I, too, had the same question that David asked. I, also, would like
someone to explain how assessed value that is taxed compares to present
market value and how the assessed values compared to current market
value differ for types of property. When I was shopping for rental
properties 10 years ago in St. Paul I found lots of $500,000 4-plexes on
the books as $30,000 properties, which made very nice retirement
accounts for the current property owners. Is that true here
Minneapolis, too?
Dan McGuire
Ericsson
2. The point about the average Minneapolis homeowner paying 1.6 times more
in property taxes is intriguing. I'm wondering A) how that's derived, and
the bigger B) If true, how much of the higher payment is because the average
Minneapolis home is worth more than in St. Paul (if, indeed, the value is
higher)?
David Brauer
Kingfield
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