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Old 05-11-2007, 02:56 PM   #1 (permalink)
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Default Fixing up House = Taxable Improvement???

So I live in MAINE, where it's winter 4-5 months out of the year. We recently put up insulation board and vynil siding on our house. The other day the ****ing tax guy stops by and claims at this was a taxable improvement and needs to be reflected as such. What the **** is wrong with this country? When did "trying to stay warm and save energy" become a taxable cause? No wonder everyone's houses around here look like ****....
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Old 05-11-2007, 03:09 PM   #2 (permalink)
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Default Re: Fixing up House = Taxable Improvement???

I think that means you can write it off on your taxes... I did new windows and insulation in my basement and I got to write it off as a home improvement.. I don't know much about taxes but I think you might have miss understood.
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Old 05-11-2007, 03:10 PM   #3 (permalink)
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Default Re: Fixing up House = Taxable Improvement???

BTW i live in michigan
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Old 05-11-2007, 03:31 PM   #4 (permalink)
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Default Re: Fixing up House = Taxable Improvement???

I agree with what jspot said, hopefully its just a write off and you can get a deductible for that.
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Old 05-11-2007, 03:35 PM   #5 (permalink)
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Default Re: Fixing up House = Taxable Improvement???

Hmm... I'll have to bring that up to my dad...
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Old 05-11-2007, 04:10 PM   #6 (permalink)
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Default Re: Fixing up House = Taxable Improvement???

Not a US resident but I think that taxing you for fixing up your house is a little on the insane side, in the UK i have never heard of anyone paying tax for home improvement.
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Old 05-11-2007, 07:40 PM   #7 (permalink)
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Default Re: Fixing up House = Taxable Improvement???

Your improvements have increased the value of your home, so your property taxes will be adjusted once they file a new appraisal. It sux, but that's the way it works.

I put up a storage building out back, one of the nice ones that looks like a small barn, and my taxes went up a bit. If I have the two trees removed that I want gone, my taxes will probably go up a little more because of it.
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Old 05-11-2007, 10:55 PM   #8 (permalink)
 
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Default Re: Fixing up House = Taxable Improvement???

i wen't to the doctor and my brother needs to lose wight but he can't run or do exercise, so the only thing he can do is walk or w=swim, now heres te cool part the doctor told us we could use it as a tax rideoff, so if we buy a pool and send the doc's note to the irs we get 7k back, but then theres still the other 43k the pool guy said the pool would cost
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Old 05-15-2007, 11:45 PM   #9 (permalink)
 
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Default Re: Fixing up House = Taxable Improvement???

Trotter his it on the head. Increase in property value increases property tax via percentage of property value. Added a garage, this increased property value and in the end the taxes. It sucks, but it helps pay the governments programs, albeit some are a little frivolous, but hey... not my decision.
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