Revenue Department Predicts 5.2 Increase in Minnesota Property Taxes
James Allen | Nov 15, 2019 AT 5:36 am
(MNN) Property taxes statewide are expected to increase five-point-two percent or by 540-million dollars in 2020, according to preliminary numbers released by the state Revenue Department.
Minnesota school districts lead the pack at seven percent, followed by cities at six-and-a-half percent, counties at just under five percent, and townships about four percent.
Actual levies depend on the property itself and preliminary numbers are being mailed to owners this month in Truth-in-Taxation notices.
After public hearings, local governments must set final property tax levies by December 30th, which can be no higher than the preliminary rates.