Anyone who owns a commercial property in Minnesota pays a property tax. Several factors determine the amount you pay, including your property value and the estimated market value. Thus, it is vital to know how this tax type works. But why does Minnesota charge...
If you bought commercial real estate as an investment, you will be pleased to see prices in the area rising. Yet, if your next tax bill is also higher, you will be less thrilled. Are the two related? They might be. Here is how property tax works. First, the county...
Local authorities depend on taxes levied on commercial and residential property owners to cover many of their outgoings. Yet when you see your bill rising, there may come the point where you stop and say enough is enough. Local authorities have several ways of funding...
Until a couple of years ago, there was a high demand for city center office space. Owners of those commercial properties could expect to charge a considerable amount of rent to companies desperate to place themselves in central locations. Then it all changed. Once...
Whenever you look to contest a decision that someone else has reached, your key line of investigation should be to assess how they reached their decision. Local tax assessors have the job of assessing your property’s value. This is then fed into an equation by the...
Your commercial property tax bill will land in your mailbox in January of each year. It can be tempting to file it away to deal with later as you do not have to pay it until April and October of the following year. When you operate a business, there is always...
To understand if your commercial property tax bill is correct, you need to know if the property value used to calculate it is accurate. Remember that tax appraisers have thousands of properties to assess, so they may not take the time to investigate each property...
You’re looking for a new commercial space as your company continues to expand. You’re currently weighing the pros and cons of renting or buying. One of the biggest considerations you have to factor in is tax expenses. Could buying a commercial property outright,...
Because 2020 was a historically difficult year, Hennepin County board commissioners voted to approve a zero percent tax levy increase for this year’s budget. This year, the board has approved a 3.5 percent increase in the property tax levy to pay for $900 million of...
