If it’s that big of a problem for their life, why not just sell the house and be multi-millionaires? It’s a non-story. Maybe they should’ve taken that into consideration.
Maybe it is different for me because I moved every couple years growing up. I have lived in 15 places in my life, and the most recent is a record of over a decade.
Their taxes were grandfathered in because they bought the property at a much lower value, the house was already worth a lot more than they paid for it.
If it’s that big of a problem for their life, why not just sell the house and be multi-millionaires? It’s a non-story. Maybe they should’ve taken that into consideration.
So, the house is now valued at 6x the original value? If they sold it at only 4-5x it would still be a huge win.
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Maybe it is different for me because I moved every couple years growing up. I have lived in 15 places in my life, and the most recent is a record of over a decade.
They wanted a new, two-story house, but with a tax loophole to save money.
Their taxes were grandfathered in because they bought the property at a much lower value, the house was already worth a lot more than they paid for it.
Completely true, but not a loss.