Every Spring in Minneapolis, Nextdoor.com blows up when the annual property assessments went out. Many neighbors ask questions and give tips on how to convince the City of Minneapolis and Hennepin County that the real estate they own is actually less valuable than the assessor thinks. I should probably point out that there are some […]
I wrote an earlier post that explains what TIF is and how it works. Click through and read it here. In any community, we put things we want in plans. We want good jobs for the people who live here. We want homes people can afford to rent and buy. We want polluted land cleaned […]
Earlier this month, both Minneapolis and Saint Paul released their property tax levy numbers, and for both cash-strapped core cities, they went up quite a bit. Despite the recent development booms in both downtowns, the fiscal facts on the ground remain stubborn. Saint Paul and Minneapolis have a lot of needs, and funding them is […]
In Part I I covered the basics of what property taxes are. This time I’ll dive into how exactly property taxes are calculated, starting with (for Minneapolis) the half billion dollar question. What is tax capacity? In its simplest form, the tax capacity of a property is its taxable market value (explained below) multiplied by its class […]
It’s budget season in Minneapolis, and the rest of the state. This is a complex process, but the question on everybody’s minds is “how will my property taxes be impacted?” A simple question with a rather complicated answer. Hopefully I can shed a little light on it. In this first part of a planned three-part […]
We’re back after the holiday lull with some big comment generators, some Charts of the Day, and more good stuff. If you’re still thinking about New Year’s Resolutions, you might commit to writing for us (one time, intermittently, regularly), or becoming a member, or just finding out more in the deeper discussions on our Forum. […]