[Mpls] property taxes

[James E. Jacobsen]

I used to own 2217 Nicollet Ave, catagorized as office mansion.  Built in 1920s it is well designed and attractive building and I had it maintained well, though in late 1980s, the crack/street crime problem got bad, which brought purse thieves into the building and then an exit of my lease and rental deals until my gross income from the building was about equal to the monthly taxes, and that being a time of real estate depression, I couldn't get new rentals.            I talked to the city tax appraiser about it, invited him for tour of the building and was surprised to learn that it was like a football game, the appraisers were out to keep the tax revenues up whatever the situation with the building.             After explaining the depressed situation and citing fact that gross rents were only as much as the taxes and hearing the tax appraiser's attitude I asked him, 'Isn't that a confiscatory tax policy?' and he said, "Oh yah, there are lots of buildings that way".             I talked to Kris Nelson, then head of Whittier Alliance and his words of wisdom were that 'there has to be a shakeout'.  Of course the city was contributing extra money to Whittier Alliance for director of crime issues (Gloria somebody) and to really illiminate crime in Whittier, which was making my building untenable.            I did go for the tax appeal hearing and got the valuation knocked down by $75,000 which was some help.  There was a continuous parade of people in at the Government Center appealing their tax rates at that time.              James Jacobsen  // Whittier