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TIL the crowdsourced US-Mexico border wall added over $20 million in taxable land improvement to a private farm, increasing the tax burden by 75 times (en.wikipedia.org)

submitted 1 month ago by [email protected] to c/[email protected]

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The 638 acres (2.58 km2) of land [We Build the Wall] built on is part of farmland that belongs to Neuhaus and Sons, and the wall added over $20 million in taxable land improvement, increasing the tax burden by 75 times. In January 2020, Fisher Industries started a lease-purchase agreement with Neuhaus and Sons for the land under the wall, but had not completed the ownership transfer by their court hearing on December 12, 2020, citing a problematic land survey by Fisher. Fisher's attorney, Mark Courtois, was hopeful the US government would become owners of both the wall and land. U.S. Customs and Border Protection (CBP) Public Affairs Officer Thomas Gresback said that the wall was privately paid for and on private property, and CBP does not have anything to do with the project. CBP is constructing its RGV-03 project wall outside the floodplain 0.3 miles (0.48 km) away.[66] As of July 2021, the property had been reassessed at 100 times its original value, and Fisher was hoping to sell a 3-mile section of wall (4.8 km) that had cost $30 million to build.[67]

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[–] [email protected] 2 points 1 month ago* (last edited 1 month ago) (1 children)

by more than 7,500%”, so I trust that the journalists did their journaling.

The "%" sign adds two zeros...

So 75x is the same as 7500%

I'm not trying to argue I'm trying to help you. If you don't want help. That's cool, I can stop trying.

[–] [email protected] 4 points 1 month ago

I think we have a misunderstanding here, but I don't know where. Here's my impression of the conversation:

You said the property tax actually was 100x.
I said that's 100x the land value; the tax rate isn't necessarily 100% of the land value. Basically what BassTurd said.
You said even if it was a different percentage, it increases linearly. (You then said something about increasing by 75x isn't the same as becoming 75 times the original. To that I'll say 1+75≠100 either.)
I said it's probably a bracket, so it probably doesn't increase linearly, hence about 25x/26x of the value didn't linear it. I do not understand the next reply.