Taxes – good news, bad news

Homeowners are getting some short term good news. Taxes down. Unfortunately taxes are down because home values are home. According to the Minneapolis Star Tribune, home values around the metro area are down 6 percent. That’s a lot of short term savings for the homeowner.

The short term benefit is the reduction in taxes – but unfortunately that also means a reduction in taxes for services for cities and counties. That comes to $2.7 billion less in taxes in Ramsey County alone. That will mean tough decisions in the near future as indicated by the quote below…

“We cut the flower pots last year,” said Mayor Pete Ewals of Jordan. “Now
it gets down to the nitty-gritty. Our biggest expense is people, but we hate to
lay anyone off when the last time we tried to hire a finance person, 100 people
applied. It’s tough out there. But where else to cut? Maybe we need to wait to
plow snow till daytime business hours, so we aren’t paying so much
overtime.”

This entry was posted in Home Owner Tips, Twin Cities Area. Bookmark the permalink.

One Response to Taxes – good news, bad news

  1. This is great info. I still cant believe its down almost 6 percent!! =/

Comments are closed.