Hi Everyone,

Welcome to my blog!

Today I want to talk about a problem that I have been running into more and more lately: What happens when the county assesed value for a property is dramatically higher than the recent purchase price of a property?

Here is the website from the State of Minnesota: http://www.mntax.org/cpfr/documents/uypt06.pdf

Take special note of page 42 which shows the steps necessary to try and appeal the county's assessed value of the property.

I think the steps seem a little too tough and the timeframe seems WAY too long. I had a client that would have bought a home if the property taxes were in line, but because of the county giving a value of almost double what the home still has not sold for, it made the home unaffordable for my client. This is a bank owned home, still sitting vacant and bringing down the value of the neighborhood by not being upkept. There are comparable sized homes that are not foreclosures for sale for comparable prices in the neighborhood as well, so it's not even a case of this being a beat up home selling for half price because of condition.

I hope someone can figure out a way to streamline the process and make things easier for everyone.

Thanks,

Brian Amiot

www.BrianAmiot.com