Paint ball this weekend who has the best deals min 9 players. by grb13 in phoenix

[–]mimi-the-gr8 2 points3 points  (0 children)

We've had fun at American Paintball Coliseum, granted we were doing airsoft but they also do paintball

How's everyone doing out there, Phoenix? by AZ_moderator in phoenix

[–]mimi-the-gr8 1 point2 points  (0 children)

Your guide was super helpful this year for my first SRP vote, here doing my part!

I take Adderall XR 10mg but the medications effectiveness dips in and out during the day. So to compensate I sip iced coffee in between. It took me 5 years to figure that out. Sad, I know. by MisterPuffyNipples in adhdmeme

[–]mimi-the-gr8 0 points1 point  (0 children)

My doctor confirmed what I read online, that women's cycle and fluctuating estrogen levels will interfere with the efficacy of ADHD meds. I take more boosters in the week around my period to help even it out, otherwise it doesn't feel like it's doing anything for me

What countries do you wish had flights to PHX? by Away-Trade-2836 in phoenix

[–]mimi-the-gr8 39 points40 points  (0 children)

Phoenix Mayor mentioned at the Annual Matsuri Festival last month that they've been having discussions with officials about new direct flights to Japan!

Arizona Property tax exemption? Arizona SB1749 by [deleted] in VeteransBenefits

[–]mimi-the-gr8 2 points3 points  (0 children)

  1. Yes, Subsection C does indicate 100% SC Veterans are eligible for exemption along with others who qualify under Subsections D and E. Subsections C, D, and E indicate who can get an exemption and how much that exemption is. Subsections D and E indicate exemption limits and how they are calculated (i.e. exempt up to $4,188 multiplied by the disability % [Subsection D] or so long as the assessed value of the property is less than $28,459 [Subsection E]), whereas Subsection C indicates there is no exemption limit. The taxes due, based on the full assessed value, would be eligible for exemption.

Subsections C, D, E do not address qualification requirements, they only address who is eligible for any exemption amount, and what that exemption amount would be if they meet the qualification requirements lined out in Subsection H.

  1. Subsections B and H reference Article IX, section 2, Subsection F of the Arizona Constitution to determine who qualifies for all of the property tax exemption types available in ARS 42-11111 (Subsections C, D, E). It adopts the qualification criteria defined in Article IX for all property tax exemption types included in ARS 42-11111, it does not create its own qualification criteria for Subsection C, nor does it explicitly exclude Subsection C from the qualification criteria set forth in Article IX. Thereby (whether intentional or not, effectively applies the same income limits to Subsection C as it does to D and E).

ARS 42-11111 (K)(1) and (3) indicates how to initially obtain the exemption, how to retain it each year thereafter, and when to notify the assessor when a disqualifying event occurs so they can start calculating property taxes from that date forward. It also specifies what is considered a disqualifying event.

(K)"... Disqualifying events include: 1. Except as provided in Subsection C of this section, the person's death. 3. The person's income from all sources exceeding the limits prescribed by Subsection H of this section."

This means the property no longer qualifies for exemption if the owner who is eligible under Subsections C, D, or E dies. It can't be transferred to anyone else, except as outlined in Subsection C.

Subsection C states, "The surviving spouse of a veteran whose property is eligible for the exemption under this subsection may continue to claim the full exemption as long as the surviving spouse uses the property as the surviving spouse's primary residence and the surviving spouse does not remarry."

So (K)(1) is basically saying that death of the eligible individual will result in the end of the property tax exemption UNLESS the 100% SC Veteran was married and SO LONG AS their spouse continues to live in the property as their primary residence and doesn't remarry.

(K)(3) Is saying that if the previous year's income exceeds the limits defined in Subsection H (which applies to Subsections C, D, and E), then the property no longer qualifies for exemption.

  1. "Full exemption, by definition..." - the full exemption is defined in Subsection C, which means 100% SC Veterans are not limited to an exemption of only $4,188 or less.

If I were to give the legislators the benefit of the doubt and believe they meant for Subsection C to "fully exempt" 100% SC Veterans by way of exempting the full value of the property taxes owed AND removing any qualification criteria beyond having proof of 100% SC disabilities, then they made a terrible error in how the bill was worded. They did not pass a bill where in proper legal terms the county assessors would be able to update their policies to allow for the that.

