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Retailers' Property Taxes Here Highest in Nation

ST. PAUL, MN-A Minnesota Shopping Center Association tax study concludes the average property tax cost per sf for a 25,000-sf to 40,000-sf retailer in a Twin Cities community shopping center is $2.72.

By Jim McCartney | Updated on March 12, 2001

ST. PAUL, MN-A new property tax study by the Minnesota Shopping Center Association concludes retailers pay on average 25% to 30% more in property taxes than comparable markets. “Our industry has made significant progress in lowering property taxes throughout the nation, but Minnesota is still the highest,” says John Riordan, president of the International Council of Shopping Centers.

The average property tax cost per sf for a 25,000 sf to 40,000 sf retailer in a Twin Cities community shopping center is $2.72 per sf, compared with $2.12 per sf in Milwaukee, $1.74 per sf in Des Moines, $1.60 per sf in Detroit and $2.20 per sf in Boston. For a 2,000-sf to 5,000-sf tenant in a Twin Cities regional mall, the property taxes average $10.69 per sf, compared with $4.53 per sf in Milwaukee, $3.41 per sf in Des Moines, $3.31 per sf in Detroit and $6.95 per sf in Boston. Finally, for a freestanding retailer of 5,000 sf to 15,000 sf, the average property taxes are $3.12 per sf in the Twin Cities, compared with $1.03 per sf in Indianapolis, $2.58 per sf in Des Moines, $1.15 per sf in Detroit, and $1.51 per sf in Dallas/Fort Worth.

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