It seems ironic that the Senior PGA Championship is in town, because in the last column, I promised that this time we would discuss the proposed legislation in New York State to tax golf course land at the value of its “highest and best use.” To be honest, even assuming that on some level it makes sense, because many local and state governments are desperate for more revenue, and, in the future, they may have to put everything on the table, and be more creative than ever, in order to raise new revenue. I don’t even know how it would work.

It seems to me that it would require an impossibly detailed statute, and/or a lifetime of court challenges and decisions. We all know that the best evidence of value, especially when it comes to real estate, is an actual, good faith, viable third-party offer. We also know that when there is not such an offer, an appraisal is some evidence of value, but, in reality, it is part art and part science, and it is sometimes more accurate than at other times, usually when there have been a number of recent, truly comparable, sales. So could this assessment at the “highest and best use” only be used when there is an actual offer for the entire course, not just some of the land, or could we use it for just some of the land when there is an offer for that particular land?

See where we are going? If there is no offer, are we going to just have an appraisal with most likely no legitimate comparable sales? That’s just asking for protracted litigation. After all, golf courses are not sold every day. Would the appraiser imagine a residential development, a commercial development, or something else? Then would we start to see collusive offers by developers that would have to be ferreted out? The bottom line for me would be the horror of implementation. Then what about that excess land owned by churches, colleges and universities, and other nonprofits? Are they next? If not, why not?

On a different subject, there is a lot in the news these days that should make some of us realize that we may have to increase our budgets in certain spending categories, and that we should start doing it now. In the past we have recommended those increases for individuals who see themselves as pet parents, rather than pet owners. In addition, we have recommended increases for those who hope to live longer, and, therefore, will need more money for their likely increased medical expenses.

Here are a few items that you might need to save more for in the future.

$ A recent radio commercial indicated that 30% of Americans will put home renovations on a high interest credit card, and pay significantly more for them. I understand this to be home renovations and improvements, not necessary repairs. It reminds me of a number of years ago when I did a presentation in a high school. On the way out of the building, the teacher I was speaking for said,  "So after listening to you today, I guess putting my new kitchen on a credit card was not a great idea." The bottom line is that home improvements are an anticipated expense that you should save for.

$ For months now we have all been wondering how the tariffs on Chinese goods might affect our pocketbooks. There was speculation as to whether importers or retailers would absorb all or part of the tariffs. Last week all the speculation ended. Walmart, America’s largest retailer, said that it will raise prices on some products as a result of the tariffs. According to CNN.com, Walmart s imports 26% of its merchandise from China, and Target imports 34% of its products from China. Other companies, including sporting goods, auto parts and furniture retailers, have even greater exposure to China. It is unclear yet which products will see an increase in prices, and then, by how much, since those retailers and importers will no doubt absorb some of the tariffs. It is also unclear how long this will last, because at some point a comprehensive agreement may be reached. The bottom line is, it might be useful to get a handle on how much your family tends to spend on imported Chinese goods, and then start uping your budget and saving for the possible increases. This may be especially true for back to school shopping and if you are looking for new appliances or furniture in the near future.

$ I only recently heard about this one. In some Scandinavian countries, many fines are based upon income. They are not a flat fee for the offense as they are in this country. According to the University of Chicago Law Review, this has been around for hundreds of years. Who knew? I don’t know if this could be coming to this country any time soon, but if it does, and it is well crafted, according to the Law Review, it could most likely survive any constitutional objections. Then, we too could face a €54,000 speeding ticket assessed to a Finnish businessman (that’s over $60,000). If you get word of a movement to have these income based fines become law, be ready to up that budget too. Anything is possible in today’s more progressive world.

$ A final item that you may want to think about uping your budget for is male makeup. According to CNBC a recent study indicated that more than 56% of U.S. male respondents admitted to using some sort of facial cosmetic in 2018. Also, the men’s personal care market is expected to hit $166 billion in 2022, and male-targeted skin-care product sales have jumped 7% in the past year. According to theconversation.com, face wash, moisturizers, pore strips and hair removal products are now commonly featured in many men’s bathroom cabinets, and now, makeup. According to China Daily, male makeup sales in China are expected to increase over 13% this year. Again, all of this will cost more, and you don’t want to put it on a credit card and pay more, so start saving.

ANTICIPATED EXPENSES — WILL THEY EVER END?

John Ninfo is a retired bankruptcy judge and the founder of the National CARE Financial Literacy Program. Find his previous weekly columns at http://www.mpnnow.com/search?text=Ninfo or at http://www.monroecopost.com/search?text=Ninfo.