Your article dated 14th, Aug. 2007 about St. John residents shocked should not be a shock. Most people who own property don't have an understanding about what goes on. For years St. Joanians have been selling themselves out of St. John, now everything has come home to roost. With land prices so high and houses appraised at values above the clouds, what can you expect? How do you now depreciate the value of these homes and stack the value next to someone else in order to drop their tax value, do you drastically drop the high end home tax also?
It is a hard case to take and you will have a serious effect which ever way it goes. The locals did not see the true picture and now they are caught in the middle, hey the money was good when they were selling.
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