The NDDC’s E R Team traveled to St. Paul this morning to discuss the economic threat posed by ever-rising property taxes. The meeting was set up by State Representative David Bly. Seated around the table are NDDC Vice President Joe Grundhoefer, Legislation Consultant Laura Sayles, Property Tax Analyst Karen Baker, and NDDC Secretary Keith Covey.
The tax legislation professionals asked for details about Northfield’s experience, particularly the built environment and economic situation. NDDC representatives emphasized the challenge of addressing the high costs of maintaining older buildings while experiencing double-digit increases in property tax expenses. They also pointed out the troubling difference between the public sector’s focus on comparable sales and the private sector’s combination of sales comps and cash flow for property valuation.
The professionals sent us back to Northfield with a list of questions for which we are to provide written answers. Our answers will help clarify the policy needs and thereby shape the draft legislation for Representative Bly’s review.
We’ve got a follow-up meeting scheduled for two weeks from today.