But preliminary property bills could change after city councils set budgets.
It’s the season when estimated property tax bills for 2020 show up in the mail, and the numbers could be eye-opening for some Minnesota homeowners.
In St. Paul, the preliminary bills are calculated using the 22% maximum tax levy hike that the City Council approved in September as a way to pay for organized trash collection if voters threw out the current quarterly billing system. Since St. Paul overwhelmingly voted to stick with the system, the actual levy increase will probably be under 6% when the council approves it in December, said Council President Amy Brendmoen.
“I can all but guarantee that everybody’s preliminary property tax statement is higher than what they will see when their actual property tax statement comes next year,” she said.
In Minneapolis, the nearly 7% levy hike is unlikely to change much when City Council members approve the budget next month. And in suburban communities, rapid growth means big levy increases won’t necessarily show up on residents’ tax statements.
The levy is the amount of money that governments collect in property taxes, not the amount that individual property owners pay. That can vary widely depending on the property’s assessed value.
Read emtire article HERE.
"Minnesota homeowners get an early peek at property tax bills"; By Emma Nelson, Liz Navratil and Eric Roper; Star Tribune; November 16, 2019