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I I I Council Meeting Minutes March 10, 1987 Council Business, continued Brandt did not believe it is ever improper to ask questions of inequities in terms of property tax burdens; if inequities are found, it is good. With regard to the other side of the policy question, it may be appropriate to refer the long-term advantages to the city to not encourage early and small types of development by raising the valuations of the property; and suggested perhaps that part of the question could be referred to the Economic Devel- opment Commission who might take a different point of view. Benke believes the whole business of taxes and valuations, changes in rates, and consolidation of the classes is almost a question of where do you start. Egan indicated to make it less advantageous to hold your property, the State decreased the period you could go delinquent (from five to three years with different incentives to hold the property) so the vacant landlord has fewer incentives to hold the property. Egan stated the greatest inequity is the valuation put on home- steads as they are taxed at the lowest rate. Egan stated this is a very broad question that may go beyond the City of New Brighton. Schmidt stated if council refers the question to a committee, that committee should get a thorough understanding of market value for developed and undeveloped property from Ramsey County. Gunderman asked what the City's role would be regarding homes and businesses that are overtaxed. Benke asked if we have available staff time to productively sup- port that process. Sinda stated some of the questions are meaty questions and does not know how versed the Financial Policy Advisory Board is on real estate taxation; indicated some questions have more than city-wide significance; if property in all communities in Ramsey County are being assessed the same, there is probably not too much we can do. Sinda stated we can find out from the Assessor's office, which has just been revamped, how often properties are reviewed by their office; and understands over a four-year period each property will be reviewed so the problem may take care of itself. Brandt believes the problem will take care of itself only if there is not a general policy of undervaluing. Sinda stated we can ask him if property taxes in our county are assessed at a higher percentage than someother counties in the state and some other counties in this metropolitan area. Page Seven