You Call That Easing Up?

The “good” news? (good if you’re not selling your home, that is).

According to Hennepin County, the value of my home dropped just over 7% the last year.

The bad news?

That 7% drop in assessed value translates into a measly .7% decrease in my already-hefty Minneapolis property taxes.  See, “Minneapolis Property Tax Disconnect.”

Yup, Hennepin County acknowledges that my home’s value has dropped $46k, and its response is to reduce my annual property taxes . . . $79.

What universe do these guys live in?!?

When more people decide to leave the city — or won’t consider moving to it — because of onerous property taxes, what is the city going to do then?

Raise taxes even more on the homeowners who are left??

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

Leave a Reply