Tag

mill rate

Proposed 2015 Property Taxes = Trial Balloon? (“This Is Not a Bill”)

Mixed Blessing If you’re selling your home, it’s unqualified good news (at least to the extent that prospective Buyers consult it). If you’re staying put — and now have to fork over more money every year — maybe not so much. The news I’m referring to? Hennepin County’s just-released proposed 2015 property taxes. Up 10%?...
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2012 Proposed Property Tax

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,...
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Never Mind the Mortgage — Can The Buyer Afford the Property Taxes??

Minneapolis Property Tax Disconnect Pop quiz:  the annual property taxes on this Kenwood short sale — listed at $349,900 — are . . . A.  $3,142 B.  $4,475 C.  $6,020 D.  $13,983 Answer:  “D.” Assuming that the eventual Buyer has good credit, is putting down 20%, AND the short sale is approved at the list...
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Minneapolis’ Property Tax Millstone

Recognize This House? Where:  somewhere in Minneapolis. What:  a classic, older home with 4 BR/3 BA and over 3,000 square feet.  Features gorgeous mill work, built-in’s galore, hardwood floors, beamed ceilings — and on and on. How much:  list price now $989k, down from $1.395 two-plus(!) years ago. Property taxes:  a gazillion dollars per year....
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Mill(stone) Rate

2011 Hennepin County Property Taxes Every time I think I’m a Democrat, they do something stupid. Every time I think I’m a Republican, they do something greedy. –Jay Leno What do you call proposing to steeply raise property taxes against a backdrop of weak home prices and an economy just emerging, maybe, from recession? How...
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Property Tax Appeals

‘Shrunk to Fit’: Tax Values in a Declining Market Homeowners across the country are challenging their property tax bills in droves as the value of their homes drop, threatening local governments with another big drain on their budgets –Jack Healy, “Tax Bill Appeals Take Rising Toll on Governments“; The New York Times (7/4/09). Which would...
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