City Files Foreclosure Suit on Bostwick Building

[AuditoreEnterprise]

I know it was about the fines. I was just saying maybe since the city doesn't pay tax certificates in the event of the foreclosure maybe they won't pay out judgments against the previous landowner in any case. I am not too familiar with the process of the fine foreclosures. But I see where it may have been misworded my apologies

[Gunnar]

Bostwick loss = tax write off

They will do fine.

Any tax experts here ? I doubt that they could use the last offer they received (and declined) as basis for determining their loss. Depends on what the adjusted basis for the building is.

Also, the next question (again, do not know enough about US tax laws) is even if they could show a loss, would this just decrease their taxable income (so tax decuction would be their tax rate * loss) or would it decrease their due tax amount ?

[fieldafm]

Who cares what they can write off on their taxes.
They refused about a half a dozen good, reasonable offers on the property since 2007.
And the entire time they let the building rot.
Good riddance.

I'm glad that chapter has been written and a new chapter has finally begun.

[Tacachale]

Who cares what they can write off on their taxes.
They refused about a half a dozen good, reasonable offers on the property since 2007.
And the entire time they let the building rot.
Good riddance.

I'm glad that chapter has been written and a new chapter has finally begun.

Here here.

[Bridges]

Who cares what they can write off on their taxes.
They refused about a half a dozen good, reasonable offers on the property since 2007.
And the entire time they let the building rot.
Good riddance.

I'm glad that chapter has been written and a new chapter has finally begun.

Word.

Not just let it rot, too.  Actively worked for demolition of the property.

[Gunnar]

Who cares what they can write off on their taxes.
They refused about a half a dozen good, reasonable offers on the property since 2007.
And the entire time they let the building rot.
Good riddance.

I'm glad that chapter has been written and a new chapter has finally begun.

Here here.

Definitely agree - the most important thing is that the building gets a new chance.

However, I feel it's a bonus that greed and stupidity did not go unpunished this time ,.so I hope there isn't the chance for a tax write-off - that was my point here