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Ramsey County has spent the last few years tightening our budgets and enhancing transparency around our spending and budget processes. That effort, in combination with an influx of federal relief dollars, has helped us keep our property tax levy dependence lower than many of our neighboring counties during the last few years of COVID-impacted life. Loss of these other revenue sources is why our tax levy is proposed to increase 6.75% while our overall budget is only planned to increase by 3.48%.
While the state budget had a surplus, that surplus does not necessarily get passed onto local governments. Our state government made significant investments, focusing much of their spending on direct investment in people, rather than funding local governments. The state did increase its contribution to County Program Aid which helps counties buy down property tax levy burdens. The increase in Ramsey County's County Program Aid allocation helped reduce a potential property tax levy increase by 1.76%.
Property tax calculations are complex, involving tax valuations and assessments, real estate markets, and the impact of overlapping tax authorities. A proposed overall levy increase of 6.75% does NOT mean that your property taxes are going up 6.75%. Shifts in valuation, real estate markets, and new development can all independently raise or lower your property taxes without any changes in property tax levy amounts. Further, properties are subject to numerous local taxing districts, each with their own budgetary process and levy amount changes.
For example, the estimated percent change in 2024 property taxes for a median value home in Arden Hills in the Mounds View School district is an increase of 2.4% while the percent change on a median value home in North Oaks in the Mounds View School district is expected to be an 8.8% increase. These are estimates and do not include all local jurisdiction property tax levy changes. Your notice of estimated taxes and values will be emailed or mailed to you in mid to late November.
The budget process will continue over the next few months, culminating in budget approval scheduled for December 12. The public is invited to attend a public hearing on the budget on either September 19, at 4:30pm or an evening hearing later in November/December that will be announced soon. You can follow the budget process and updates on the Ramsey County website: https://www.ramseycounty.us/your-government/budget-finance.
If you'd like to learn more about property taxes, how they're determined and why they're used, I invite you to join me at an event I hope to host in late October. We will announce more when we have finalized event details. |
