Retail
Mall of America, Nation's Biggest, Also Pays Most of Any Shopping Center in Taxes
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The Mall of America, the nation’s largest shopping center, also holds the distinction as the biggest taxpayer of any mall in the country, according to data provided by Commercial Cafe. The data help bring into focus what is at stake for cities and towns across the nation as the future of the brick-and-mortar shopping center is uncertain because of the rise of e-commerce.
The Bloomington, Minnesota-based mall, opened in 1992, paid $30.1 million in taxes in 2016. The mall has 520 stores and 2.94 million square feet of retail space, both totals the highest of any mall in the nation. Mall of America, with 4.9 million square feet including parking, could fit seven Yankee Stadiums inside its premises. Mall of America’s tax payment placed it in 25th place on Commercial Cafe’s top 100 taxpaying properties in the United States.
Mall of America is paying almost $10 million more in taxes than second-place Tysons Corner Center in Virginia, which paid $20.9 million last year. Tysons, opened in 1968, has more than 300 stores and has 2.39 million square feet.
The country’s second-biggest mall, King of Prussia Mall in Pennsylvania, paid $9.45 million in taxes for 2.79 million square feet of space. That tax payment landed King of Prussia seventh on the list.
California and Florida each had two malls on the list.
Commercial Cafe’s data sources included PropertyShark and proprietary research. Tax values were verified with assessor and tax treasurer websites.
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