Inside View: Doug Fulton, Cushman & Wakefield/NorthMarq

Executive director of the corporate advisory team at Cushman & Wakefield/NorthMarq

Doug Fulton has worked in commercial real estate for two decades and leads the tenant advisory team specializing in corporate real estate services.

He's a board member and past president of NAIOP Minnesota -- a 720-member commercial real estate development association -- and sits on the Minnesota Chamber of Commerce's board of directors. He's serving a two-year term as chairperson of NAIOP's public policy committee, one of its most active groups. He will lead the committee into the 2013 Minnesota legislative session.

QWhy lead this committee?

AIn college, I was a government major. I've always had an interest in public policy. ... I'm a member of the Minnesota Chamber of Commerce board, active in our advocacy efforts at both the local and state levels. I have an understanding of how policy is developed and implemented.

QWhat's the committee's primary role?

AIt gets a lot of attention, because it's key to helping us try to reform the property tax system. It's comprised of a whole bunch of very knowledgeable developers, property managers, investors, brokers, architects and attorneys -- all really with the goal of promoting lower business and property taxes, which encourages development and helps create a better business climate.

AOne main initiative is the "expenditure-type reporting initiative," which provides for greater transparency in local government budgeting and reporting and creates a process that makes it easier for taxpayers to understand why property taxes change. We had that initiative in last year's tax bill and it passed in the House and Senate. The tax bill was vetoed by the governor, so one of our key initiatives is to re-propose it.

QWhat does greater transparency in local government spending have to do with property taxes?

AMuch of local budgets are comprised of property taxes, and every year ... generally, taxes go up. Oftentimes, it's difficult for taxpayers to understand exactly how the budgeting process works within any given city. This initiative is meant to create a consistent reporting format for cities.

QWhat are other initiatives?

AWe've had a member sitting on the property-tax reform committee for two years, providing input on simplifying the property tax system. We're reviewing fiscal disparity, land use and local development costs. If you look at those items alone, we have a lot of work ahead of us.