CORRECTION: News release: Preliminary Property Tax Levies for 2016

FOR IMMEDIATE RELEASE
November 12, 2015

Contact: Ryan Brown
Ryan.brown@state.mn.us                             

 Preliminary Property Tax Levies for 2016

ST. PAUL, Minn. – The Minnesota Department of Revenue annually releases a list of the preliminary maximum property tax levies that have been reported by local governments and have been passed by local school referenda on November 3, 2015.

The preliminary amounts are used by counties to compute parcel-specific property tax estimates for 2016, which are mailed to property owners in November in the form of Truth-in-Taxation notices. Truth-in-Taxation notices also list Truth-in-Taxation meeting times and locations for residents. These meetings, which take place between late November and late December, are an opportunity for Minnesotans to provide input to local leaders on their levies and on how they are proposing to spend tax dollars. These meetings are required for cities with populations over 500, counties, school districts, regional library authorities, and metropolitan taxing districts.

After input from citizens, local governments must set their final 2016 property tax levies by December 28, 2015. The final levies can be set lower, but not higher, than preliminary levies. The department will release final property tax levy information in February.

Cities - The 2016 preliminary property tax levies for cities will total approximately $2.142 billion compared with $2.036 billion in 2015, a 5.2% increase.

Counties - The 2016 preliminary property tax levies for counties will total approximately $2.915 billion compared with $2.810 billion in 2015, a 3.7% increase.

Townships - The 2016 preliminary property tax levies for townships will total approximately $245 million compared with $239 million in 2015, a 2.4% increase.

Schools - The 2016 preliminary property tax levies for schools will total approximately $2.657 billion compared with $2.471 billion in 2015, a 7.5% increase. School preliminary levies increased $186 million. About half, $92.6 million was approved by voters in new and renewed referenda.

Special Taxing Districts - The 2016 preliminary property tax levies for special taxing districts will total approximately $353 million compared with $334 million in 2015, a 5.6% increase.

Truth-in-Taxation notices do not include the results of levy referenda for operations or capital projects by 73 of Minnesota’s school districts. The results of these referenda are included in the summarized data. Statewide, 61 of the 73 referenda at least partially passed.

The preliminary property tax levy information for local governments and schools is available on the Department of Revenue Property Tax Reports and Data website.

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