Most property taxes set to increase in 2024

Every individual property tax bill is unique to each property, and the final amount is based on the property's fair market value, classification, and other factors.

property taxes
In 2024, Minnesotans from all over the state will likely see an increase in the property taxes levied by their counties, cities, and school districts. (Adobe Stock)

In 2024, Minnesotans from all over the state will likely see an increase in the property taxes levied by their counties, cities, and school districts.

Last month, the Minnesota Department of Revenue published a spreadsheet that contains preliminary budget information for every county, city, and school district in Minnesota. That spreadsheet shows most jurisdictions are proposing increases to the amount of property taxes they collect in the coming year.

Collectively, cities are proposing an 8.4% increase, counties a 6% increase, and schools a 9% increase, the Department of Revenue said.

According to the preliminary data, Ramsey County may collect up to 6.75% more in property taxes than it did in 2023.

Jurisdictions may seek to increase property taxes for a variety of reasons. For instance, officials in Hennepin County proposed a 6.5% raise in their property tax levy with the goal of funding pay raises for county workers and hiring 400 new employees.

According to the Minnesota Department of Revenue, every jurisdiction must approve all final levies by Dec. 28, 2023.

As such, cities, counties, and school districts across Minnesota are hosting “Truth in Taxation” meetings for local residents before the Dec. 28 deadline. Jurisdictions are required to organize these meetings and allow residents to ask questions, voice their opinions, or object to property taxes levied by their local elected officials.

In Anoka County, commissioners initially planned to raise the county property tax levy by 15.44%. The county scheduled a Truth in Taxation meeting for Nov. 30 to allow the public to express their thoughts. On Dec. 1, Anoka County commissioners amended that amount and adopted a final property tax levy increase of 10.4%.

When Minnesotans pay their property taxes, their city, county, and school district tax sums are all lumped together in one property tax bill.

As such, residents of Plymouth, for example, could find themselves paying for the county’s 6.5% tax levy increase, the city’s 7.52% increase, and the school district’s 4.87% increase if all of those proposed increases are finalized and approved.

Furthermore, property tax dollars are allocated to different things in different jurisdictions. For residents of Brooklyn Park, 41% of every property tax dollar goes to the city; 33% goes to the county; 19% goes to the school district; and the remaining goes to other districts.

In Minnetonka, only one fourth of an individual’s property tax bill goes to the city. The remaining amount is split up between the school district, county, and “other jurisdictions.”

Some jurisdictions have already hosted their “Truth in Taxation” meeting and set their final property tax levy for 2024. If you are looking for more information regarding your property taxes, contact your county, city, or school district.

Every individual property tax bill is unique to each property, and the final amount is based on the property’s fair market value, classification, etc.

 

Luke Sprinkel

Luke Sprinkel previously worked as a Legislative Assistant at the Minnesota House of Representatives. He grew up as a Missionary Kid (MK) living in England, Thailand, Tanzania, and the Middle East. Luke graduated from Regent University in 2018.