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.

Read more.

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.

Hillcrest Development


NAIOP MN on Twitter

RSS MN Real Estate Journal

  • An error has occurred; the feed is probably down. Try again later.


%d bloggers like this: