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~~' <br />.. <br />~'`" :.s <br />EIk River Area <br />Chamber of Commerce <br />BUSINESS PROPERTY TAX RESOLUTION <br />WHEREAS, businesses are the principal source of jobs and economic <br />vitality in the City of Elk River, and <br />WHEREAS, the City of Elk River's businesses must have competitive <br />prices in order to stay in business and continue employing residents of our <br />community, and <br />WHEREAS, business property taxes are a significant cost of doing <br />business, equaling a second fifteen-year mortgage on every Minnesota business, <br />and <br />• WHEREAS, Minnesota business property taxes place local businesses at a <br />competitive disadvantage because their taxes are significantly higher than their <br />competitors in other states, and <br />WHEREAS, communities like the City of Elk River cannot afford to lose <br />jobs because potential new employers choose other, less expensive locations, and <br />WHEREAS, previous efforts by the Legislature to reduce effective tax <br />rates on business property have not been successful, and <br />WHEREAS, relief for business property taxpayers must be achieved <br />without causing .significant tax increases on lower income homeowners and <br />renters and without raising taxes <br />NOW THEREFORE BE IT RESOLVED that the Elk River City Council does <br />hereby call on the 1995 Minnesota state legislature to act to make business <br />property taxes competitive with those in Minnesota's neighboring states. <br /> <br />509 Highway 10 • Elk River, Minnesota 55330-141 S • (612) 441-3110 <br />"Building a Better Community Together" <br />