David wrote: Another reason apartment values ticked up is — ta da! — the Guv and the legislature. They have "stepped down" apartment property-tax rates from the mid-2 percent range to 1.25 percent over the past three years. Halved property taxes means a bigger cash flow for property owners and thus a more valuable property.
Sorry David........you must not be paying apartment property taxes! I have not seen a halved property tax in my life! Bigger cash flow...my cash flow is the lowest in history of ownership! It takes one apartment just about a full year to pay taxes on a four-plex. It takes another apartment to pay for the insurance, water, maintenence, etc. That leaves two units to pay for mortgage, interest and that wonderful profit. I've said this all before...! My rents are a tad low because I have a great group of renters that I highly respect and they take good care of the building...could go Section 8 and make $150 more per unit but no thanks...been there... done that... $4700 in damages at the end of the year in one unit and over $1,000 in another. I did not see the government come in and make good the damages and gee...my profit plus a couple of pay checks were eaten up in cleaning, redoing floors because they took and ground metal into the beautiful wood flooring, purchasing a new stove because of cat food being stored in the oven and clogged up gas lines of a stove that had just been purchased, new refrigerator...rotten food that premeated the entire unit, and getting the water line cleaned out from towels being dropped down the stool..two sets of screens, window treatments, fire alarms that they broke along with 3 fire extinquishers that were stolen! Let's talk about profit! Ideas ,plans, laws, etc. can be well intended and look great on paper...reality is a whole different story. Dorie Rae Gallagher Nokomis *Motivation is when your dreams put on work clothes*...Benjamin Franklin 2. Don't feed the troll! Ignore obvious flame-bait. For state and national discussions see: http://e-democracy.org/discuss.html For external forums, see: http://e-democracy.org/mninteract ________________________________ Minneapolis Issues Forum - A Civil City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[email protected] Subscribe, Un-subscribe, etc. at: http://e-democracy.org/mpls REMINDERS: 1. Be civil! Please read the NEW RULES at http://www.e-democracy.org/rules. If you think a member is in violation, contact the list manager at [EMAIL PROTECTED] before continuing it on the list. 2. Don't feed the troll! Ignore obvious flame-bait. For state and national discussions see: http://e-democracy.org/discuss.html For external forums, see: http://e-democracy.org/mninteract ________________________________ Minneapolis Issues Forum - A Civil City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[email protected] Subscribe, Un-subscribe, etc. at: http://e-democracy.org/mpls
