Cabin Owners Could See Big Tax Increases

Some cabin owners in the Brainerd Lakes Area may see their property taxes go up by as much as 30 percent, according to Crow Wing County Assessor Martyn Schmidt. He tells KLKS News the impact will vary as the benefit of the so-called Limited Market Value was phased-out. LMV was a cap on how much cabin and lakeshore owners would have to pay, if the difference between the actual market value and taxable value grew too fast.

Schmidt says everyone is at their estimated market value now. He says the most recent market values were set on comparable sales in the last three months of 2007 and the first nine months of 2008. Property taxes are payable in May 2010.