July 22, 2011
To the Editor:
I am curious to whether or not the Town of Cornwall has a policy in place to recoup lost tax revenue on properties whose square footage, bedrooms, bathrooms, etc., have been artificially low for years?
The IRS seems to get a little ornery if they fond out an individual or an entity is underreporting income. Stands to reason that a procedure in place to check property inventory when a sale takes place would make sense. If there is a discrepancy, adjustments should be in order before the sale is allowed to go through.
There are some interesting things out there if one cares to look.
Tom Gordon
Cornwall
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