WASHINGTON, D.C. – November 13, 2013 – (RealEstateRama) — “Since 2002, state and local property taxes have risen by 86%. Property taxes are regressive, disproportionately affecting middle-class Minnesotans, and are levied without taking into account a taxpayer’s income or ability to pay the tax. State and local leaders are working together to stop this decade-long trend.
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During the 2013 Legislative session, Gov. Mark Dayton and the legislature restored the state and local fiscal relationship by providing needed tools to lower property taxes. Together they increased in 2014 the Homestead Credit Refund and Renter’s Credit; eliminated the sales tax for cities and counties totaling $129 million; increased aid to cities, counties and townships by $130 million; and increased aid to schools.
Several examples of local governments reversing the trend on property taxes in 2014 include the City of Minneapolis and Dakota County. Both Minneapolis and Dakota County reported a reduction in their preliminary property tax levies for 2014. I applaud their efforts. I plan to work with other cities and counties as they use these new property tax tools as part of developing our important partnership.”
Contact: Ryan Brown
Ryan.brown (at) state.mn (dot) us
