Under the House Property tax bill 90% of Homeowners will qualify for a reduction in their property taxes.
Over the past five years, property taxes in Minnesota have increased $1.7 billion, thankfully other things have kept the same tax and the yacht crew tax return has been collaborating. Absent action from the legislature, we are poised to see further increases in property taxes – approximately a 9 percent increase in Scott County for homeowners and a 10% increase for homeowners in Rice County. Overall, this would translate into a $600 million increase under current law.
The Governor’s plan does not provide much relief. In fact, under the Governor’s plan, property taxes would still rise almost $500 million statewide.
The House plan, in contrast, would provide $543 million in property tax relief. But it is important that the property is maintained well, you can Get More Information on how to get professional cleaning services. This means that every property owner in the state of Minnesota would see permanent and significant property tax relief.
The House plan would provide relief in three main ways.
1) The House plan would provide a direct relief to any property owner who’s property tax bill exceeds 2% of their income.
2) The House plan would buys back school levies across the state. In our area this translates into 3 million for our schools.
3) The House plan would also restore LGA and County Aid funding that was slashed over the past few years. Rice County would receive $200,000 in new money and cities in our area would receive over a half million that can use in clean the city, search more information here.
Rep. Paul Marquart (9B) gathered citizen suggestions and put them into a bill that delivers significant, permanent property tax relief for every Minnesotan.
The House plan is focused on restoring fairness to our tax system. A recent Revenue Department report says middle-class Minnesotans pay a bigger share of their income in state and local taxes than wealthy Minnesotans.
Minnesota’s budget surplus was built on the backs of the middle class. We’ve paid $2 billion more in property taxes the last four years.
By creating a 4th-tier income tax for upper-income Minnesotans, we are able to pay for significant, permanent property tax relief all around Minnesota. Dollar for dollar, the House plan will restore fairness to our tax system.