About the Midwest: Business Climate

Property Taxes

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.

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.

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.