Claims of a property tax crisis outstate may be overblown

February 24, 2011 at 5:16 pm

Monthly columns in Finance and Commerce and Capitol Report feature topics raised by research managed by NAIOP Minnesota’s Nexus Task Force (NTF) and conducted by the Minnesota Taxpayers Association (MTA). These columns are orchestrated by NAIOP Minnesota and authored by Mark Haveman, MTA.

Read the February column, Claims of a property tax crisis outstate may be overblown, appearing in the February 11th issue of Finance & Commerce.

The ability to pay taxes is a function of how the economy is doing, and at least in some outstate areas, communities have appeared to weather the recession reasonably well. Department of Revenue data indicates that from 2008-2010— representing the heart of the Great Recession—total commercial and industrial property values fell by over $3.2 billion just in Hennepin County alone. Commercial-industrial property values in Anoka, Washington, Dakota, and Ramsey counties declined by an additional $1.7 billion. But 54 of Minnesota’s 87 counties experienced commercial-industrial property value increases during this period and 13 counties actually experienced double digit growth. This is important because Minnesota businesses are finding themselves in the political crossfire on the controversial issue of aids to local governments.

Entry filed under: Nexus Project, Public Policy | Government Affairs.

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