2007 property tax bill estimates were sent out, last week.

The press was all over it, because a lot of people's tax bills are going up. It seems ironic to the average reporter, because of all the talk of a slower real estate market. Of course, even now, as of today, prices of downtown condos have only dropped 2-3% (I don't know), so to say that assessed values should go down, because sales prices have gone down, is specious.

The property tax rates were set based on a condo's value as of January 1, 2006, based on sales data from 2005, so rates are still not reflecting the still-booming market of last year (in sales prices, if not sales volume).

I understand people's concerns over higher tax bills. I also know it's easy and sometimes unfair to throw darts at rich people.

However, let's do it, anyway.

From the Herald:

The city’s average tax bill is poised to increase 11 percent this year ...

His tax bill, meanwhile, jumped to more than $8,000 a year, up from $6,100 last year. The increases have not been matched by any marked improvement in city services, with the taxes on his condo at a much more modest $2,100 when he bought it in 1993, Wintermeier contends.

So, I took a look at the public record, to see what I could find out.

On the City of Boston's assessing website, we can see a bunch of information about Mr. Wintermeier's condominium home.

He lives at 148 Commonwealth Ave. Yes, the assessed value of his home is now $896,000 and last year it was $658,000. That's a steep climb.

Why did it go up so much?

Comparable sales, most likely.

There have been sales in his building in access of $1,000,000, for homes with the same (presumably) layout as his, with 1390 square feet. Unit 401, upstairs, was sold for $1, 275,000, in 2004.

Here's a picture of his neighbor's home, from MLS.

Nice!

There is actually a unit on the market right now, in the building, listed in excess of $850 / square foot. Do the math, and Mr. Wintermeier's home is worth more than a million dollars, easily.

The contrary to his argument is true - in fact, he's been underpaying what he should be!

This, of course, doesn't mean our taxes should be as high as they are. There's also a good argument that the rich people, or those who live downtown, are subsidizing the poorer neighborhoods (shouldn't they?).

Mr. Wintermeier (the "community activist") writes about this, in a story in the Neighborhood Association of the Back Bay's (NAGG) newsletter.

More: Under at-tax! Homeowners face massive increase - By Scott Van Voorhis, The Boston Herald