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Thread: Will NAMA pay property tax?

  1. #1
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    Will NAMA pay property tax?

    Should this be dealt with in the law? We could end up on a paper chase of property tax for NAMA if not careful.

    Also do we need to change the laws on squatting etc to protect the state when it becomes a huge owner of empty property?

  2. #2
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    My limited understanding of NAMA is that they will buy the loans, but not the property......not too sure how that works, but this is a FF/GP plan, afterall......

    If NAMA ends up paying property tax,then Joe and Mary on the street will be paying such tax for the greed of others......I throw my hands up......WHAT NEXT...!!!!
    The hurt of one is the hurt of all, the honour of one is the honour of all.

    Native American Indian Traditional Code of Ethics

  3. #3
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    Quote Originally Posted by Newsy View Post
    My limited understanding of NAMA is that they will buy the loans, but not the property......not too sure how that works, but this is a FF/GP plan, afterall......

    If NAMA ends up paying property tax,then Joe and Mary on the street will be paying such tax for the greed of others......I throw my hands up......WHAT NEXT...!!!!
    I know it takes the loans, but many of them are finished paying back so the will have to take back the keys. We will own thousands and thousands of properties around the country. Get ready for an industry in sorting out security, water meters and property taxes on state owned homes.

  4. #4
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    Quote Originally Posted by Newsy View Post
    WHAT NEXT...!!!!

    probably a load of handy jobs making sure that the expenses NAMA are claiming are not excessive

  5. #5
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    Quote Originally Posted by X-ray View Post
    Should this be dealt with in the law? We could end up on a paper chase of property tax for NAMA if not careful.

    Also do we need to change the laws on squatting etc to protect the state when it becomes a huge owner of empty property?

    anyone any further thoughts on this after the details that were outlined today?

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