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Article: Rising Local Tax Base Signals Higher Property Values in Twin Cities.(Originated from Saint Paul Pioneer Press, Minn.)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- February 16, 1996
- Author:
CopyrightCOPYRIGHT 1996 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Feb. 16--After three years of decline, the Twin Cities commercial-industrial tax base is on the rebound, according to a report being released today by the Citizens League.
The tax base that makes up the Twin Cities' property-tax sharing pool rose 7.6 percent in value, reflecting both a rebound in commercial property values and fewer successful commercial property tax appeals, the report said.
Last year the pool fell 13 percent, largely due to successful property tax challenges by the owners of office buildings in downtown Minneapolis and the Interstate 494 and Interstate 694 strips. That was the pool's largest drop since the "fiscal disparities" tax-base ...