A friend of the blog emails:
Essentially this article blames the pandemic as the reason for higher Minneapolis property taxes next year. The reason is because commercial real estate in the city has been jumping so much over the last 10 years before 2020, home owners have not seen as much increase in property taxes. It’s all relative. The city spend money like a drunken sailor and has been able to pass that on to the growing apartment buildings, restaurants, other commercial ventures that have popped up in the last 10 years. That growth has halted and I predict commercial properties and values will decrease which will shift the burden to homeowners. Get ready homeowners.
2020 has changed all that. Part of the change is the pandemic as businesses realize they can keep workers working at home and reduce the amount of office space needed. But it is also true that businesses will not move into a city that has no police force and allows blocks of businesses to be looted and burned. Target is downsizing. There wasn’t even a thought of the Canadian Pacific merger of having the headquarters in downtown Mpls where it is now. Who thinks Minneapolis will see a Final Four or a Superbowl in the next 10 years? The airheads running the city have created a bigger mess than just the pandemic. I am glad to see my favorite establishment, Brit’s Pub, has re-opened but I am not tempted to go there even in daylight due to the dangerous downtown.
Right now I am watching the discussion on the local Nextdoor. People are noticing a big jump in their assessed home values yet their property taxes are stable and some even falling a bit. The respite in tax increase this year is a big head fake. The 2022 property taxes will increase mightily as these higher home values will shift a big piece of the real estate base from business to homeowners. Maybe not if the city’s spending can be cut. Unfortunately those cuts will likely come from the police force which is already being decimated by resignations and retirements. The city can just recognize reality that they cannot retain and recruit enough badges. My heart is sad for my beloved Minneapolis. The local voters have been mislead by the local media and the chickens have come home to roost. They will appeal to the state of MN for help. God give backbones to the state legislature to say “NO.” Just say “no” as Mpls voters caused this problem, they need to fix it.
Let this be a cautionary tale for other cities. You don’t want this.
The same story can be said for all of Hennepin County. This will affect them as well.
First: when the MInnPost is too far to the middle for a Democrat machine…
Second: This is what a death spiral looks like.
See also: Detroit, Baltimore, Cleveland, Newark…
…well, you get the idea.