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After the developers obtain sweet financing from the City (by promising
increased tax revenues), they run over to the Legislature and beg for property
tax relief.
Keep in mind that the developers don't pay ANY property taxes - the parkers
and/or tenants do. If the developer can't collect enough "rent" from
the public, they can't service the debt. This has happened time and time
again (i.e. City Center.)
I don't do any lobbying. I simply observe the lunacy and try to
explain it to people.
My property taxes in Minneapolis haven't been reduced at all, because
the City Assessor has DOUBLED my assessed market value over the past 5
years.
Assessed market values of real estate are arbitrary. Actual
market values are a function of the general economy - it's worth what someone
else will pay for it.
Vicky Heller
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- Re: [Mpls] You're absolutely right about property taxes...... Victoria Heller
