In Pennsylvania Senate race, $1 homes are all the rage

[Magnus]

Republican candidate and celebrity doctor Mehmet Oz has been living with his wife at his in-laws’ home near Philadelphia as he wages his campaign to win Pennsylvania’s crucial U.S. Senate race.

The Oz campaign says he’s residing there while the nearby home he bought for $3.1 million in December of last year is renovated. And, during a recent back-and-forth with his opponent, Lt. Gov, John Fetterman, over which candidate is more out of touch with the average voter, Oz took a jab at the Democrat for having purchased a home from a family member for $1. Allegheny County records show Fetterman did buy a Braddock property for $1, and that the value of that property is now $238,200.

In one tweet attacking the purchase, Oz writes, “Only in John Fetterman’s world can you go house hunting and get a home for $1.”

But it turns out that is possible in Oz’s world too. An NBC News property records search showed that the candidate’s mother-in-law, Emily Lemole, also bought her home in the Bryn Athyn neighborhood for $1 in August of 2000. The appraised value of that home currently stands at $509,820.

In Pennsylvania Senate race, $1 homes are all the rage

After attacking John Fetterman for buying his home from a family member, the Oz campaign defends its candidate's own arrangement.

www.nbcnews.com

 

[kyzr]

WTF does it matter what Oz' mother-in-law does?

Maybe she bought it at a tax auction and fixed it up?

 

[candycorn]

Does anyone have a clue what Oz's policy positions are? Does he have any?

 

[MisterBeale]

They are both tools.

It won't matter who wins, the voters lose.

 

[The Duke]

Does anyone have a clue what Oz's policy positions are? Does he have any?

Probably not something outrageous and anti-American.

 

[Polishprince]

Does anyone have a clue what Oz's policy positions are? Does he have any?

Doc Oz is in favor of pursuing a policy of excellence in the US Senate. Can Pennsylvania do better than the trustfarian Stroke Boy Uncle Festerman?

I think so, and the great and powerful Oz is a tremendous choice. A successful physician and TV personality, the man is groomed and dresses together to make a good impression of our Commonwealth.

 

[kyzr]

Does anyone have a clue what Oz's policy positions are? Does he have any?

Yep, but you need to read them.

Issues - Dr. Oz for Senate

Dr. Oz is running to put America First and empower the American people. Rush your support now!

doctoroz.com

Add to that the new GOP Commitments list.

 

[1srelluc]

So a whole lot about nothing....Got it.

 

[The Original Tree]

Republican candidate and celebrity doctor Mehmet Oz has been living with his wife at his in-laws’ home near Philadelphia as he wages his campaign to win Pennsylvania’s crucial U.S. Senate race.

The Oz campaign says he’s residing there while the nearby home he bought for $3.1 million in December of last year is renovated. And, during a recent back-and-forth with his opponent, Lt. Gov, John Fetterman, over which candidate is more out of touch with the average voter, Oz took a jab at the Democrat for having purchased a home from a family member for $1. Allegheny County records show Fetterman did buy a Braddock property for $1, and that the value of that property is now $238,200.

In one tweet attacking the purchase, Oz writes, “Only in John Fetterman’s world can you go house hunting and get a home for $1.”

But it turns out that is possible in Oz’s world too. An NBC News property records search showed that the candidate’s mother-in-law, Emily Lemole, also bought her home in the Bryn Athyn neighborhood for $1 in August of 2000. The appraised value of that home currently stands at $509,820.

In Pennsylvania Senate race, $1 homes are all the rage

After attacking John Fetterman for buying his home from a family member, the Oz campaign defends its candidate's own arrangement.

www.nbcnews.com

How does someone get away with purchasing a home for $1?

 

[Polishprince]

How does someone get away with purchasing a home for $1?

Its not an "arms length" transaction.

Its a transfer between close relatives.

 

[kyzr]

Its not an "arms length" transaction.
Its a transfer between close relatives.

Yep, just shows that Fetterman is a charity case who never had a job and never earned anything, what he has he was given.

 

[Polishprince]

Yep, just shows that Fetterman is a charity case who never had a job and never earned anything, what he has he was given.

Uncle Festerman was truly blessed with a generous and well-heeled family.

