Olmsted County Board to Hold Truth in Taxation Hearing
Rochester, MN (KROC AM News) - The Olmsted County Board is scheduled to hold its required Truth in Taxation meeting Thursday - which gives taxpayers a chance to talk about their property taxes.
The board has set the maximum property tax levy for its 2017 budget at $92-million. That’s $2.3-million or 2.5% higher than the 2016 levy. The board was told the number is comparable to the amount of new property added this year so it appears many 2017 tax bills won’t see any increase in the county portion of the taxes.
The hearing is scheduled to begin at 7 p.m. in the Government Center boardroom.
The board will set the formal levy when it adopts the 2017 budget Dec 13th.
The Minnesota Dept of Revenue has released its annual roundup of the preliminary maximum property tax levies reported by all local government units. The list also includes local school referenda that were approved on Election Day.
Here is the department’s summary:
For 2017, preliminary property taxes statewide will total $344.3 million, a 3.8% increase. Last year, preliminary statewide property taxes totaled $433.1 million, a 5.0% increase, and last year’s final levy increase was 4.5% ($397 million).
Cities - The 2017 preliminary property tax levies for cities will total approximately $2.261 billion compared with $2.129 billion in 2016, a 6.2% increase.
Counties - The 2017 preliminary property tax levies for counties will total approximately $3.03 billion compared with $2.906 billion in 2016, a 4.2% increase.
Townships - The 2017 preliminary property tax levies for townships will total approximately $248 million compared with $243 million in 2016, a 2% increase.
Schools - The 2017 preliminary property tax levies for schools will total approximately $2.716 billion compared with $2.643 billion in 2016, a 2.8% increase.
Special Taxing Districts - The 2017 preliminary property tax levies for special taxing districts will total approximately $364 million compared with $352 million in 2016, a 3.6% increase.
Truth-in-Taxation notices do not include the results of levy referenda for operations or capital projects by 40 of Minnesota’s school districts. The results of these referenda are included in the summarized data. Statewide, 26 of the 40 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.