Reader Opinion: Home values

Our property tax has now equaled the mortgage payment of years past.

Stack of newspapers on a laptop computer.

The home values in Crow Wing County are skyrocketing but at what price? Lakeshore property is a source of the inflated prices. The metro area second home buyers are willing to pay asking price or more. The other new buyers are the VRBO investors. They will pay any price for lakeshore property. On our small lake alone, we have multiple VRBO owners. This is a business for them and some of the cost can be a tax write-off, unlike the typical homeowner. Many times these VRBO renters are not good neighbors as far as noise and cleaning up after themselves. In the meantime, home values are rising and the property taxes. The goal of retirement is to have the home mortgage paid off and live comfortably on your retirement check. This has all changed. Our property tax has now equaled the mortgage payment of years past. And as all retirees know, our retirement checks do not keep up to inflation. With the new property tax increase, it’s like $4 a gallon gas on the fire.

Joe Patton


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