Thanks to Jan Feye-Stukas for the break down. Does anyone know if the
figures provided can be extrapolated in the following manner? 12 % of all
taxable property value in the city is rental?
As for Mr. Marks assertion. That non-homestead property is not putting much
in to the kitty. Note the following facts.
1. If a $200,000 4 - plex non-homestead sits across the street from my
house (valued @ $200, 00 ) we can observe that the 4 plex will pay about
$6,000 in property taxes. The homesteaded house will pay about $2,200 in
prop taxes.
2. The home owner benefits from a subsidized garbage pick up service. The
owner of the 4-plex and the tenants who live there will not be allowed to
use the city hauling system. They will have to haul the garbage through a
private contractor who does not provide as good a service and charges more.
Years ago Councilmember Schulstad provided me with info that solid
waste does not quite run on it's own revenues. I think Susan Young can
provide us with the best numbers. I would like to point out that as a former
resident of Mpls. and one who pays garbage bills in 13 different cities.
The Minneapolis citizen gets the best deal I have found.
3. There are other little items that end up causing "death by a thousand
cuts" to the city's landlords and their residents.
Safe to say this much. The rental property dwellers in the city and
the state have been paying an undue burden for too long. It now manifests
itself in the shortage of all rental housing.
Craig Miller
Former Fultonite
Rogers MN
[EMAIL PROTECTED]
>Jan Feye-Stukas gave us the break out on percentage of taxes from each
segment
>and now I'm honked. Non-homestaded rental property isn't putting much into
the
>kitty and if you have a 12-unit building, 12 units of residents could be
using
>the library. Hello?
>Wizard Marks, Central
>
>Feye-Stukas, Jan wrote:
>
>> > This is to add to what was posted by Colin Hamilton in reply to Tim
>> > Bonham's post ("the tax bite from referendums like this is entirely on
the
>> > residents; business property is completely exempt from these additional
>> > taxes.") This is not true. Commercial property owners will, in fact,
pay
>> > increased property taxes if the referendum passes. The tax levy is
based
>> > on market value. For every $100,000 of market value (either commercial
or
>> > residential property), owners will pay $56.71 annually in years 5-25
for
>> > the Library Referendum.
>> >
>> > Commercial property owners pay more than half of the property taxes
>> > collected in the City of Minneapolis. Based on 2000 Property Tax
dollars,
>> > the proportion is as follows:
>> > Commercial & other property = 54.5%
>> > Single family, homesteaded = 27.3%
>> > Apartments (non-homesteaded) = 12%
>> > Multi-unit, homesteaded (e.g. duplex or fourplex, owner occupied) =
2.2%
>> > Multi-unit, non-homesteaded = 2.2%
>> > Single family, non-homesteaded = 1.8%
>> >
>
