Posts Tagged ‘business property taxes’

Minnesota Business Property Taxes Per Capita, Employee

Minnesota business property taxes really aren’t that high, based on analysis of information from the annual business tax report prepared by Ernst & Young (EY). As described in the preceding article in this series, Minnesota’s business effective property tax rate is below national and regional averages and less than in most other states. An analysis…

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Minnesota Business Property Taxes Below Average

A common mantra among conservatives is that Minnesota business property taxes are high relative to other states—a view promulgated by Minnesota’s business lobby and interest groups. Analysis of data from impartial sources, however, suggests that the opposite might be true. The most commonly cited claim that Minnesota business property taxes are among the highest in…

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Property Tax Break Favors Large, Metro Businesses

The state revenue loss resulting from changes to the state business property tax in the tax conference committee report are likely to increase rapidly over time—for reasons described in a recent North Star article—and ultimately surpass the revenue loss associated with other tax cuts in the report. As the magnitude of that tax break swells…

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State Business Property Tax: Flat Levy, Declining Rates

As a whole, the property tax changes enacted in 2001—including the state business property tax—have worked out well for Minnesota businesses, as noted in part 1 of this series. In addition, the cost of eliminating or drastically reducing the state business property tax might not just spend down a surplus, but inflate a deficit, as…

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Are Large Cuts to the State Business Levy Affordable?

The series of tax changes enacted in 2001—which included the creation of a general state business property tax—have worked out well for businesses. The previous article in this series showed that if the changes that most directly pertain to businesses had never been enacted, statewide business property taxes would be 11.5 percent higher today, holding…

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Fiscal Disparity Program Reduces Business Tax Disparities

The seven-county metropolitan tax base sharing program has successfully reduced property tax disparities within the metro region, as revealed by analysis presented in the previous article in this series. By taxing a significant portion of the business value in the metro area at a uniform rate, the program is particularly effective at reducing business property…

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Business Property Taxes Not as High as We’re Led to Believe

A recent publication from the Minnesota Chamber of Commerce contains a list of claims regarding the level of business property taxes in Minnesota relative to other states: 49th “worst” (i.e., second highest) among the fifty states for rural commercial property taxes, 45th worst for metro commercial property taxes, and 40th worst for industrial property taxes.…

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