If money is not an issue where would you live and why? (Minneapolis: property taxes, living in)

[efex101]

Another friend has mentioned Shoreview which seems to be close to North Oaks...thanks for all the help guys

[DirtMagurt]

Property tax is obviously hugely dependent on the value of the land, the cost of the house sitting there has much less to do with it. 20k in property tax simply reflects a large lot size inside Hennepin County, and in a very, very desirable area (Edina). It stands to reason that a one third acre lot in Edina is going to have much higher property taxes than a five acre lot in North Oaks, regardless of the size or value of the building stands on either piece of land.

If you build one house in Edina, and the same exact house in North Oaks, the actual physical structure is going to cost precisely the same amount of money. The land value is what gets you. That's true of anywhere.

[DirtMagurt]

Originally Posted by efex101

Another friend has mentioned Shoreview which seems to be close to North Oaks...thanks for all the help guys

I mentioned that earlier in the thread as it sounded right up your alley. Great area, and many homes in Shoreview are on small lakes which helps it retain a more quiet, rural feel.

[golfgal]

Originally Posted by efex101

I agree, but for example in let's say Edina 20K is the norm whereas other areas including North Oaks the taxes are about 5K less....Also, the property taxes in MN are one of the highest we have ever seen and we have lived in more than 5 states.

Yes, our property taxes are on the higher end of things but you also get a lot in return for that, top schools, great programs, good infrastructure, etc. Having lived in states with low taxes I will GLADLY pay higher taxes for the return on that investment.

I agree with others, if you are concerned with resale, stay in the lower price ranges-under $700K for sure. If are are able to find a nice, private lake lot, you can up that some but otherwise, going over that price is going to limit your resale market.

Property taxes are also largely dependent upon how much industrial/business base the town has. Our town has a pretty large industrial tax base that helps keep our taxes on the lower end for MN. We are at about 1.2% here.

It could be worse, you could be moving to New Jersey-DOUBLE our tax rates at least.

If you do move to Shoreview, it would be in your best interest to buy a house in the Mounds View School district. It is a significantly better district then Roseville and your resale value will be greater. Mounds View is one of the top districts in the state.

[efex101]

Thanks, that helps a lot as I have no clue about school districts with two kiddos in college now

[golfgal]

Originally Posted by efex101

Thanks, that helps a lot as I have no clue about school districts with two kiddos in college now

MN does have statewide open enrollment and with Shoreview having 2 districts I am sure there is a lot of crossing boundaries there but it isn't a given that you can get into the other district and it just simplifies things if you don't have to use open enrollment.

[audadvnc]

"If money were not an issue..." Heh, most of the posts here specifically mention money. Come on, let's fantasize - "Castle in Spain" style!

As for myself, I'd live in one of those enormous old brick-and-stone mansions in town, and have a full-time house staff to keep the place in style. I'd have a party planner on call, for those monthly soirees you read about in the gossip press. And a tax accountant to handle my impenetrable maze of "charitable funds" and Cayman Islands corporations. Add a Gulfstream G6 for those weekends in Tuscany, and an impeccably maintained, ancient Rolls Royce limousine for my driver to chauffeur me around town with... let's see, a fleet of ridiculously red Bugatti and Ferrari sports cars for the gals, and a vintage green Land Rover for trips up north. Up in the (4th floor) tower, there would be a rather surly and messy, wafer thin, 22 year old, girl singer from the local emo pop band - and, in the neighborhood, a posse of big ugly goons in thousand dollar suits to intimidate or eliminate any nosy suburbanites or prospective boyfriends they happen to run across. The Governor, Steve Jobs, Lady Gaga, Keith Richards (and his dealer) on speed dial, of course. And a pet goat, with a he-man ex-President to tend him!

Waddya think? Life's more fun when you've got more money than you could ever possibly use. It just keeps rolling in, day in and day out. Those Chinese factories and brothels full of Thai slave girls are making that money for you, so you don't even have to think about it, much less work another day of your life. Work is for plebes...

Until one day, when Satan drops by to repossess your soul, maybe then you'd pause to reconsider. But until then, let's party!

"Ring around the Rosie, a pocket full of posies..."

[Globe199]

Originally Posted by golfgal

Yes, our property taxes are on the higher end of things but you also get a lot in return for that, top schools, great programs, good infrastructure, etc. Having lived in states with low taxes I will GLADLY pay higher taxes for the return on that investment.

You haven't been paying attention to state politics over the past eight years if you think that's why property taxes are high.

As far as infrastructure...what??? You can't say ANYTHING about "infrastructure" when we had a major interstate bridge collapse, killing 13 people. The US Hwy 52 bridge in St Paul is now considered to be in worse shape than the I-35W bridge was when it fell. Each time I drive 52 (which is not often, thank god), I think about the people who experienced first-hand the collapse, and I try to get over the bridge as quickly as possible. It is not a fun experience.

The infrastructure here is crumbling -- literally in some places.

[rcsteiner]

Originally Posted by audadvnc

"If money were not an issue..." Heh, most of the posts here specifically mention money. Come on, let's fantasize - "Castle in Spain" style!

Okay. After I have the moon terraformed and invite 1,000 of my closest single Latina friends to join me, I'll build a floating castle above one of the larger craters (which of course will be a lovely round, warm, and shallow tropical lake surrounded by lovely palm trees).

[audadvnc]

That's more like it!