By Liz Wolf | MNCAR
There’s no question that Minnesota has among the highest property taxes in the nation – and property taxes are being disproportionally collected from commercial and industrial properties.
Commercial and industrial properties account for less than 13 percent of the total property market value in Minnesota, yet they account for more than 30 percent of all property taxes collected.
“Minnesota’s classification of property taxes places an undue burden on commercial and industrial properties,” says Matt Anfang, executive director of MNCAR.
What exactly is the C/I tax?
Over and above the property tax that a business pays—like any property owner– to the local city, county and school district, it also pays an additional state property tax that goes to the state’s general fund. This statewide business property tax was enacted in 2001 and automatically increases with inflation each year.
By Liz Wolf | MNCAR
AJ Chivetta doesn’t hesitate: Crowdfunding is changing the way people can invest in commercial real estate. And because of this, the number of people investing in commercial real estate through crowdfunding will only grow in the coming years, he said.
Chivetta should know. He’s a founder and chief executive officer of Selequity, a St. Louis-based company that helps investors place their dollars in commercial real estate properties across the country. He’s seen up-close just how eager consumers are to invest in commercial real estate properties that were formerly out of their reach.
“Crowdfunding solves problems for both sides of the commercial real estate transaction,” Chivetta said. “Investors are looking for opportunities to invest in real estate. They are looking for the kind of yields that real estate has long afforded people, especially in low-interest-rate environments. Real estate owners and operators are always looking for new investors and capital.
“With crowdfunding, more investors can gain access to commercial real estate, and owners can attract capital from a greater number of people,” Chivetta said.
Continue reading Commercial real estate crowdfunding is here to stay, say the industry’s pioneers.
Written by Dan Rafter, REJournal.com.
In the article The Future of Work: How office design is changing, times have changed, Jonathan Webb, vice president of workplace strategy at KI, told HR Dive. As millennials and younger workers enter the workforce straight from college, more workers are demanding different work environments that allow and encourage the flexibility and movability that they had during university.
But employees of all ages are also seeking offices that encourage health and wellbeing — and that means saying goodbye to cramped spaces, windowless walls and sitting for eight hours straight.
What defines the office of the future? We spoke to the experts to find out. Read more.