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About mmca22gr

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  1. Bt9

    Iceberg II, 47 Knightsbridge Park. Marketed by Templeton Robinson. asking £399,950 I have no record of either being up for rent on website - I just search my daily emails from to get the prices.
  2. Bt9

    A combination of asking prices for Iceberg I and Iceberg II 20/07/2011 £495k 07/1/2011 £450k 05/01/2012 £400k 26/10/2014 £399k
  3. Bt9

    Apt2, block 2 09/09/2011 offers at £150k
  4. Bt9

    14/01/2014 Colliers had it on the market as 2 apartments for £195k for both. needed lots of work . No idea what it sold for. 11/04/2105 on the market with Simon Brien for £297.500 16/05/2017 on the market with Simon Brien for £695,000 good luck to them. Someone bought tit and build a big extension etc I did not notice that it had been rented.
  5. Bt9

    Inflation will be more than 2% in real terms over the coming years. As stated earlier in this thread you can borrow for a 5 or 10yr fix at very cheap money. If you have a decent job then it is a no brainer to buy, fix for a longish term at cheap money and move on with your life.
  6. Media articles NORTHERN IRELAND Hpc Related

    Big data indeed. The numbers are there already and it should not be too difficult to extract and come up with much more equatable system than currently. My proposal proably has some massive holes and loopholes but it solve the problem of 'fairness' in some way. The pensioner who bought a £600k house for £80k 30yrs ago gets a great benefit over time if they do not move house but pay the tax in the early years. There is therefore no need to offer them a 20% discount. The rate can be struck every year to calculate out the £1.3bn required. If there are few transactions in a year then the multiplier is adjusted accordingly. Surely this stuff would be fairly easy to model? a couple of hundred £k to QUB would be a start. If they released the data then it could probably be done for free by interweb nerds. Sale Value, plot size (from ACE maps etc) SqM of space zoned as Residental/Commerical/Industrial. This data exists from the various government sources. Modelling this would throw up some big issues - then you work on solving those. When people buy a house they factor in the mortgage they will pay, the stamp duty and rates to be paid. I don't have a problem with removing the cap but the way in which it will be implemented. Remove the cap when a house sells? In any event a house in Drumbeg on 1.6 acres should not be paying disproportionately less than a house in Cambourne Park. they are only 3 miles apart.
  7. Media articles NORTHERN IRELAND Hpc Related

    Surely it could? The 'fixed' amount is £1.3bn Setting aside the business rates etc. LPS data should be linked to land registry data. Total value of property according to the land registry based on last price sold (or bequeathed/transferred etc). Maybe readjust the 'value' when someone builds an extension etc. Would the rates fluctuate that much per year? there are certainly ways to tweak the system given the information that is available.
  8. Media articles NORTHERN IRELAND Hpc Related

    Hard to disagree, but I have a problem with *can* pay more. Tricky to measure - means test everyone? I agree that it is hard to comprehend a system that has a house 'worth' £430k paying the same as one at £400k and one at £1.4m Maybe rates based on the last sale price is the fair way to go? Look at my examples in another post. Both houses selling at above the cap level but vastly different levels of rates paid under the proposed scheme. £670k vs £485k is a 38% price premium. But under the 'no cap' system the rates would be £7,250 vs £2,558 - an 83% premium.
  9. Media articles NORTHERN IRELAND Hpc Related

    Let's look at some examples: current offer is £485k. RV is £370k house is 263SqM (£1407 per SqM) on 1.6 acres. The rates with the cap removed will be £2558 per year (ie no change as RV is under £400k) current offer £670k. RV is £1m. House is 422SqM (£2370 per SqM) Maybe on 1/3 acre? The rates with the cap removed will be £7,250 Maybe we should have rates set at the last sale price? So the first house @ £485k = £3,352 for Lisburn council area. The second house selling at £670k would be £4,857. Is that fairer as a wealth tax?
  10. Media articles NORTHERN IRELAND Hpc Related

