The value of property in St. Louis County has dropped for two years in a row for the first time since the Depression years of 1931 and 1932.
St. Louis County reported that the assessed value of residential and commercial real estate and personal property had dropped by 3.6 percent this year.
Taken with the drop in 2009 of 2.9 percent, county property is worth about $1.6 billion less than it was two years ago. The county’s assessed values determine property taxes.
The first time since the Great Depression? You don’t say.
It’s unfair to put it all on President Obama. After all, he has help from Harry Reid and Nancy Pelosi in frightening Americans into thinking that their world and their government is arbitrary and unpredictable and makes us all want to dig our fiscal bunkers just a little deeper.