….and it looks like U.S. Senate candidate Terrence Wall has yet another property in Middleton that he’s had zoned as agricultural in order to avoid paying his fair share of property taxes. The parcel in question is part of Wall’s Tribeca Village LLC. In 2008 the parcel in question was classified as commercial and had an assessed value of $1,202,400. Wall paid $20,660.85 in property taxes on that parcel, but after having the parcel reclassified as agricultural, its assessed value plummeted to $700, resulting in a property tax bill of just $12.88 in 2009.
Terrence Wall has been able to rezone his commercial properties into agricultural properties (thus avoiding paying his fair share of property taxes) thanks to the use value law, a law put into place to protect and preserve agricultural land from overdevelopment. It’s a loophole Wall is all too familiar with, having used the loophole in the past to avoid paying over $111,000 in property taxes for other parcels Wall owns in Middleton. Clearly Terrence Wall’s use of the use value law isn’t illegal, but his use of the law to avoid paying his fair share of property taxes for the properties his company owns shows that Terrence Wall the multimillionaire shares little in common with many of the citizens he aspires to represent, as those folks will most certainly have to pay their fair share of property taxes before the end of the year.
If you’d like to see a running tally of all the taxes Terrence Wall has avoided paying thanks to the loopholes he’s taken advantage of, click the Terrence Wall tax loophole tracker on the right.
To date, Terrence Wall has avoided paying over $131,000 in property taxes…it’s just too bad we’re not all able to avoid paying our property taxes our taxes like him!
10 thoughts on “It’s property tax time…”
“Clearly Terrence Wall’s use of the use value law isn’t illegal, but his use of the law to avoid paying his fair share of property taxes for the properties his company owns shows that Terrence Wall the multimillionaire shares little in common with many of the citizens he aspires to represent, as those folks will most certainly have to pay their fair share of property taxes before the end of the year”
I would suggest that he has a lot in common with the individuals he aspires to represent. Aren’t those same individuals trying to minimize their tax liabilities and maximize their returns? If not, what is deducting mortgage interest, student loan interest, taking advantage of the home buyers and energy credits? Or, are these only loopholes if they are taken by rich folks?
Your position seems to be that Wall is not qualified beacause he is wealthy and his potential constituents are not. Kind of a weak reason for not supporting Wall, no?
Zach, you and I have agreed on much, and disagreed on much. But your attacks on Wall ring as shallow uniformed partisan rehtoric. I note that, the ad hominem attach is the weakest form of argument and as a practical matter it is just lazy. I know that you are capable of making stronger arguments and I implore you to do so. To that end, attack Wall’s positions and I might agree with you.
In the mean time, happy holidays
Can you report how much he does pay????
The real issue is that Terry is using highly unethical loopholes to avoid paying rightful property tax, which is hurting the rest of the county. It’s a poor example by someone who seeks to be a public leader.
How’s it unethical, he acted with in the scope of the law? It’s no different than maximizing your deductions on your own tax returns?
And yet I can’t rezone my house and the lot it sits on as agricultural to avoid paying property taxes on it, can I?
It depends where your house is located. I know a number of people that have only their house zone as residential and the remainder of their property as Agriculture.
For those pointing fingers, I’m sure you feel the same about Obama’s record-setting number of withdrawals, botched and questionably unethical appointments, ie., tax cheats Tim Geitner, Tom Daschle, Nancy Killefer, Caroline Atkinson,and the allegations and ties to embezzlement, etc. of many others.
I agree that showing our support by voting in/voting out those that are/are not practicing honest, ethical, constitutional, smear-free behavior respectively, is imperative.
As the incumbent Senator Feingold’s approach to politics speaks for itself opposing my views and thus I chose to vote him out. I will also need to research his challengers to verify if the allegations stated in articles such as this one are based on truth or something else.
“I will also need to research his challengers to verify if the allegations stated in articles such as this one are based on truth or something else.”
Lori, everything here is based on truth.
I don’t know enough about taxes to understand the crux of this article.
My discerning eyes see an editorial pattern in the several articles about challenger Terry Wall found throughout this site.
All have nothing positive to say about Wall, in fact, I sense contempt that far outweighs that derserved by what Wall is being accused of. This article breaks the pattern, somewhat, indicating to me the beginning of a full-fledged smear campaign. It reminds me of the disdain Democrats have for Sarah Palin.
I’m actually encouraged by this.
Lori, if you’re encouraged by the fact that a candidate for the U.S. Senate has avoided paying over one hundred thousand dollars in property taxes on properties he owns, then that says a lot about you.
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