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Article: Parking lot owners share your pain
- Article from:
- The Milwaukee Journal Sentinel (Milwaukee, WI)
- Article date:
- May 24, 2002
- Author:
CopyrightCopyright 2002 The Milwaukee Journal Sentinel. Provided by ProQuest LLC. (Hide copyright information)
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Land & Space
Parking lot owners share your pain
City boosts their assessments, based on the money they take in
By TOM DAYKIN of the Journal Sentinel staff
Friday, May 24, 2002
The shack just north of Turner Hall doesn't exactly rate as a
downtown landmark.
But its newly assessed value of $262,000 -- almost 10 times last
year's assessment -- has the property owner wondering how the modest
building can carry a six-figure price tag usually associated with new
downtown condominiums.
The shack's hefty value is based on the total assessed value of
the parking lot, and reflects a state law that requires total
property values to be broken down between the land and its
improvements, says Peter ...