This article is basically about how Watchtower is going to put the kibosh on some taxes for this rural area of upstate New York, but to me that is not what I find most interesting. Thinking of it from the psychology standpoint of North American witnesses far removed from NY, first, they hear Lett "not" begging for money, then they see an article like this that calls them "Luxury" Apartments. Now... I know they are probably not really the height of luxury in Fishkill NY, however most witnesses in the country don't know that, they just hear "we need money" & "witnesses obtain luxury apartments".
Luxury Apartments
by freemindfade 4 Replies latest watchtower scandals
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OneFingerSalute
We must obey any orders that come from "mother" no matter how insane they may be. That must be why they paid $56,000,000 for a property assessed at $31,000,000.
And then Loony Lett has the temerity to flap his rubber gums about a projected "shortfall" of income versus spending? Are the typical JDubya's THAT stupid?
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OnTheWayOut
Despite the assessment, the Watchtower apparently paid $57 million for it, based on calculations from the transfer tax on the deed.
We must obey any orders that come from "mother" no matter how insane they may be. That must be why they paid $56,000,000 for a property assessed at $31,000,000.
Here is an article that explains the difference between assessed, appraised, and market values:
http://www.nytimes.com/2004/08/08/realestate/your-home-market-vs-appraisal-what-s-the-real-value.html
Assessed values are not always the same as market values or appraised values.
Assessors may have their own reasons for valuing something lower than the buyer would pay in order to equalize the taxes for an area. Knowing that the property will lose it's tax-paying status, he may even have gone lower for political reasons. Or that's simply the way it's valued in that area in order to fit the tax structure enforced upon all home-owners.
Yes, Watchtower is selling in one area and buying in another. They will get volunteers to resurface the parking, tuck point, clean up, repair, redecorate, garden, yadda yadda yadda at these apartments and increase the value. They will one day sell them for a greater price than they paid. -
JHK
Taxes that the Governing Body will not pay, will pay the citizens of Warwick.
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JHK
Our Witness Neighbors:
Taxes Not Paid by Witnesses Cost City $10 Million a Year