One example of how overassessment
suffucates a community:
Up until the last few years,
Brewers Hill was a ''Hot Spot'', ''Up and Coming'', ripe with older homes that rehabbers came back into the city to redevelop.
The city recognized this attempt, and started raising assessments higher and higher each year. Now, the dreams of Brewers Hill have come and gone. It's very difficult to afford to live in this area, and actual investment in this area by ordinary people (not developers) is very rare.
Hmmmm...Piggsville gets a $12 million very well publicized Flood Control Facelift, larger Park, Walking Trail, etc.
Upon completion Piggsville is proclaimed ''Up an Coming'', tax assessments go higher and higher each year, investors start buying up property at a fast a furious rate at possiby overinflated prices, Homeowners eventually find it unaffordable to live here due to tax burdens and unresolved flood insurance issues, they sell out and move, now you have an overtaxed investment property area, not a quaint little neighborhood with a 100 plus year history.
Someone please remember to turn the lights off on their way out!
suffucates a community:
Up until the last few years,
Brewers Hill was a ''Hot Spot'', ''Up and Coming'', ripe with older homes that rehabbers came back into the city to redevelop.
The city recognized this attempt, and started raising assessments higher and higher each year. Now, the dreams of Brewers Hill have come and gone. It's very difficult to afford to live in this area, and actual investment in this area by ordinary people (not developers) is very rare.
Hmmmm...Piggsville gets a $12 million very well publicized Flood Control Facelift, larger Park, Walking Trail, etc.
Upon completion Piggsville is proclaimed ''Up an Coming'', tax assessments go higher and higher each year, investors start buying up property at a fast a furious rate at possiby overinflated prices, Homeowners eventually find it unaffordable to live here due to tax burdens and unresolved flood insurance issues, they sell out and move, now you have an overtaxed investment property area, not a quaint little neighborhood with a 100 plus year history.
Someone please remember to turn the lights off on their way out!


