50-State Property Tax Comparison Study

May 2, 2011 at 9:28 am

The Minnesota Taxpayers Association just updated their 50 state property tax rankings for payable 2010. Again, their study continues to show a high burden for business properties in Minnesota. A couple of key findings from that report for business property taxes include:

  • Homestead taxes remain modest compared to neighboring states and are below the national average.
  • Urban and rural $25 million commercial properties and rural $1 million commercial properties are all still ranked well within the top 10 nationally.
  • Industrial burdens generally range from 10% below national averages to 20% above national averages depending on property values and location within the state.
  • And, even though commercial properties in Minnesota have experienced significant competitive improvement since 1995, when comparing three different property values of commercial buildings in Minneapolis, property taxes payable are still 12-44% above the national average. When comparing three different property values on commercial buildings in Glencoe, property taxes payable are 19-54% above the national average.

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Entry filed under: Public Policy | Government Affairs.

Minnesota Senate passes a cut in business property tax bills More details, more power to the people


For more information about NAIOP Minnesota, visit www.NAIOPMN.org.

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