INSIDERS & ISSUES 2.5.2016
Date and Time
Friday Feb 5, 2016
8:00 AM - 9:30 AM CST
Friday, February 5
8:00 am - 9:30 am
Location
Guardian Angels Corporate Office
508 Freeport
Elk River, MN 55330
Fees/Admission
no cost
Contact Information
Debbi Rydberg
Send Email
Description
This month we will discuss BUSINESS PROPERTY TAXES.
Beth Strinden Kadoun, Vice President,Tax and Fiscal Policy for the Minnesota Chamber will join us to share her insights on the topic.
ENACT MEANINGFUL BUSINESS PROPERTY TAX RELIEF
Minnesota businesses property taxes are among the highest in the nation. Tax burdens on some properties are more than 90% higher than the national average and more than 200% higher than in neighboring states. Businesses pay a disproportionate share of the property tax; they have 12% of the market value but pay 32% of the total property tax. Much of that disparity is due to the classification system and the state levy that businesses must pay in addition to all their local property taxes. We support reducing this fixed cost of doing business by reducing the statewide levy and eliminating the automatic inflator. We oppose any additional shift of taxes to commercial/industrial properties.
