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Many a mortgagee, in the decade Post Date: Mon, 4 Aug 2008 5:01:28 +0000 It may be added, too, that many of the more undesirable and non-productive city prop- erties, say in St. Paul, Minneapolis and Duluth, can still be bought at a price not exceeding, or even less than, their assessed values.Many a mortgagee, in the decade ending in 1897, nas winced under the burden of taxation on lands acquired at foreclosure The St Paul Pioneer Press, in its issue of February 5, 1902, made editorial comment on what it calls "the gross inequalities in the assessed valuations of real estate in the several counties as the result of the efforts of local assessors and boards aided by the representatives of the different local . Autor of the post: Undefined This is says the Pioneer Post Date: Mon, 4 Aug 2008 4:44:15 +0000 districts in the state board of equalization, to reduce their several quotas of state taxation to the lowest figures possible. "The consequence," sale lands mortgaged to him in the less developed portions of the state for two dollars or less per acre, up to three, four or five dollars per acre, and on which in many cases he made a loss, sometimes of a portion of his principal, oftener of a portion only of the interest due and of taxes necessarily paid by him. This is says the Pioneer Press further, "is that in all the rural counties of this state, and in fact in all the counties of the state outside of Hennepin, Ram- sey and St. Autor of the post: Undefined Paul and Duluth Post Date: Mon, 4 Aug 2008 4:26:03 +0000 Louis, containing the three leading cities, the assessed valua- tions of real estate are notoriously much less than one-third, and in many instances less than one-quarter, of the selling value of the property. It is equally nototrious that in the cities of Minneapolis, St. Paul and Duluth, where the assessed valuations were based on the extravagantly inflated prices of the boom times of 1887, the assessed valuations of real estate are in general far in excess of what the property would sell for. Autor of the post: Undefined Paul at least, if Post Date: Mon, 4 Aug 2008 4:15:08 +0000 There have been some reductions in the real estate valuations of St. Paul and Min- neapolis on this account, but in St. Paul at least, if the real estate were reassessed at its actual selling value it would result in a large reduction of the present assessed valuations. Autor of the post: Undefined This is more or less Post Date: Mon, 4 Aug 2008 4:04:11 +0000 There are tens ot thousands of city lots in St. Paul whose owners would be glad to sell them for one-half or one- third their assessed valuation. This is more or less the case with Min- neapolis and Duluth. Autor of the post: Undefined Thus, in April, 1902 Post Date: Mon, 4 Aug 2008 3:45:44 +0000 " Undoubtedly some properties are over-assessed in the cities named ; and the wholesale statement of the Pioneer Press, while somewhat over- drawn as regards present conditions, is very nearly the literal truth if applied to conditions prevailing in 1893-1897 and even somewhat earlier. Facts in partial support of the statement at present may, however, be readily given. Thus, in April, 1902, an , auction sale 'of the undisposed portion of the "Dawson estate" was held in St. Autor of the post: Undefined Here are the figures : Post Date: Mon, 4 Aug 2008 3:34:09 +0000 The- properties consisted of city lots, mostly unimproved or nearly so, and of acres all lying in St. Paul and Ramsey county. Here are the figures : The sale had been well advertised and attracted much local attention. Autor of the post: Undefined I inquired a few days Post Date: Mon, 4 Aug 2008 3:15:02 +0000 Taxes are levied in a wholesale way, and if the true wholesale value of lands cannot be determined by a fair and well advertised auction sale, piece by piece of the lots and acres making up such aggregate, then there is no way of determining the true wholesale market value of lands. Yet, here is a fair sale at prices somewhat less than half the assessed valuations. I inquired a few days after said sale was made, of a conservative holder of considerable St. Autor of the post: Undefined I have half a dozen Post Date: Mon, 4 Aug 2008 2:56:38 +0000 Paul realty, if he had any lots or pieces that he would sell for less than the assessed values. He answered : "I have some lots in St Paul that I would sell now, and would have sold any time these last five or six years, for the assessed values. I have half a dozen pieces I would sell for less than the assessed values, say for 90 per cent of their average assessed value. Autor of the post: Undefined I have one improved piece Post Date: Mon, 4 Aug 2008 2:42:07 +0000 This is approximately true of every St. Paul real estate owner who has considerable holdings. I have one improved piece that I would sell for 90 per cent of its assessed value. 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| 3014 | 3015 | 3016 | 3017 | 3018 | 3019 | 3020 | 3021 |