Regular readers of our Minnesota Commercial Property Tax Appeals Blog will undoubtedly recall a recent post about the economic effects of the Covid-19 pandemic on owners of properties such as shopping centers. We'll dive a bit deeper into the subject now. Adding it up...
The economic fallout of the Covid-19 pandemic has had a negative effect on virtually all of the nation’s economy, including income-producing commercial properties. Owners of those properties now have tenants contending with steep declines in revenue that can mean...
Let’s continue our look at the process of obtaining tax relief for owners of Minneapolis commercial properties damaged in the recent civil unrest. (If you haven’t read Part I, simply click here.) Mandated reassessment In order to obtain the commercial property tax...
To say that this has been a tumultuous year for Minneapolis commercial property owners is to understate the obvious. A global pandemic resulted in an unprecedented slowdown of economic activity and civic unrest resulted in significant damage to some commercial...
As regular readers of our Commercial Property Tax blog undoubtedly recall a recent post about the “50-State Property Tax Comparison Study” issued by the Minnesota Center for Fiscal Excellence and Lincoln Institute of Land Policy. The study is a deep dive into both...
The very first date on the Minnesota Department of Revenue’s property tax calendar is January 2 – the assessment date for both real and personal property in the state. Though that date came and went uneventfully only about six months ago, it must feel like a distant...
The Minnesota Center for Fiscal Excellence and the Lincoln Institute of Land Policy recently released their “50-State Property Tax Comparison Study.” The in-depth look at taxes paid last year offers a wide range of information about both residential property taxes and...
Assigning a value to a commercial real estate property can be a complicated and intensive process. Commercial real estate is not appraised in the same way as residential properties that rely on the other properties located in their immediate vicinity. There are a...
Commercial property taxes are one of the most substantial financial burdens for a company. Due to the number of variables that go into a commercial property tax assessment, real estate owners need to review and appeal property tax assessments annually. Preparing for a...
Your property taxes seem like they are always going up. While that might not actually be true, it’s best to be prepared for when it does happen or be able to argue that it shouldn’t be the case. Having a tax plan in place for your business can help navigate variations...
