Thursday, August 15, 2024
Political Mayhem Thursday: Minneapolis Problems
Yesterday, Minneapolis's Mayor announced residential property tax increases of over 8% next year and another hike of nearly 10% the year after that. The problem is that commercial real estate, devastated by work at home moves after the pandemic, is no longer paying anything close to what it used to in taxes while costs have risen dramatically for the city and federal COVID money has run out. Already, people in Minneapolis pay high taxes-- I live about five blocks outside the city limits, and my taxes are roughly half what they would be if I lived there.
Cities went through a rough time in the 1970's, as populations moved to the suburbs. In Detroit, it was a profound and heart-wrenching change as whole neighborhoods were largely abandoned.
It would be a tragedy if that were repeated... but I'm not seeing a winning recipe for success around here.
Comments:
<< Home
Not to mention a depleted police force that’s doing the best it can but is struggling to keep up given the staffing shortage. Plus a dysfunctional city council.
We thought very hard about living in the city, but the property taxes were a killer. We couldn’t justify paying an extra $500-$600 a month in property taxes just to say we lived in the city…especially with a city government that often seems more interested in messaging than governing.
Post a Comment
We thought very hard about living in the city, but the property taxes were a killer. We couldn’t justify paying an extra $500-$600 a month in property taxes just to say we lived in the city…especially with a city government that often seems more interested in messaging than governing.
# posted by 
: 8:47 AM
: 8:47 AM << Home
