Northfield Pubs to Toast Commercial Property Owners on May 15

The Northfield Downtown Development Corporation (NDDC) is pleased to announce “A Toast to Commercial Property Owners,” Friday, May 15 from 4 p.m. to 6 p.m., at select establishments in historic downtown Northfield. Present your 2009 commercial property tax statement for a 50% discount on beverages at The Contented Cow, Froggy Bottoms River Pub, and J. Grundy’s Reub-N-Stein.

“I’m not sure if misery loves company, but commercial property owners sure would love a better deal,” says Ross Currier, NDDC executive director. “And with any luck, perhaps the State Legislature might consider the idea of a fifty percent reduction on taxes!”

Rising commercial property taxes are threatening the economic vitality of Northfield’s much-beloved historic downtown. Since 2000, commercial property taxes have increased by double-digit percentages every year; most building owners have seen their taxes increase by over 200 percent in the past seven years. Commercial property taxes have now reached a level where the local market rent rates no longer cover general operating expenses, much less generate cash for basic maintenance or building improvements.

Along with downtown stakeholders, the NDDC’s board of directors continue to work for tax relief for commercial property owners. Recently, State Representative David Bly and Senator Kevin Dahle introduced bills at the State Legislature intended to address the commercial property tax situation faced by older historic districts in Minnesota, similar to that in Northfield. “There’s no immediate relief in sight but we remain optimistic that our efforts will result in significant tax reductions for commercial property owners,” reports Currier. “In the mean time, it’s important to take the time to toast our building and property owners and thank them for their investment in Northfield.”

color:#333333;mso-fareast-language:EN-US">The Northfield Downtown Development Corporation (NDDC) in Northfield, Minnesota is an organization of dedicated residents who seek to realize their vision of a vibrant and vital downtown through direct and indirect investment, collaboration and cooperation with other public and private groups, and by creating awareness of the opportunities that downtown Northfield holds for the community as a whole. For more information, visit www.nddc.org.