[Mpls] How taxes work. Why taxes are going up.

[Bill Cullen]

Carol Becker=92s website says:

(A)lthough property values have been going up, the tax base really =
hasn't
because commercial and rental property are paying less.

My response:

Hogwash.  I own multiple rental properties and not one has seen a =
decline in
property taxes.  NOT ONE!  Increased valuations have offset any change =
in
the mill rate.

What you dance around is the fact that apartment buildings used to pay =
THREE
TIMEs as much taxes as homeowners (per thousand in value).  The =
adjustment
our state legislators made was to move apartment buildings down close to
homeowners -- but apartments still pay more.  How come you don't say =
that?

Carol Becker website continues:

(T)he City is taxing us more. Tax collections=20
from 2001 to the Mayor's recommended 2006 have gone=20
up 43% in real dollars over the last six years.

My response:

So what you are really saying... Is that City expenditures are going up
faster than the rate of inflation (you said inflation was 18% during =
those
years).

Carol's website hints that homeowners should be complaining about the =
rental
property tax equalization.  If you take Carol's advice, Please respond =
to
the following questions:

1) Rental property is the most affordable housing in Mpls.  Do you think =
it
is wise to increase the cost of such housing?

2) Apartment dwellers still pay a higher percentage of taxes on the =
property
evaluation.  If their current higher tax rate is not enough, how much =
higher
taxes do you think they should pay?

Regards, Bill Cullen
Whittier landlord.

--=20
No virus found in this outgoing message.
Checked by AVG Anti-Virus.
Version: 7.0.344 / Virus Database: 267.10.18/89 - Release Date: 9/2/2005
=20