Officials Brace for Reaction to Property Tax Statements
UNDATED – Stearns County officials are mailing-out property tax statements to homeowners this week, and they’re warning you that you most likely will be shocked by what you see.
The Truth-in-Taxation property tax statements will be higher than normal for most homeowners, but county officials say “don’t blame them”. The State Legislature passed, and the Governor signed, a bill this summer during the special session that replaced the Homestead Market Value Credit with the Homestead Market Value Exclusion.
The change was made in an effort to balance the state budget and end the state government shutdown. The change resulted in the elimination of $8.7 million in property tax relief for Stearns County taxpayers – money that will now have to be paid by property owners. All other counties have same situation too.
Minnesota House research shows on average taxes will go up 4.7% across the state.
Meanwhile, Republican State Representative King Banaian of St. Cloud says there are multiple reasons why your property taxes are going up, and you can’t just blame the state legislature.
Banaian says there has been talk already to go back to the old Homestead Market Value Credit, when the State Legislature reconvenes in January. But he says the money to balance the state budget has to come from somewhere.
Stearns County website