I'd say the petro-rent rates would be the biggest barrier to young adults' settling in, more than the property taxes.
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rent has to be that high because of the property taxes minot charges. we haven't had a sales tax increase in months - it must be time for that to go up too. welcome to minot - bring plenty of money if you plan on staying.
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It hasn't stopped people from moving here, so the logic says more inhabitants would translate to lower taxes. Not in bizarro world in Minot. Did all of the newly built housing complexes receive property tax forgiveness for agree years or what?
If a newly built 24 plex has a rental rate of a thousand per month, the income from a 24 plex is going to be 288,000 each year. Minot needs rental income tax. Investors are making out like bandits.
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A few years, not for agree years.
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Minot was a great place to grow up in,but as a place to work and live in now you need to have a pretty high paying job and I'm not talking oilfield job either.
Gas is like 30-40 cents higher there then in Fargo.....when I visit there I avoid filling up....I bring two pre filled gas cans so I can fill my car up enough to get to Grand Forks to buy gas.
Like many things in life, it's never just one thing, but rather, several things acting in concert that, as an aggregate, cause something to get really screwed up.
To try to point to one piece of the total and say, "See? I told you! Everything I think and believe is totally validated by this!" while ignoring everything else is the height of intellectual malfeasance.
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I agree 100% with animal. Greed is the true culprit. From rent to gas to groceries....the greedy are getting richer and richer off of us! Hopefully they will get a visit from Karma.
It's greed, yes, right up until you benefit from it. Oh watch how quickly people change their tune.
"Greed"? Please. This type of complaining is the sort seen from people who are upset that things are passing them by and they don't benefit from it the way others benefit.
"the greedy are getting richer and richer off of us!"
And the envious who got left behind are trying harder and harder to destroy that which the industrious are trying to accomplish and build.
Find a way to provide value to others, not deride the reputations of those who are already providing value to others.
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Gotta love that $288,000 a year example on a new complex. No mortgage, no taxes, no upkeep,no maintenance, just "pure profit" I can hardly believe the poster didn't build 3 or 4 of these complexes if it's so lucrative. By the way, rental income is taxable both on federal returns and state of ND returns. Some of these posters should try living in one of the "progressive utopia" states if the situation in ND is so onerous. Wasn't that long ago that these same posters were whining about the lack of good paying jobs and economic activity.
Wasn't that long ago when "outmigration" was the hot watchword. How things have changed. I guess some people just want to be unhappy and pick the topic du jour.
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301 4th St SE , Minot, ND 58703 | 701-857-1900