-----Original Message-----
From: Craig Miller [SMTP:[EMAIL PROTECTED]]
Sent: Friday, November 30, 2001 5:14 AM
To: Minneapolis Issues
Subject: [Mpls] Property Taxes on Rental Housing.
The city of Brooklyn Center just upped my assessed value by 29% on a 2 1/2
story walk up that rents for
$615-700
Translation 16% increase in property tax not including the recently approved
school levy.
I know it's not Mpls. But the same thing is happening to a lesser degree in
the city.
Craig A. Miller
Former Fultonite
[EMAIL PROTECTED]
Mr. Miller is correct. I too received a 15.6 % proposed property
tax increase at 2747 Stevens Ave. So. in Mpls.
I was lead to expect an decrease.
Possible Reason # 1: The Inspections Dept. must have been told
to write orders to request that parking lots behind rental properties be redone.
This in turn makes the property more valuable so they can increase the value
and thus collect more taxes.
Reason # 2: I am guilty of planting a lot of flowers and keeping the grounds and
landscaping looking nice.
Reason # 3: They must tax us affordable housing providers,
in order to fund the Subsidized housing providers.
The subsidized housing providers need larger grants to build apartment buildings
that cost $120,000 to $250,000 per unit.
Where the private market is welcome, they have built apartments for 1/2 the cost.
EXAMPLE: "Toscana Apts" has just been built in Southwest Orlando for only
$59,000 per unit. These upscale apartments range in size from 725 to 1475
square feet.
WHY does it cost twice as much to build in Mpls. compared to Orlando?
Excessive regulation, fees, taxes, etc?
Mel Gregerson
AHP So. Mpls.
I
[tw]
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_______________________________________
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