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Nw Iowa | But I will give you a example of just how far a state can run with it. Minnesota has generally had 1 house have a majority of the opposite party. Works pretty good even in a blue state like Minnesota. Last election because of a goofy race in western Minnesota Dems control all three branches. So stupidity has no stops. Minnesota has went on a all out campaign to revalue all real estate in Mn. This is being driven by the state. Most land and house values ( out state) are at or above their value. They are using a comparable system that any actual appraiser would get fired. Of course argument is we are not going to increase taxes, just the valuations.
So our small school district needs a new school. It has a pretty large land area but very little population. The school is projected to cost around 70 million dollars. I don’t know exactly what enrollment is but I know class size is around 40 plus or minus kids. Now wether school should be built or not has created quite a division in the district but reason that it makes sense for some is that state is offering over the course of the life of the bonds to pay around 2 /3rds of it. So it does not take a rocket scientist to see what the plan is. Raise valuations first to absolute max, than start raising the mill rate until any real estate in the state is taxed much higher today for the social programs and buildings that the state wants to build. Mn had a surplus and all though some will argue, their surplus will turn into a deficit in the future based on present spending programs enacted in last year. So it would seem that the longer term plan is to try and tax real estate to a higher level to cover increased spending as fees, income taxes are already quite high in the state. So my whole point is that it does not have to be federal to get out of hand. | |
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land values if/when America economy defaults/crisis
