[h=1]Minneapolis Forcing Owners of Destroyed Businesses to Pay Full 2020 Property Tax Before Rebuilding[/h]
After being robbed by looters, Minneapolis’ business owners are now finding themselves extorted by the city itself.
During the rioting and widespread looting, no shortage of liberal pundits justifying the violence assured their audiences that the looting actually wasn’t all that bad because it would all be covered by insurance. Most small businesses don’t have insurance, and most insurance policies only cover risks that can be modeled (such as fires, natural disasters, etc), not riots. Even in a best case scenario where a business does have insurance and is fully able to recoup the dollar value of everything stolen, the business still suffers a loss during the weeks or months they spend waiting to be paid out by insurance. Depending on the extent of the damage it could be months longer until they’re able to physically rebuild their store, costing them lost sales. And they can reasonably expect to see their insurance premiums go up.
Minneapolis is putting yet another hurdle in front of the businesses who are in the position to rebuild. There may be four and a half more months to the year, but the city wants the entire year’s property tax burden paid by those looking to rebuild before they can break ground.
After being robbed by looters, Minneapolis’ business owners are now finding themselves extorted by the city itself.
During the rioting and widespread looting, no shortage of liberal pundits justifying the violence assured their audiences that the looting actually wasn’t all that bad because it would all be covered by insurance. Most small businesses don’t have insurance, and most insurance policies only cover risks that can be modeled (such as fires, natural disasters, etc), not riots. Even in a best case scenario where a business does have insurance and is fully able to recoup the dollar value of everything stolen, the business still suffers a loss during the weeks or months they spend waiting to be paid out by insurance. Depending on the extent of the damage it could be months longer until they’re able to physically rebuild their store, costing them lost sales. And they can reasonably expect to see their insurance premiums go up.
Minneapolis is putting yet another hurdle in front of the businesses who are in the position to rebuild. There may be four and a half more months to the year, but the city wants the entire year’s property tax burden paid by those looking to rebuild before they can break ground.
