Vickie Heller writes: > Target Center: $12,159,900 / 127,999 sq. ft. = $95.00 per ft. > > Note: Target Center apparently doesn't pay any taxes, despite the $95 per > square foot land value. The MCDA is listed as the owner of the property > and NO TAXES appear on the public records. The address is 600 1st Avenue > N. Check it out for yourself.
<snip> > Attention List Journalists: There is a Pulitzer Prize in this story. It makes sense that Target Center pays no property taxes because - as Vickie notes - it is publicly (MCDA/city) owned. However, Timberwolves owner Glen Taylor (the major tenant) makes a "personal payment in lieu of property taxes" that is equivalent to what a private owner would pay in property taxes. His payment was one of the requirements of the Target Center bailout. It's fair to ask what that current payment is - can a fellow list member with quick access to the info please post? Taylor's payment has been cut quite a bit in recent years because of state-mandated reductions in commercial property taxes....the same rate reduction that all commercial-industrial payers received. David Brauer King Field _______________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: [EMAIL PROTECTED] Subscribe, Unsubscribe, Digest, and more: http://e-democracy.org/mpls
