More Tax-Related Real Estate Issues for Rangel?

Just days after Representative Charles Rangel was allowed to keep his chairmanship of the House Ways and Means Committee, the NY Post reports on another possible headache for the Harlem Congressman.

It boils down to this: Rangel seems to have taken a "homestead" tax break on his old Washington D.C. home--but that tax break is only for primary residences. Which seems messy, since Rangel lives in a rent-stabilized apartment in Harlem--and tenants are only eligible for rent-stabilization if it's their primary residence.

Rangel and his wife owned the D.C. house between 1971 and 2000. They started renting three rent-stabilized apartments at Lenox Terrace in Harlem in 1988. A National Taxpayers Union spokeswoman tells the Post, "If a member of Congress maintains his or her principal residence in the state they represent, they would not qualify for the homestead exemption," while a Manhattan real estate attorney says, "If the [rent-stabilized] apartment in New York is not your primary residence, the landlord has the right to bring a court proceeding to have you evicted."

Rangel's office said they have asked Rangel's accountant to confirm whether he really did receive the D.C. homestead exemption. That accountant is either the worst or best accountant ever! Rangel has come under fire in recent months after it turned out he had four rent-stabilized apartments (he later gave one up) and didn't report rental income on a vacation villa.

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By Jen Chung in News on November 23, 2008 11:50 AM

Comments [rss]

SP

I voted for the Socialist Party candidate instead of this fool. What a joker. This guy is a dinosaur, not one of the younger, better, progressive democrats we deserve.

ma bell

why does he still have a job

camarilla

WHO voted for this man a few weeks ago?? I would say I don't understand how he got re-elected, but people really will vote for anyone with a D next to his name.

Snoopy

Give the guy a break he doesn't know tax returns. He's too busy with the Ways and Means of cheating the everybody. The people at H&R Block are the ones to blame.

starrygordon

We need term limits to get some new criminals in to replace the old criminals. The new ones might be greedier, but at least their acts wouldn't be worn out.

Rangel is a big Drug Warrior, isn't he? Corruption is only to be expected from such people.

smacky

This is insane. How long will we have to hear about this? Get rid of this mofo. Doing the "good" work doesn't excuse the fact that he is being a massive sh*thead.

Snoopy

He deserves one of those rent stabilized cells on Rykers. He's worked hard all his life for the people who live there.

Pull My Finger

He will walk away free and clear....it's different for democrats.

NannyState

Fortunately for Rangel, there are no property taxes assessed on jail cells.

Toby von Meistersinger

Well Charlie Rangel is a crooked son of a bitch, like most of Congress. He is more proof that we need some serious term limits to get some turnover and to allow for some real change. Without it, we get in the middle of the District of Columbia 400+ scumbags living high on the hog and ignoring the rules they force others to live by.

rcltrh

I would think JAIL would be appropriate for tax fraud. It would be for most any other citizen.

Spirit of 76

Now that the Democrats have clear control of Congress, they should clean house. Rangel wouldn't be able to whine about a partisan investigation if it's started by Democrats. Although I wouldn't put it past him to call it racially motivated. Maybe he was a good man once, although I can't speak to that. But if he was, he's walking, talking proof of the old maxim about power corrupting.

kissel

...and yet he somehow keeps getting re-elected. keep voting the party line people and you get what you deserve -- with either party. it's a shame so few hold their elected leaders accountable for anything.