Voluntary contributions to the Penny Per Square Foot Fund by many committed NAIOP member companies have enabled NAIOP to mount vigorous, aggressive, and strategic campaigns to defend the C/I property taxpayer over the years.
The effective property tax rate (property taxes payable as a percentage of market value) on C/I properties has declined steadily from a peak of 5.95% in 1994 to a low of 2.68% in 2007.
What does this mean?
With the Fund’s support, NAIOP’s efforts delivered millions and millions of dollars in property tax savings for you and other C/I property taxpayers over the years.
Everyone who benefits from these reduced C/I property taxes, won by NAIOP’s efforts, should be contributing to the Fund. Your pennies are needed to keep this momentum going. The threats to the C/I property taxpayer will only increase over the coming years, especially as every level of government continues to face revenue shortages and increased expenditures.
What is the Penny Per Square Foot Fund?
The Penny Per Square Foot Fund is a unique fundraising initiative through which business property owners and their business tenants support NAIOP’s public policy initiatives through financial contributions. Each contribution is based on one cent per year for each square foot of office or industrial space they own or occupy.
These pennies finance one of NAIOP’s most important missions: The unrelenting pursuit to reduce the property tax burden shouldered by Minnesota’s businesses, our tenants and clients.
As early as 1983, NAIOP’s leaders recognized that the commercial real estate industry could not continue to grow and its business tenants would not be able to successfully compete with firms in other states without significant reductions in Minnesota’s burdensome high taxes on commercial and industrial property.
Taking decisive action, NAIOP launched an aggressive and highly focused legislative effort in a successful fight for equity in property taxation, reduced government spending and business friendly public policy.
Voluntary contributions to the Penny Per Square Foot Fund by many committed member companies have enabled NAIOP Minnesota to mount vigorous, aggressive, and strategic campaigns to defend the C/I property taxpayer over the years.
Anderson Property Management
Carlson Real Estate Company
Cushman & Wakefield/NorthMarq
Equity Commercial Management
First Industrial Realty Trust
Liberty Property Trust
Linvill Properties Inc.
Piedmont Office Realty Trust
Pinehurst Properties, Inc.
Ryan Companies US, Inc.
Steiner Development, Inc.
TOLD Development Company
Welsh & Colliers International | Minneapolis-St. Paul
4248 Park Glen Road
Minneapolis, MN 55416
| 4248 Park Glen Road
Minneapolis, MN 55416
| p: 952.928.4647 | f: 952.929.1318
Go to mobile site