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Minneapolis Property Tax Lawsuit
Nov. 22nd, 2010 08:47 pmApparently not everyone has heard about this yet:
Hennepin County recently sent out its Proposed Property Tax Bills for 2011. Most Minneapolis residents are staring at the annual percent change figures in shock and awe, but many find their market valuations feasible.
However, in some neighborhoods (I've heard "Northside including Camden," and "parts of South including Phillips" quoted), residents believe that the market valuations given to their homes are significantly and systemically too high. Because the market value is used to calculate the amount of taxes a homeowner pays, an overvaluation of 50% can mean overtaxation of 50%.
Hence the U of MN law school has brought a class-action suit against the city of Minneapolis.
You can read more about it here:
Hennepin County recently sent out its Proposed Property Tax Bills for 2011. Most Minneapolis residents are staring at the annual percent change figures in shock and awe, but many find their market valuations feasible.
However, in some neighborhoods (I've heard "Northside including Camden," and "parts of South including Phillips" quoted), residents believe that the market valuations given to their homes are significantly and systemically too high. Because the market value is used to calculate the amount of taxes a homeowner pays, an overvaluation of 50% can mean overtaxation of 50%.
Hence the U of MN law school has brought a class-action suit against the city of Minneapolis.
You can read more about it here:
http://minnesota.publicradio.org/displa
http://www.startribune.com/local/109090
http://en.wikipedia.org/wiki/Minneapoli
http://www.startribune.com/local/109090
http://en.wikipedia.org/wiki/Minneapoli
ETA: Hey, folks! Remember that renters pay property taxes too - it's just that they pay via their landlords rather than paying the county directly....
