Re: flip tax
From: Jeanne Goodman-JP Cohousing (goodmanjjpcohousing.org)
Date: Sun, 11 Feb 2007 18:45:32 -0800 (PST)
Dear Ruth,

I'm hoping one of my neighbors can help you with the details of our 'flip tax' but there were some items that proved useful in discussion that may help...

* Some members found it helpful to consider that we are committed to maintaining a healthy waiting list and that the tax is less than the cost of a broker. * Our payment goes toward a reserve fund and it is a big selling point to have an association with a very strong and health reserve fund (it makes assessments much less likely) * Our fee kicks in only after a certain percentage of profit after the cost of home improvements are deducted so you aren't penalized for improving the property * Just as a point of interest, members also make donations to the general fund of 10% above the cost of any home improvements. The thought being, I've done something just for me and now I'm going to think of the whole community.

Jeanne Goodman
Jamaica Plain Cohousing
Boston, MA

----- Original Message ----- From: "Ruth Hirsch" <heidinys [at] earthlink.net>
To: <cohousing-l [at] cohousing.org>
Sent: Sunday, February 11, 2007 8:56 PM
Subject: [C-L]_ flip tax


Dear Co-Co-housers,

We're [again] discussing having a 'flip-tax', aka love offering
aka.......
some form of giving money to the community upon leaving.

We've discussed this and it's never been implemented....

possibilities on the table are asking for 3% of sale price of house
or
3% of profit from sale of house.

Both have complexities.

I'd appreciate getting examples of what you may be doing with this.
If we've done this thread, let me know, and excuse my not-remembering.

thanks,

Ruth Hirsch

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  • flip tax Ruth Hirsch, February 11 2007
    • Re: flip tax Jeanne Goodman-JP Cohousing, February 11 2007

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