"The numbers as of last night Caldwell down 11% Nampa down 9% and Middleton down 9%. And that does not include the impact from Commercial or Mobile homes because we have not run final numbers yet. By tomorrow we should know small towns and the county residential values. Remember these are gross City numbers one year compared to last year and not every home in Caldwell will enjoy a 12% decline some homes actually went up depending on the reappraisal cycle. Call me if you have more questions."
All of this means less revenue for cities and county government in Canyon County. The CAP on property taxes will mean digging into reserves or making cuts to overall spending.
Additionally, several articles in the Wall Street Journal indicate another round of foreclosures and repo houses will start in the next 45days. Owning property is a gloomy proposition for those who have any expectation of appreciation in their homes and property.
Owning industrial property in Caldwell, and trying to rent, lease, or sell it isn't fun either. Taxes are high and probably going higher. I saw a program on TV about Detroit MI, property owners just walk away from run down buildings and the city gets no revenue from them at all. Detroit has no tax base. Is Caldwell becoming Idaho's Detroit? Maybe!
ReplyDeleteCheers!
Today's IPT front page tells of Caldwell spending more $$$$$$$$ on the Caldwell Air Terminal ("CAT"). One of Caldwell's counselors left counseling to oversee the "CAT". Pays more!
The first air passenger to use "CAT" will probably get a Bronze plaque cast in his/her honor. Taxpayers are taking it in the shorts once again!
Kit Mfg. Plant will go for a tax deed soon if it is not redeemed by the owner. And it is my understanding the property is part of a decedant's estate. The taxes due are pushing around $300k with back taxes and penalties.
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