The NDDC hosted a Block Head Gathering of Commercial Property Owners and our new legislators, Al DeKruif and Kelby Woodard. There was only one topic on the agenda: Commercial Property Taxes.
The NDDC summarized the recent history of commercial property taxes in Northfield. Since 2000, commercial property taxes have increased by double-digit percentages annually. During this same period, rental rates have remained flat or, in many cases, even declined. As a result, with rising commercial property taxes, each year there are fewer dollars available for basic operations and maintenance, much less money for building improvements. In fact, commercial buildings have gone from producing positive cash flow to a point where the owners are now forced to draw down savings to pay their property tax bills. Several property owners shared their personal stories with the legislators. Continue reading NDDC Hosts Gathering with Senator DeKruif and Representative Woodard