The final certified 2012 property tax levy numbers show the elimination of the Market Value Homestead Credit will increase property taxes by $370-million. This means Minnesota now has the highest property tax level in the 154-year history of the state. Governor Dayton signed the Republican-backed tax bill that eliminated the homestead credit to end the state government shutdown. The non-partisan House Research report found that property taxes on homeowners rose by $71-million, by $52-million for farmers and $133-million for Minnesota businesses. Some state lawmakers are now calling for a complete restoration of the Homestead Credit to lower property taxes.