|
Minneapolis Property Taxes |
“We must not let our rulers load us with perpetual debt.”
Thomas Jefferson
| | |
Rybak vows to stop property tax increases! |
| |
|
The mayor has publicly promised to do all he can to stop property tax increases and possibley reduce taxes starting in 2012. But he needs our support and here is what ALL Minneapolis homeowners have to do:
- Contact Minneapolis city council members and tell them we oppose raising property taxes.
- Attend Minneapolis city council budget hearings. Speak your mind.
- Attend Hennepin County Truth-in-Taxation hearing. Speak your mind.
- Attend Minneapolis Truth-in-Taxation hearing. Speak your mind.
|
Click to see large view |
|
What will be your Minneapolis 2012 property taxes? |
Mayor Rybak has submitted a budget with no increases to property taxes for 2012. It is up to the city council to approve the budget making whatever changes they see fit.
Because of changes in the Market Value Credit program by the state legislator some homeowners will see an increase in their 2012 taxes. The city has prepared information that allows homeowners to estimate the property taxes. The information is found in the Financial Overview section. The entire 2012 city budget is here.
In short depending on the assessed Market Value (the Assessed Market Value notice was mailed to you in January 2011), then:
- If your market value is the same as 2010 then your taxes will go up about 5%
- If your market value is down 5% from 2010 then your taxes will stay the same or go down about 2%
- If your market value is down 10% from 2010 then your taxes will go down about 8%
|
|
| |
2012 Property Tax Changes by Location
 |
|
Minneapolis Property Taxes in the News |
| See news about property taxes in Minneapolis |
|
Property Tax Appeal Process |
| The property tax appeal process explained in detail at
www.minneapolispropertytax.com
|
|
Property Tax Burden Edina |
“While it may be too early to know exactly what this Voss Database information is telling us, there is one thing I do know: The City of Edina’s property tax in 2010 on a $400,000 home was $943. In Minneapolis, the City’s property tax for a $400,000 home was $2,436. In Worthington, it was $1,994. In Two Harbors, it was $2,428. In Moorhead, it was $1,350.”
“There are many ways to measure tax burden, but only one way to measure a tax bill — look at the actual amount of tax paid by the property tax payer. Edina property tax payers pay a lower relative amount of property taxes compared to other cities — and it’s unsubsidized by Local Government Aid from the State. What’s going to happen in Worthington, Two Harbors, Moorhead and Minneapolis when their Local Government Aid from the State dries up and their property tax payers have to start paying the full cost of their city government’s operations? I don’t know, but it’s not going to be pretty, that’s for sure.”
|
|
(Note: the tax numbers are for City portion only (no school district, county, etc.). My research shows typically a 30% difference in property taxes between Edina and Minneapolis based on different EMVs (Estimated Market Value). For 2010 property taxes:)
|
| City | $200,000 | $400,000 | $1,000,000 | $2,000,000 |
|---|
| Minneapolis | $2,725 | $5,822 | $16,175 | $33,941 |
| Edina | $2,082 | $4,537 | $12,557 | $26,298 |
| Differences | $643 | $1,285 | $3,618 | $7,643 |
| Percentages | 30.9% | 28.3% | 28.8% | 29.1% |
|
|
| David Sadler, Founder & Webmaster of Minnesotans for a Fair Property Tax |
|
Minneapolis Truth-in-Taxation Hearing, City Hall, December 13, 2010
“As a result, many, many homeowners are now in jeopardy of loosing their houses. They simply cannot afford these huge increases. The outcome is no different than the outcome of a foreclosure - you loose your house!”
|
|
| |
Slide 31 Mayor's 2010 Recommended Budget Presentation to the Board of Estimate and Taxation; Patrick Born, Minneapolis Chief Financial Officer. (The entire 2010 budget presentation can be seen by clicking here. The 2010 budget update information is here.
“High taxes are putting Minneapolis at risk of losing its middle class — and that risk will intensify if the BET does not more effectively stand up for taxpayers’ interests.” ( StarTribune Editorial, November 4, 2009)
|
What can you do?Click here for recommendations.
|
|
 |
|
 "Click to see large view.")
