Living Without Reserves

November 10, 2010

The residents at my condominium voted last night, as they do every year, not to put money aside for the big-ticket repairs and renovations we will someday have to undertake. I am always part of the minority that thinks we should put money into reserve funds, even though it would raise our monthly condo fees — which are not cheap to begin with — by 5 to 10 percent. But …

Taxing Castles In The Air

June 30, 2010

Everyone likes to build castles in the air sometimes. But from now on, avoid building them in Wisconsin, lest the government decide they are taxable. The Wisconsin Supreme Court recently ruled that a developer must cover the property taxes on all its declared condominium units, including the ones that haven’t been built yet. This ruling overturned an earlier appeals court decision that would have assigned the tax liability for the …

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