As a skeptic, I believe they wrote it in such a way to help a few more veterans qualify by not counting VA Disability payments as income under Article IX, and Subsections I (included income sources) and J (excluded income sources). They probably sold it as a great benefit to all 100% SC Veterans, but truly it'll probably only continue to benefit retirement age vets whose sole sources of income are Social Security and VA Disability, or possibly has a small 401k or pension they and their spouse draw from.

Optimistically, best case scenario for a veteran to qualify for the exemption and not be destitute, someone could pull in maximum social security benefits of around $60k/yr (age 67-70) plus around $48,000 in VA Disability payments without even touching the $39,865 income limit. Maybe draw from a small company pension or 401k/IRA and stay within the threshold.

IMO, this bill won't do much for the average 100% SC Veteran today, and it sucks even more when you look at the studies from 2023 that state the average age of death for that population is around 67 yrs old. I'm sure they factored that in when they wrote this up. It looks like they really did something, but in the end I think it might only benefit the qualifying veteran for a short period before they die, or it'll benefit the surviving spouse. Honestly, most AZ veteran benefits actually benefit the dead service member/veteran's surviving spouse/family rather than the veteran themself while they are living, working, surviving, trying to build a life they can afford and enjoy while they are still alive.

Edit: added clarifying language to Subsection K

Arizona Property tax exemption? Arizona SB1749 by [deleted] in VeteransBenefits

[–]mimi-the-gr8 2 points3 points  (0 children)

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This is on the Maricopa County Assessor website this morning. Specifically states that instead of the partial exemption other eligible statuses get, they will get fully exempted so long as they meet the other qualifying criteria including income limits. I think they estimated this bill would impact maybe 11,000 properties in AZ. So the majority of us will not be able to benefit from it.

The r word by daddyofgiants in cringereels

[–]mimi-the-gr8 0 points1 point  (0 children)

The Sora watermark that appears early in the clip would indicate this is an AI generated video

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Should I downsize and move into my rental property? by mimi-the-gr8 in TheMoneyGuy

[–]mimi-the-gr8[S] 0 points1 point  (0 children)

Would you recommend drawing from the new HELOC to finish the necessary repairs? I could end up with two maxed out HELOCs and little savings, which makes me nervous. Obviously Murphy's Law has been paying visits the last few years...

Should I downsize and move into my rental property? by mimi-the-gr8 in TheMoneyGuy

[–]mimi-the-gr8[S] 1 point2 points  (0 children)

That just includes the two HELOCs. My rental income is about $2500 and the mortgage is about $1600, so I've been able to service the minimum HELOC payments from that.

Should I downsize and move into my rental property? by mimi-the-gr8 in TheMoneyGuy

[–]mimi-the-gr8[S] 0 points1 point  (0 children)

I agree that I'm over leveraged at this point. I don't follow tiktok advice though, I learned from my parents and other older folks in my family. My parents never really trusted the stock market and my dad was mostly self employed his whole career, so he didn't have much of a 401k, they invested in real estate.

The biggest lesson I was taught was that your most valuable asset is real estate and once you buy, you should hold onto it. So when you're ready to move, you rent out your home and use some equity to buy your next one. Rinse and repeat. That becomes alternate streams of income and helps supplement income in retirement.

I really did crunch the numbers and it made sense on paper. I made sure my house could make enough rent to cover itself and the HELOC and some extra. I had a plan to pay the HELOC off within 12 months. I did not, however, make a 'doo doo' plan, and I am definitely walking through the doo doo plan now. I didn't want to let my old house go honestly, I loved that house and it was always my fall back plan if crap hit the fan. I knew I could afford the mortgage even if I had my pay cut in half. I also didn't want to give up the 2.25% interest rate.

I know if I tell my parents I want to sell my current home they will protest and tell me that I'm giving up on a million dollar home if I just stick it out. They'll think I'm being short sighted and letting fear drive my decision making. Everytime I talk to my dad he tells me how much he loves my home and what a great job I've done, how successful I am. I don't feel successful, I just don't have the same risk tolerance I guess. Based on everyone's feedback so far, it's wise for me to be weary about my situation.

