About the Midwest: Business Climate
Property Taxes
Iowa
- Manufacturing machinery and equipment, as well as computers used to process data by insurance companies and financial institutions, are exempt.
- Personal property is not assessed for tax purposes, including corporate inventories of salable goods, raw materials or goods in process.
- Pollution control and recycling equipment may be eligible for a property tax exemption; improvements to real property that are primarily used to control pollution of air or water, or primarily used for recycling, may qualify.
Minnesota
- Most commercial and industrial property assessed at 1.5 percent of first $150,000 of market value and 2.0 percent of remainder.
- Personal property exempt, including machinery and inventory.
- Local governments tax all real property not specifically exempted.
- Varying tax rates set by localities.
Wisconsin
- Varying tax rates set by counties assessed at 100 percent of full value.
- Exemptions include manufacturing machinery and equipment, manufacturing inventories, computer equipment, pollutions control equipment and merchant’s inventories.
