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- Started June 2006 -

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A pseudo-blog of information about some events of interest around the Mintercreek area. This is an experiment for sure. [back to top]

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Mintercreek - 2007 Property Tax Re-Evaluations

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June 3, 2006
Toll Collection

June 24, 2006
07 Property Tax

July 25, 2006
Guard Rails

June 24, 2006 - 2007 Property Tax Re-Evaluations have been sent out.

WOW! What happened this year that makes my property values jump so much? The county is telling me that my land value increased "This Year" by nearly double. Well, OK, so it was 88% more this year than last, not quite 100%. Now last year it increased by 17%. What happened this year that caused such an increase? Maybe they decided to increase the Tax Valuation based on increased Real Estate Marketing Values. Or, maybe the county coffers were low and they decided to fill them up. Or, maybe they decided to tie the taxes on land to the price of Gas at the Pump. Or, maybe inflation was so great that they had to compensate for inflation.

Last thought first, did inflation increase this year so much that the dollar's buying power decreased by 50% in 12 months? Well if that was the case the FOREX Market should reflect that in the FOREX Spot Market prices. Let's compare the price on the following currency pairs from January 1, 2006 to June 1, 2006 on the FOREX Spot market.
EUR/USD = 1.1835 Now 1.2586 = 10.4% decrease in value for the USD against the Euro
GBP/USD = 1.7202 Now 1.8265 = 6.2% decrease in value for the USD against the British Pound
USD/CHF = 1.3136 Now 1.2284 = 6.5% decrease in value for the USD against the Swiss Franc
USD/JPY = 117.93 Now 113.34 = 3.9% decrease in value for the USD against the Japanese Yen
Given this information, I would assume that we could expect, at most, a 21% increase based on currency value, since this change was for about a half year, assuming the worst case currency pair, the EURO/USD. Guess that data does not support the projected tax increase. Let's see, the price of fuel and tax on land comparison just doesn't seem to hold much defensible value. So, yes, my property sales value increased some amount on the real estate market, but, not 88% increased value. More like 15% based on my latest offer to buy my land. So, I am left with the remaining possibility mentioned above. Maybe they discovered the coffers were low on $$ and decided to refil the county coffers from those fine people who experience land ownership. If that is what is happening, that just does not seem right. I guess I will just have to challenge the new value by July this year, and see what the folks will have to say about that after looking at my reasoning. I wish you the best on your tax challenges if you have any... ...
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