, 2.5 BATHS, FINISHED BASEMENT, GARAGE


2006 TAXES - $514.22

2007 TAXES - $5,194.96

2008 TAXES - $3,308.12

WATER - $833.00

W. HUBBELL / N. OF W. CHICAGO


16535 EDINBOROUGH, DETROIT 48219



ROSEDALE PARK- 4 BEDROOM BRICK COLONIAL, 2.5 BATHS, FIREPLACE, DEN, FORMAL DINING ROOM, FINISHED BASEMENT

2006 TAXES - $11,095.28

2007 TAXES - $9,963.85

2008 TAXES - $7,596.19

S. MCNICHOLS / E. EVERGREEN


15600 FAIRMOUNT, DETROIT 48205




3 BEDROOM BRICK RANCH, FINISHED BASEMENT, GARAGE, SMOKE DAMAGED, STRUCTURALLY O.K.

2006 TAXES - $3,833.41

2007 TAXES - $3,394.11

2008 TAXES - $2,891.86

WATER - $878.00

S. 8 MILE / E. GRATIOT


3930 CADIEUX, DETROIT 48205




3 BEDROOM BRICK BUNGALOW, FORMAL DINING ROOM, FULL BASEMENT

2007 TAXES - $4,608.65

2008 TAXES - $3,647.38

WATER - $649.00

NORTH OF MACK


15422 WARD, DETROIT 48227



BRICK 2 FAMILY, (2) 2 BEDROOM UNITS, FIREPLACE, FORMAL DINING ROOM, FULL BASEMENT

2007 TAXES - $3,723.44

2008 TAXES - $2,564.50

WATER - $1,730.00

N. FENKELL / E. SCHAEFER


Here is an Eastpointe property that I had purchased for $1000.00 at an auction.



The back property taxes owed are about $5.000.00 with a utility bill of about $800.00.

The common theme in all of these properties is; back taxes owed for about three years and high utility bills.

So this problem with the banks does not fall directly on the banks. It falls in part on the local municipalities and the outrageous taxes that are placed on the homes, homes that for the most part have security doors to protect the homes from theft and vandalism.

Not exactly your poster home for high taxes and a high quality of living is it.

That is why you see Democrats like Maxine Waters and John Conyers complain about the banks when in fact it is the policies of local mayors like the now indicted Kwame Kilpatrick and assembly members like John Conyers' wife who jacked up the taxes that put in some cases, a monthly tax payment that was probably equal or higher than the mortgage payment in 2006 and 2007 on home owners.

And last but not least on the matter of assembly members taking the Obama approach to paying taxes. How about this one from the recent past:

Watson paid pittance for taxes on 'nonexistent' Detroit house

Detroit City Councilwoman JoAnn Watson paid only $68 in property taxes this year because city records say her well-kept, brick Tudor-style home doesn't exist. Although the home has occupied its west-side plot since 1926, city records have classified the parcel as an empty lot for the past decade.


You compare the property below with the rest of the properties above and you can see, it's who you know that plays in politics. And Obama politics play well in not paying taxes, until you get caught. Meanwhile the rest get "screwed by the man" or in this case, the woman and the man.



Just think how many people could have kept their homes with paying only $68 a year on a much smaller home.

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