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??
