Aside from the city asking too much tax from city residents, I think property taxes, in general, are unfairly based on market value instead of ACTUAL value. It is unfair to base property taxes on an inflated market value that reflects what outside wealth is willing to pay to scrape a crummy old house.
The lot on the corner from us on 100 South 300 East is an example; the little old 1909 homestead with a rubble-rock-foundation was listed at $379,000 two years ago. Now it is a 5-plex with a starting price of $475,000 per unit. One block south of us another developer is building a 6-plex on what was a vacant lot, with units starting at $650,000.
Empty lots and old Moab funky-ass houses (some with no foundations) and others that have been rehabbed are still just funky-ass houses. But to some shmo from Silicon Valley, they are worth a half-million bucks. I’m gonna use the dreaded word SHOULD here: Property values SHOULD be based on the actual value of the homes built on them, NOT an inflated market value that a friggin’ deep pocket from Texas can afford to scrape.
Capitalism sucks. Why always support the highest bidder? Who benefits? Locals come first. Don’t price us out of our homes.
Kaki Hunter
Moab
