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Property Taxes Increase An Average 6.5 Percent

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Nov 20, 2008 6:46 am US/Central

Property Taxes Increase An Average 6.5 Percent

ST. PAUL (AP) ― Minnesotans are set to pay more property taxes next year if a number of proposed local tax levies are adopted.

The Minnesota Department of Revenue says property taxes could increase an average of 6.5 percent statewide, which is lower than last year's increase of 7.3 percent.

The department will hold "Truth-in-Taxation" hearings beginning next week to determine if the proposed levies go through or if some of them are reduced.

Under the proposed levies, local governments would generate about $476 million in 2009.

Minnesota Revenue Commissioner Ward Einess says the governor's 3.9 percent cap on levies in cities and counties with populations of more than 2,500 is helping slow the growth of property tax increases. There are some levies that are exempt from the cap.



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