on 7/16/03 4:36 PM, Chris Johnson at [EMAIL PROTECTED] wrote: > But what makes this perplexing, in times of rising real estate values > are these two things: > 1) Both years as the Taxable Market Value went up 12+%, the Estimated > Market Value (what the assessor really thinks the property is worth on > the market) has gone down by about 1% per year. > 2) This is even after excluding a percentage of the improvements made > to the property under the This Old House law. > > How can one number go up while the other goes down? It makes no sense.
It does make sense. Your house's actual appreciation (at least according to the assessor, estimated market value) is flat. However, over the years - decades, actually � state law has limited how fast the amount you pay taxes on (taxable market value) can go up. Recently, the legislature lifted those limits. So your Taxable Market Value is catching up to your Estimated Market Value, regardless of whether Estimated Market Value goes up, down or sideways. Within a few years, both figures will be the same. Bottom line: blame the state. Whether you blame them for creating a lower taxable value years ago, or getting rid of it now, is up to you. David Brauer Kingfield Also getting nailed by this 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
