Final 2014 local government property tax levies are $41.6 million lower than the levies initially proposed.
(Published Mar 3, 2014)
The Minnesota Department of Revenue (DOR) on Feb. 28 released a report highlighting the final 2014 property tax levies for cities, counties, school districts, townships, and special taxing districts for taxes payable in 2014.
According to the DOR, local units of government had initially proposed an aggregate increase in property taxes of $152.4 million last September, which was reduced to a total increase of $110.8 million with the final levy certifications in December. This $41.6 million reduction in overall property taxes represents a 27 percent reduction from the proposed 2014 property tax levies.
For cities, the $30.1 million final levy increase is the smallest city increase since 2012, when city levies increased only $17 million, and the second-smallest increase in city levies in at least the last 10 years. This year’s $30.1 million increase is less than half of the roughly $62 million average annual city property tax increase over the past 10 years.
In a DOR press release, the commissioner noted that when the enhanced homestead credit refund (formerly known as the property tax refund) and the renters credit, which were increased by roughly $133 million last session, are added to the 2014 local government levies, net overall property taxes on average will be roughly $8 million lower than in 2013.
The table at the link below compares the certified 2013 levies, the proposed 2014 levies, and the final 2014 certified property tax levies by local unit of government.
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