Minnesota Property Taxes Static 01 Mar 14

Minnesota property taxes for this year are mostly static once refunds and credits are factored in, despite a highly publicized prediction that they would drop considerably. A Department of Revenue analysis released Friday shows a net $8-million drop in a property tax system that generates $8-billion a year. Minnesota homeowners and businesses will pay a total of $125-million more in 2014 than they did in 2013, but the $133-million in new property tax refunds and credits cancel out some increases for those who qualify. Last summer, Governor Dayton and other Democrats predicted tax savings of $121-million after lawmakers boosted allowances for schools and local governments, which take the biggest share of the property taxes people pay.