    Except it is not a true wealth tax as there are so many exclusions - ie those who get some sort of relief. A pensioner, those on benefits, Landlords, those who pay up front get a 4% discount, Charity shops, the list goes on and on. To suddenly double or triple the tax on someone based solely on the value of their own home is unfair since it is a pretty illiquid asset. A very easy target for Stormont. Why don't we go round every house and value their assets - like their TV, paintings, sofas, coffee machines, cars, clothes and then tot it all up and then tax them on the 'value'? "to have any kind of a cap is grossly unfair" - it could easily be argued that to have any kind of relief is grossly unfair. Why should a landlord get a 10% discount? Why should a single pensioner living alone in a £700k house get 20% discount? If we go that route then I hope that it is phased in over a long period to help people adjust. You may not believe it but there will be plenty of people who will feel the pain of a £100 per month tax increase. "Tough, sell your house then" I hear you cry. A local income tax is fairer but until then at least let's think about who actually pays for this local 'tax'. LPS wrote of £25m last year in rates debt (1.9%) There is £156m in ratepayer debt. Almost 14% of rates revenue is 'lost' in reliefs and discharges per year. £7.5m is 'lost' each year due to the cap. £42m in housing benefit, £43m in rates relief. The lone pensioners cost £5m. It makes for interesting reading beyond the 'tax those who live in big houses'. Annual report and accounts 2014 -15.pdf
  11. Media articles NORTHERN IRELAND Hpc Related

    Capped Rates in the UK. No real rates in ROI. Why change here? Because they can. And it only affects 'rich' people. Asset rich and cash poor.
  12. Media articles NORTHERN IRELAND Hpc Related

    No need to explain - It is a window tax. I would like the politicians to answer me this: Why should we be paying more in rates/council tax than Kensington and Chelsea?
  13. Media articles NORTHERN IRELAND Hpc Related

    "The amount that needs to be collected through rates is fixed. The rates system is a means to proportion this." This type of property tax is a pretty easy one for governments to collect but it is about as valid as a window tax. If it did not exist then it would be raised by income tax or corporation tax which are generally somewhat fairer. You have fallen into the trap of thinking that this *type* of tax is OK. It is very possible that you can have two families living side by side who have the same rates bill but have different levels of income so you are not taxing someone means or ability to pay you are forcing them to choose where to live not based on the price of the house but on an ongoing tax. I earn more than my neighbour but his house is 'worth' more than mine so let's tax him more money. I cannot control the value of my property in relation to other properties in a country or city. I can control how much I pay in VAT, petrol tax etc by usage and income tax is a sliding scale where the more I earn the more I pay. Let's say that Google open up a 'campus' in Strabane and property prices start to rise as better paying jobs flock to the area. Should someone who has lived there all their life have to pay more in rates because of rising property values? No, they should just have to move house because they can't afford the property tax! Talk about being priced out of an area - now we will be 'taxed' out of an area. Let's say may parents bought their fancy house in Malone 30 years ago for £60k. They paid the stamp duty etc and lived their lives in the area, adding to the character and bringing up a family there. They die and leave me the house - worth £500k in 2009 but the RV says £800k. I live here and start a family here and they go to school and I add to the community etc. Now I need to find an additional £200 pcm just to foot the increased rates bill. The bit that is missing is the number who get some sort of rate relief who are already being subsidised by those who pay nothing. That 'relief' is paid for by someone (likely through general taxation) and probably not by those who get the relief. Lets get the data from LPS and see who actually pays for what. See here - not exactly what I am after but commercial rates in a small part of Portrush - only 30% paying full amount. - The question is - who really pays this tax?
  14. Media articles NORTHERN IRELAND Hpc Related

    I understand the concept of rates but the value of your home does not equate to the 'greater means'. What happens to those who are happy to share a larger burden but are *unable* to? Housing wealth does not equal the ability to pay. The answer from those who do not pay is often - So just move house. Not so easy. or Equitable For Belfast your rates are spent as follows (45% of your total rates bill goes on these services) 15.83% Bins and recycling 1.27% Cemeteries and crematorium 2.35% Community services 20.76% Council management 2.12% Councillors 6.49% Culture and heritage 4.43% Economic development 6.80% Environmental health 17.00% Leisure 4.18% Maintenance of properties 3.14% Other services 3.37% Planning and building control 6.09% Street cleaning and public toilets 2.43% Tourism 3.73% Urban regeneration and community development Why not charge those who use planning services more money in fees? £6.5m a year from Belfast ratepayers towards planning and building control.
  15. Media articles NORTHERN IRELAND Hpc Related

    Equitable how? A house with an RV of £400k (the cap) is £2900 a month. So you think it is equitable that the rates should go up to £4350 on a £600k RV house? An extra £120 a month tax with zero uplift in the service. I suspect that the cap won't be removed altogether and likely be a sliding scale and phased in. What percentage of house in NI do you think actually pay full price in rates? Bear in mind that a rental property can get a discount on the full value. Pensioners (over 70) living alone get 20% discount. Those getting housing benefit get a discount. A pretty easy target for Máirtín, but I'm not sure he will get so many votes from the leafy parts of South Belfast next time round ;-) I think that Belfast rates are higher than council tax in London. Top band in Chelsea is £2k a year.