A simplification of Minnesota?s property tax system could be on the way, if the suggestions of the state?s Property Tax Working Group task force are any indication.
Here?s what Mike Mullen had to say about the group?s proposals in a recent Finance and Commerce story:
?Among the working group?s overarching goals was an attempt to simplify the structure of property taxes. Legislators, lobbyists and close observers of the topic consistently use words like ?complex? or even ?baffling? to describe the current code, which breaks properties down into 55 different classifications.?
In many other states, property tax debates are much more local, and simply involve the rate at which properties are taxed ? versus Minnesota?s system, which is about as hard to understand as college football?s Bowl Championship Series.
Business property owners also get a better deal in many others states. Between 2010 and 2011, Minnesota rose in the rankings among the 50 states when it came to the taxes that a commercial property owner paid in a typical urban area or a typical rural area, according to a study by the Minnesota Taxpayers Association and the Cambridge, Mass.-based Lincoln Institute of Land Policy.
A Republican-led state Legislature last year sought to reduce what businesses pay for property taxes. But Gov. Mark Dayton, who is DFL, vetoed the bill because he did not think the GOP had found a way to pay for it.
Now that Democrats also control the Legislature, it appears they?re going to have a crack themselves at property tax reform. Whether businesses get a break is an open question, but they may at least be better able to understand what they are taxed when the process is over.
Source: http://finance-commerce.com/bizcost/2013/01/minnesota-property-tax-simplification-on-the-way/
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