John Spry, Opus College of Business professor of finance, spoke to KSTP regarding Eden Prairie property taxes. The city is proposing a tax levy increase of 5.6%, which would result in an additional $142 in annual city taxes for a median-value home.
From the story:
Eden Prairie has the fourth-lowest tax rate in Hennepin County, but it is still one of many cities proposing a possible city tax hike this year. ...
According to a report from the city, residential property values continue to rise, while commercial property values decline – shifting the tax burden toward residential property owners. ...
“When the tenants go away or renegotiate a cheaper lease, that’s going to affect the value of the asset. For commercial real estate, there’s been trends in working from home. It’s the changes in society,” said Dr. John Spry, Professor of Finance at the University of St. Thomas Opus College of Business.
