Minnesotans Face Average 5.7% Proposed Property Tax Increase
St. Paul, MN - County Assessor offices throughout Minnesota are sending out annual “Truth in Taxation” statements to property owners to provide notice of the property tax levies being proposed by local governments to support their 2019 budgets. The Minnesota Department of Revenue says the proposals, statewide, would boost property tax collections by about $560 million for a 5.7-percent increase.
The preliminary levies certified the by city governments throughout Minnesota are up 6.2% from last year, while the overall increase proposed by County governments is around 5-percent. Without any modifications before final approval, the property tax total for all townships in the state would rise 2.1-percent next year and school districts have proposed raising revenues from local property taxes by an average of 8.1-percent.
The proposed property tax levies will be the subject of public hearings next month. The Revenue Department notes the local governments have the option of approving a smaller levy when they set their final budgets. Last year, the average proposed increase was 5.2-percent, but that figure dropped to 4.6-percent when the property tax amounts were finalized. The locations and dates of the Truth in Taxation public hearings are listed on the statements that will soon arrive in mailboxes statewide.