Letter: Costly property tax increases in Rochester need to slow down
In 2007, my house's assessed value was $195,000 and taxes were $1,364. For 2015, my house's assessed value is $153,000 and taxes are $2,100. It's basically a rate Increase from 0.7 percent to 1.4 percent in an eight-year period. During the same period, Rochester's property tax levy has seen an average increase of 4.75 percent per year.
If the trend continues for the next seven years and my home's assessed value returns to $195,000, my property taxes will be $4,100 at a rate of 2.1 percent. Taxes will have tripled without a gain on the assessed value of my home after 15 years. So what will the next 20 years be?
Ultimately, percentages mean nothing if they are not applied to a home's value to see the total effect. If you apply this to growth to income at the same rate, it does not look good for the poor and middle class. We are getting ourselves in trouble, which is why the older people are saying slow down.
This is why I may consider running for the Rochester City Council or mayor. People who care about me ask why I would want the problems, which is a good question. Maybe it's because I care about my hometown and all the people in it.
Brent W. Coggins