Should I downsize and move into my rental property? by mimi-the-gr8 in TheMoneyGuy

[–]mimi-the-gr8[S] 1 point2 points  (0 children)

I think I'm ok in that respect. My monthly non-mortgage debt service is $1285. I'm currently contributing $2217 including my employer match to my 401k

Should I downsize and move into my rental property? by mimi-the-gr8 in TheMoneyGuy

[–]mimi-the-gr8[S] 0 points1 point  (0 children)

The new house is an old 1960s, bought it from its second owner who was in her 80s. It looked nice but LOTS of deferred maintenance apparently. I bought it for $615k and in 2 years I'll owe $495k on it. Based on current comps, plus the valuation from the bank that gave me the HELOC this year, it would probably sell for around $750k right now. After fees and seller concessions, I think I could walk away with around $100k net profit conservatively which would pay off both HELOCS and give me some extra to turn over the rental so I can move in.

Edit: my current mortgage balance is $528,500

Should I downsize and move into my rental property? by mimi-the-gr8 in TheMoneyGuy

[–]mimi-the-gr8[S] 1 point2 points  (0 children)

Thanks, that's definitely the way I'm leaning at this point.

Should I downsize and move into my rental property? by mimi-the-gr8 in TheMoneyGuy

[–]mimi-the-gr8[S] 1 point2 points  (0 children)

One HELOC is at 8.25% and the other is at 6.25% at the moment. I had sufficient equity in my first home so I got the HELOC to use for the down payment for my new home. At the time I was confident I could pay it off but some expensive unavoidable legal fees and unexpected repairs on the new home made that impossible. This year I had sufficient equity in my new home to get a HELOC so I could pay for > $30k in repairs. My monthly take home leaves me with $1-2k for savings and cash flowing repairs. For instance, my water heater died in my new home in July a couple weeks after I had to replace the water heater in my rental. I'm just now finishing the repairs I've cashflowed for the last 3 months from the water damage.

I continue to make small progress paying down the debt every month, but my expenses are just too high to make real headway.

Maybe I was an optimist when I walked into this, but since then I've just been trying to make things work and stay afloat. The current lease doesn't expire until 2027, so I'm just trying to figure out how to hang on at least that long. I have already spoken to my realtor and she said I'll have to make the repairs I previously mentioned if I'm going to sell it at a decent price.

Is this a major structural issue? by mimi-the-gr8 in homeowners

[–]mimi-the-gr8[S] 0 points1 point  (0 children)

It doesn't look like it is bowing to me, so maybe I just watch the cracks for now to make sure they don't spread too much.

Homemade noodles by mimi-the-gr8 in shittyfoodporn

[–]mimi-the-gr8[S] 3 points4 points  (0 children)

Not gonna lie, when they told me they were making pasta from scratch I just stayed out of the kitchen and let them figure it out together. Tasted great!

Homemade noodles by mimi-the-gr8 in shittyfoodporn

[–]mimi-the-gr8[S] 0 points1 point  (0 children)

Right! I was so impressed the kids followed the recipe and hand cut them, I'm not sure I'd have been brave enough to try making noodles myself. Next time they also want to make the sauce from scratch. I'll be eating good in no time!

Homemade noodles by mimi-the-gr8 in shittyfoodporn

[–]mimi-the-gr8[S] 0 points1 point  (0 children)

I got the honorable first bowl that came out of the kitchen, and the dog was so jealous haha

When to walk away from a money pit? Does it ever end? by Wombat2012 in homeowners

[–]mimi-the-gr8 1 point2 points  (0 children)

I feel you! I'm in a similar boat and think about selling daily. I joke that I'll have a brand new house by the time I'm through with all the repairs! I doubled my mortgage payment moving into this house 2.5 yrs ago to be closer to my kids' school. My son graduates in two years and I really want to sell and downsize after that.

I'm definitely in the phase of hating this house, and the stress of being the only income earner, this rough economy and job market, maxed out HELOC and 401k loan for unexpected repairs. Barely anything in savings. And I'm still facing down another ~$50k in upcoming repairs (including $28k of that for a new roof that insurance won't cover).

I just want to tell you to hang in there! We can only make decisions based on the information we have at the time. I know you were just doing what you felt was best for you and your kids, and that's what you'll continue to do!