MASTERWERKS LLC BUILDING SERVICES Custom Home Building, Transformations, Renovations
News that’s seemingly minor, often related to governance changes, can have major, lasting effects on homeowners’ pocketbooks and neighborhoods. Vantage Point alerts raise awareness of pending issues and backroom maneuvering, creating opportunities to speak up publicly when it counts.
May, 2024
Regulatory Update:
Edina Approves Accessory Dwelling Ordinance, Demonstrating Leadership with a More Affordable Housing Policy Initiative
Although the proposed statewide “Missing Middle” Omnibus Housing bill was tabled in the Minnesota State Legislature this past month, the City of Edina has moved forward on its own. Displaying real leadership, the city council has approved an ordinance that conditionally permits one Accessory Dwelling Unit (ADU) to be built on any lot with a single-family home, assuming it’s appropriate to that purpose. ...
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March, 2024
Legislative Priority Alert:
Omnibus Zoning Bill Overrides City Authority, Radically Increasing Density by Dictating Statewide Affordable Housing Standards
Although there’s no question that Minnesota needs more affordable housing solutions, the “Missing Middle Housing” bill (SF 1370/HF 1667) currently steamrolling through the Senate merits more scrutiny and public discussion—in MasterWerks’ opinion, a lot more!
If passed, this omnibus zoning bill (combining four bills previously introduced in the state legislature) would supersede all city zoning and land use authority throughout Minnesota, including ...
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March, 2024
Regulatory Alert: Proposed Licensing Requirements for Minnesota Painters
New regulations in the building trade tend to fly under the public radar, but SF 3554, a proposed bill now working its way through the Minnesota State Legislature, should be catching people’s attention and sparking debate. ...
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December 2023
Edina Is Considering a New 0.5% Tax on Home Sales Above $500,000.
News about this potential tax increase on home sales—under discussion as of today—just came to our attention. We want to make sure it’s on your radar, too, because if passed, there will be significant financial implications for both sellers and buyers within Edina’s city limits.
The City Council’s intention is to better fund Edina’s Affordable Housing Trust Fund by imposing a 0.5% tax on homes sold over $500K. (For your reference, of the 435 homes sold through the MLS in Edina in 2023, the average sale price was $1,025,673, which would translate to a tax of $5,128 under the proposed update.)
Although the larger objective of this prospective tax increase may be laudatory, “For every action, there is an equal and opposite reaction.” In our current tight, competitive market, a significant increase in sales tax may very well translate into higher sales prices.
Whatever your thoughts may be about this proposed tax increase, we encourage active citizen engagement by contacting your City Council members and expressing your opinion before it’s too late.