TAX RELIEF


M

malibu.ron

The city approved construction of a hotel directly in front
of my apartment building taking away the tenants ocean
views. The hotel approval violated every city code, ie:
height, density, etc. but it obviously mean't large taxes to
the city. My neighbors and I hired an expert land use
attorney to stop the permit but all to no avail.

Someone pointed out that the value of my property probably
dropped by $100,000+ due to the loss of views. Is there a
way to take the loss of property value on my tax return. I
know this type of deduction, loss of value, is allowed when
a community is declared a disaster area.
 
Last edited by a moderator:
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G

Gary Goodman

(e-mail address removed) says...
The city approved construction of a hotel directly in front
of my apartment building taking away the tenants ocean
views. The hotel approval violated every city code, ie:
height, density, etc. but it obviously mean't large taxes to
the city. My neighbors and I hired an expert land use
attorney to stop the permit but all to no avail.

Someone pointed out that the value of my property probably
dropped by $100,000+ due to the loss of views. Is there a
way to take the loss of property value on my tax return. I
know this type of deduction, loss of value, is allowed when
a community is declared a disaster area.
Not until you sell do you recognize a loss in value in this
case.

Gary
 
Last edited by a moderator:

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