Some time ago, Whistleblower was asked why high-end properties are sometimes taxed well below their market value. The inquiry followed news last year of the sale of Jessica Lange's Victorian estate in Stillwater for $1.825 million, while Washington County assesses it for only $1.265 million. Here's what our tipster had to say:
Whistleblower put the question to Kevin Corbid, who's in charge of tax assessment for Washington County. Corbid said sales data are among the factors that the counties consider when determining the assessed value of properties. The county uses data crunched by state Department of Revenue to ensure it's setting those values equitably.
Corbid said the county wouldn't unilaterally raise the assessment of the former Lange house on the basis of the recent sale. That frowned-upon practice is called "spearing," he said.
"I don't think there's been any symptomatic issue where higher priced homes are valued differently than lower priced homes," he said.
If the Stillwater house were assessed at the same amount it was sold for, it would generate an additional $5,000 for the county, Corbid estimated.
Do you think owners of valuable properties are paying their fair share?