They even pay for his children to attend an expensive private school in the adjacent city of Pittsburgh instead of the failed government schools of the city he ruled over.

 

[Correll]

Its not an "arms length" transaction.

Its a transfer between close relatives.

Yes. Some people believe it is a way to avoid inheritance tax or something like that.

THe downside is that if he ever sells it, at real market rates, the entire cost, minus that one dollar, will be profit that will be taxed.

 

[WorldWatcher]

THe downside is that if he ever sells it, at real market rates, the entire cost, minus that one dollar, will be profit that will be taxed.

If you are talking about Fetterman's house...

No it won't, be taxed at sale price (-$1) that is. (Assuming the house is the primary residence.)

WW

 

[marvin martian]

Republican candidate and celebrity doctor Mehmet Oz has been living with his wife at his in-laws’ home near Philadelphia as he wages his campaign to win Pennsylvania’s crucial U.S. Senate race.

The Oz campaign says he’s residing there while the nearby home he bought for $3.1 million in December of last year is renovated. And, during a recent back-and-forth with his opponent, Lt. Gov, John Fetterman, over which candidate is more out of touch with the average voter, Oz took a jab at the Democrat for having purchased a home from a family member for $1. Allegheny County records show Fetterman did buy a Braddock property for $1, and that the value of that property is now $238,200.

In one tweet attacking the purchase, Oz writes, “Only in John Fetterman’s world can you go house hunting and get a home for $1.”

But it turns out that is possible in Oz’s world too. An NBC News property records search showed that the candidate’s mother-in-law, Emily Lemole, also bought her home in the Bryn Athyn neighborhood for $1 in August of 2000. The appraised value of that home currently stands at $509,820.

In Pennsylvania Senate race, $1 homes are all the rage

After attacking John Fetterman for buying his home from a family member, the Oz campaign defends its candidate's own arrangement.

www.nbcnews.com

This is a non-issue. It happens all the time in shithole blue cities that have been turned into war zones by DemoKKKrat policies. They sell the houses for $1 so the city doesn't have to spend money tearing them down. Guess what, though? Your property taxes won't be based on a value of $1 (of course).

 

[Correll]

If you are talking about Fetterman's house...

No it won't, be taxed at sale price (-$1) that is. (Assuming the house is the primary residence.)

WW

No, I mean when he goes to sell it to someone else at a market rate. That is the downside of the tactic. His profit margin then is the whole value of the house, minus ONE DOLLAR.


The tactic really only "works' if the house NEVER leaves the family.

 

[WorldWatcher]

No, I mean when he goes to sell it to someone else at a market rate. That is the downside of the tactic. His profit margin then is the whole value of the house, minus ONE DOLLAR.


The tactic really only "works' if the house NEVER leaves the family.

Again talking about Fetterman's house which the a previous post mentioned was not valued at $238,200.

There is a tax exemption of $250,000 on profit of the sale of a primary residence for a single person, the married rate doubles to $500,000.

So if Fetterman purchased the house for $1 and sells it at current market value then the tax liability on the profit is $0. They (married couple) would have to sell the house for over $500,001 for there to be a tax liability.

(Off Topic: A Widow or Widower can also claim the $500,000 married exemption as long as the house is sold within 2-years of the spouse passing.)

WW

 

[Correll]

Again talking about Fetterman's house which the a previous post mentioned was not valued at $238,200.

There is a tax exemption of $250,000 on profit of the sale of a primary residence for a single person, the married rate doubles to $500,000.

So if Fetterman purchased the house for $1 and sells it at current market value then the tax liability on the profit is $0. They (married couple) would have to sell the house for over $500,001 for there to be a tax liability.

(Off Topic: A Widow or Widower can also claim the $500,000 married exemption as long as the house is sold within 2-years of the spouse passing.)

WW

Isn't that a one time thing? First home sale?

 

[whitehall]

Fetterman is living in his mom's basement. What democrats see in this guy is puzzling. Maybe it's TDS.

 

[marvin martian]

Fetterman is living in his mom's basement. What democrats see in this guy is puzzling. Maybe it's TDS.

The (D) behind his name is all that matters. He's a drooling idiot stroke victim with a history of racism, who can't form a complete sentence and can't hold a thought in his head for more than two seconds, and the left LOVES him. It's the same way we ended up with President Pudding Pop.