malibu.ron[at]verizon.net says...

- quote -

Not until you sell do you recognize a loss in value in this
case.

Gary

--
E-mail to the above address is rarely read. If you want to
contact me directly, please send an e-mail to: gary at
gdgoodman dot com.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

The city approved construction of a hotel directly in front
of my apartment building taking away the tenants ocean
views. The hotel approval violated every city code, ie:
height, density, etc. but it obviously mean't large taxes to
the city. My neighbors and I hired an expert land use
attorney to stop the permit but all to no avail.

Someone pointed out that the value of my property probably
dropped by $100,000+ due to the loss of views. Is there a
way to take the loss of property value on my tax return. I
know this type of deduction, loss of value, is allowed when
a community is declared a disaster area.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >