tag:blogger.com,1999:blog-15329279.post85211035656122974..comments2023-08-25T05:18:29.312-06:00Comments on Madville Times: What Housing Bust? Lake Property Values Rising 15%caheidelbergerhttp://www.blogger.com/profile/03261598066395322681noreply@blogger.comBlogger17125tag:blogger.com,1999:blog-15329279.post-89397825671788500092009-01-08T07:41:00.000-07:002009-01-08T07:41:00.000-07:00Property tax on the view?!? Holy cow—then my valua...Property tax on the <EM>view</EM>?!? Holy cow—then my valuation really would be a million bucks. I wonder if my valuation would go down when some honyocker builds a house in front of me. ;-)caheidelbergerhttps://www.blogger.com/profile/03261598066395322681noreply@blogger.comtag:blogger.com,1999:blog-15329279.post-79314677287553034772009-01-08T02:29:00.000-07:002009-01-08T02:29:00.000-07:00It could be worse. My dad tells me that in Vermont...It could be worse. My dad tells me that in Vermont, that great haven for progressive political ideas, some property tax statements have a line indicating the portion of property tax that applies to the view the owner sees when she looks out the window on a clear day.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-15329279.post-79994688697934499822009-01-07T06:27:00.000-07:002009-01-07T06:27:00.000-07:00New construction homes are more accurate for taxab...New construction homes are more accurate for taxable value than older established homes which have grown in value far ahead of the assessed value. New construction has a building permit and a base value that closer reflects 90% of full and true value. You're right, your home is probably closer to full value than your parents' home or perhaps a neighbor if it was build over 25 years ago at the lake.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-15329279.post-45953848481603338502009-01-07T05:59:00.000-07:002009-01-07T05:59:00.000-07:00But one third of its market value? Hmm....Whatever...But one third of its market value? Hmm....<BR/><BR/>Whatever rate the taxes are increasing, property is still an obsolete basis for assessing tax. Farmers are getting their property tax replaced with an income tax (albeit an unnecessarily Rube Goldbergian one); time for Pierre to treat the rest of us the same!caheidelbergerhttps://www.blogger.com/profile/03261598066395322681noreply@blogger.comtag:blogger.com,1999:blog-15329279.post-88457747938154789202009-01-06T19:03:00.000-07:002009-01-06T19:03:00.000-07:00sorry, I responded like I was the anon 8:47, I was...sorry, I responded like I was the anon 8:47, I was looking at the wrong line, sorry anon 8:47, I am 11:47.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-15329279.post-1389456249960364182009-01-06T18:59:00.000-07:002009-01-06T18:59:00.000-07:00Not sure if you are being seious or sarcastic CH. ...Not sure if you are being seious or sarcastic CH. My comment means that taxes increase at a set rate, independent of assessed values. Taxes will shift to properties increasing in value faster than others, but if, like the article implied, everyones assessment increases by 15 percent, there will be no shifting and your taxes will increase just like there was no increase in assessed vaue.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-15329279.post-73100495308372901652009-01-06T07:23:00.000-07:002009-01-06T07:23:00.000-07:00Anon 8:27: are you telling me that the house Bev a...Anon 8:27: are you telling me that the house Bev and Larry built for us for $100K and the acre it sits on a hundred meters from shore are really worth $400K? Uff da!caheidelbergerhttps://www.blogger.com/profile/03261598066395322681noreply@blogger.comtag:blogger.com,1999:blog-15329279.post-46704573508403620872009-01-05T23:03:00.000-07:002009-01-05T23:03:00.000-07:00FYI;between 1999 and 2004, school taxes for the ge...FYI;<BR/>between 1999 and 2004, school taxes for the general fund of the madison central school district DECREASED (not a typo, that says decreased) by 7 percent or 181 thousand dollars. Chester school district taxes increased by only 5 percent in those five years or 31 thousand dollars.<BR/><BR/>If I were you I'd give the director of equalization a bonus.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-15329279.post-24795768623513767472009-01-05T22:47:00.000-07:002009-01-05T22:47:00.000-07:00To much focus in SD on property values. Taxes go u...To much focus in SD on property values. Taxes go up the lessor of 3percent or inflation. The capital outlay fund and pension fund will be the exception to that. If property values double, or fall by 50 percent the cities and counties and school general fund will all get same amount of increase in revenue. The 15 percent increae will boost the capital outlay fund by 45 dollars per 100 thousand in values.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-15329279.post-41962204355211186842009-01-05T19:27:00.000-07:002009-01-05T19:27:00.000-07:00Lake property and ag land has been valued at about...Lake property and ag land has been valued at about one-third of its market value for several years because of the old 150% rule which hurts counties setting valuations. If a property sells for over 150% of its taxable value, it can't be used. Property valuation is supposed to be approximately 90% of market value, and that certainly hasn't kept pace at the lakes or ag land. Shirley could move them up 15% for the next ten years and not come close.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-15329279.post-31114610384929786322009-01-05T15:49:00.000-07:002009-01-05T15:49:00.000-07:00We would want to annex Lake Herman because it does...We would want to annex Lake Herman because it does not have a sewer system...at least not yet.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-15329279.post-14894129087093186832009-01-05T14:01:00.000-07:002009-01-05T14:01:00.000-07:00Radical indeed! Just don't try annexing Lake Herma...Radical indeed! Just don't try annexing Lake Herman... ;-)caheidelbergerhttps://www.blogger.com/profile/03261598066395322681noreply@blogger.comtag:blogger.com,1999:blog-15329279.post-36436786378284811882009-01-05T12:30:00.000-07:002009-01-05T12:30:00.000-07:00I'm in favor of a radical concept: the city of Mad...I'm in favor of a radical concept: the city of Madison should annex Lake Madison. The poor farm could become a city park area.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-15329279.post-17487503297214554492009-01-05T12:20:00.000-07:002009-01-05T12:20:00.000-07:00I question how reasonable increased property value...I question how reasonable increased property value assessments are now. Particularly, with all of the business closings in Madison, I would tend to think that the value of property in Madison proper and the surrounding area should either stagnate or decline.<BR/><BR/>I agree with CAH that wages at the lake certainly aren't keeping pace with the insane assessments that are being applied now. Most wages are declining/people are taking less home. Shouldn't assessments drop off accordingly?Tony Amerthttps://www.blogger.com/profile/00926509220711589398noreply@blogger.comtag:blogger.com,1999:blog-15329279.post-55312694805795543232009-01-05T08:41:00.000-07:002009-01-05T08:41:00.000-07:00Madison and Chester school districts should be jum...Madison and Chester school districts should be jumping for joy then. Their capital outlay funds will be growing even more. Should be plenty of money to keep spenders happy!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-15329279.post-55247648881691127582009-01-05T08:17:00.000-07:002009-01-05T08:17:00.000-07:00Indeed: Shirley Ebsen and Rick Becker's guess as t...Indeed: Shirley Ebsen and Rick Becker's guess as to the market value of my property has little relationship to it's true value in my heart. The county's assessed valuation also has little relationship with either the demand you and I place on county services or our ability to pay for them.caheidelbergerhttps://www.blogger.com/profile/03261598066395322681noreply@blogger.comtag:blogger.com,1999:blog-15329279.post-20697330680256932202009-01-05T07:10:00.000-07:002009-01-05T07:10:00.000-07:00Accessed valuation has little to do with the real ...Accessed valuation has little to do with the real and true value of the property. Most lake properties have been undervalued for years because it is so hard to keep up with the quickly raising prices. The same goes for farmland.Anonymousnoreply@blogger.com