Dec 04

Over on the ApartmentAssoc@groups.io email discussion list Mike writes:

Fortunately the facts are not as laid out in the post.  The article makes this clear.   “Property taxes” would not go up 64-128% under the proposals being considered.  The MPS portion of the property tax bill would go up by those percentages, not the whole bill.  The increases are still substantial – I estimate 25-50% of the whole bill.  If we landlords want to be involved in the political process we must arm ourselves with facts to avoid embarrasing ourselves and damaging our cause. 

Mike is correct, the percent of increase is the school portion. The original Journal article, which I based my comments on, stated:

“For a home assessed at $300,000, that would push property tax bills from $2,874 to $4,716 on the low end and $6,723 on the high end — increases of 64% and 134% respectively.”

Milwaukee Journal article as it appeared on 11/19/19

The Journal article has since been rewritten to “school property tax”

This represents an annual tax increase of $921 to $1925 on an average Milwaukee home.

I stand by my original comments of the dire consequences this will cause to our market.

Leave a Reply

preload preload preload