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Lake property in Pine City

The 2009 assessed values are not yet on the County web site.  For lake property, have they dropped?  (In Rush Lake area they dropped about $40,000 from 2008 to 2009).  It seems like offering anything more than the current assessed value makes no sense.

Any comments?
  • July 04 2009 - Pine City
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Answers (2)

Profile picture for robinruegg
Called assessor's office & found out the properties we're looking at have all dropped significantly in assessed value this year.  Nice to have so much on the internet, but it's slow to get updated.  Buyers beware--get the most updated info by calling the county assessor office!We'll see if we can get the right combination of property and willing sellers.  Last time we tried putting in an offer the sellers did not seem to understand that the market had dropped significantly since a year ago, so we walked.  We're trying to get the right deal, not just messing with sellers and super low offers or anything.

One of the properties we are looking at--the sellers are "upside down" as they had purchased it in 2007.  Not sure I want to get involved in that kind of deal--they would not be happy people.
  • July 06 2009
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Tax values in Minnesota are decided in the previous year. The tax values and taxes homeowners are paying in May and October 2009 were determined in January of 2008.

Needless to say alot has happened in that year and a half.

Get the advice of a local Realtor in Pine City to get a sense of where property values have headed in the last year. You may just want to offer less than the 2008 property values.
  • July 06 2009
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