So Tiffany is a fan of Extreme Makeover: Home Edition, and I confess that in watching it with her I’ve been oddly fascinated by it as well. I’d love to know how the recipients of the newly remodeled homes are doing a year or two later, though. Are all of the bells and whistles more of a pain to maintain, or are they still as in love with the new digs as they appear to be when they first see them?
A better question is how they handle the tax implications. Do all of the improvements, including a pile of new furniture, appliances, and electronics, count as taxable income? How big a property tax hike do they get hit with? As Tiffany observes, most of these families are not exactly flush with cash. What happens when their little rundown houses become the nicest in the neighborhood? Just curious.
UPDATE: This site has nothing whatsoever to do with the TV show “Extreme Home Makeover”. If you’re capable of using Google, which you must be to have found this, you’re capable of figuring out the real contact info for this show. Comments are now closed.
I wondered about the tax implications also. Turns out, they answer that question in last week’s TV Guide. ABC leases the house for the project, and, in a tax loophole, all improvements made during a lease are not taxable to the leasees. So, while there will be property tax value increases, there isn’t any IRS liabilities. And, I believe, since they are in CA, and Prop 13 is still valid, they don’t get hit with increased property tax appraisals. Or at least not much.
Lee
Well, I’ll be. Thanks!
I wanted to try to qualify my grandmother’s house in home makeovers. What do I do ? What do I need?
What a breath of fresh air this program is. Always a happy ending in this day and age is absolutely wonderful. I can’t wait to see the next deserving family find out there is kindness in the world.
My mother is the most caring, dear person I know who, after my dad’s sudden death of cancer 2 yrs. ago has had to let her family home deteriorate because of a terrible financial situation. How can I qualify her for an extreme home makeover? She is in such need of one and so deserving!
I would love for you to do an extreme makeover on my youngest sisters house. She has two children, the youngest just turned two yrs. old. He had surgery 2 1/2 weeks ago and she had surgery less than a month ago. She started remodeling her kitchen in January, but with the two unexpected surgeries it has been impossible for her to continue. It would not only lighten her load it would delite her beyond words. I would love this for my sister that has been through so much this year.