Jason C Stone writes:
> I saw an interesting proposition for how to deal with spiraling > property taxes. It was in a Mensa > magazine - not my subscription obviously. > > Anyway, the suggestion was to treat property tax assessments as an > offer to buy, based on the > assessed market value. The city would have a considerable incentive > to make conservative > assessments that are well within the boundaries of current market > conditions. I'm a RealtorR and frankly I _rarely_ see many market values that are are too high. The opposite is true, however: market values tend to be lower than the marketplace values of the homes. BTW, I'm talking about the estimated market value rather than the lower limited market value (the latter is tempered to not permit market values to increase too sharply in any one year). IIRC, it's the Limited Market Value that is used to calculate the actual tax amount on the home. Maybe this idea would work in the opposite direction. That is, anyone who appeals their estimated market value to their local board of equalization would agree to sell their home at the EMV value (grin). Rick Mons Shoreview TEMPORARY REMINDER: 1. Don't feed the troll! Ignore obvious flame-bait. 2. If you don't like what's being discussed here, don't complain - change the subject (Mpls-specific, of course.) ________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Unsubscribe, Digest, and more: http://e-democracy.org/mpls
