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
(CM)
Until the late 1970's ( I can't tell you if it has changed since then)
the Japanese used just that system. The property owner would value the
house and pay the scheduled tax. The local government reserves the right to
buy the property at the price stated. Thus most folks kept their value up a
little higher then market. Revenues keep coming in. Amazingly efficient.
Wouldn't work here. Too many people at city-county-state making a living at
explaining to us great unwashed, things like
1. Accessed market value
2. Limited value
3. Tax value
4. Tax capacity
5. Market value
6. Mill Rate
7. LGA
8. Homestead Credit
9. This old House credit
10. Circuit Breaker
11. Certificate of Rent Credit
12. Need I go on.
It used to be you needed an attorney to understand tough parts of the law.
Even I use an attorney to appeal my taxes. The city won't take you serious
until you do. Same thing with other govt levels when it comes to rightaway
and em-domain. Won't listen to you or hear your argument until a lawyer is
presenting. By then the amount you settle for goes up.
Craig Miller
Buffalo MiniStorage
763-682-4320
[EMAIL PROTECTED]
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.)
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