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FOR
IMMEDIATE RELEASE
Contact: Carolyn Marinan, Communications, 612-910-9111
On Tuesday, Hennepin County Administrator David Hough proposed a 2024 budget of $2.64 billion to the Hennepin County Board. The proposed net property tax levy is $991.3 million – an increase of 6.5% from 2023.
The operating portion of this budget totals $2.3 billion, a decrease of 1.45% or $34.0 million dollars from the adjusted 2023 budget. The capital portion totals $343 million, which is $118 million less than the 2023 adjusted capital budget.
Property tax covers approximately 36% of the overall county budget. Federal and state sources, fees and services, and other revenues fund the remainder of the budget.
“While we invest in our future, we must also confront the fiscal realities of today,” said Hough. “Our strategy is to focus our investments on innovative, sustainable programs that are less costly and provide better outcomes.”
Hough’s proposed budget focuses on disparity reduction and climate action across all lines of county business. It invests in programs and services that aim to improve long-term outcomes for residents in the areas of education, employment, health, housing, income, justice, and connectivity. It also reflects significant investment in Hennepin County employees. Of the overall $60.5 million increase in the property tax levy, over $58 million is employee centered.
“A major driver in the levy increase is investment in our employees.” said Hough. “From across-the-board salary increases, benefits such as tuition reimbursement, life insurance, disability, pension, and a commitment to cover approximately 90 percent of employee and dependent healthcare costs, this budget is a testament to how we value and support our employees.”
Budget hearing schedule
The Hennepin County Board will set its maximum tax levy at its September 19 meeting, which will be followed by a series of budget hearings before a final budget is adopted in December.
View the budget and schedule of budget hearings at hennepin.us/budgets.
Property values
Property tax valuations impact the property tax portion of the budget. The Hennepin County Assessor's Office assesses your property and estimates the value it would likely sell for on the open market, which is one factor used in determining your property tax. Other factors include property tax levies set by the school districts, city, county or special taxing districts that the property is in.
Find out more about property taxes.
Look for more news on the Hennepin County website at hennepin.us/news.
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