Report: Expect Higher Property Taxes Next Year
MINNEAPOLIS (WCCO) — Everyone can expect to pay more in property taxes next year, according to a new report by the non-profit think tank Minnesota 2020.
The report finds the average homeowner will see an increase of about 4.6 percent next year. Rental properties will go up about 7 percent.
The public policy group’s founder, Matt Entenza, said their findings are based on non-partisan data from the state legislature.
“The impact is hardest hit in communities like Brooklyn Center and Fridley and Columbia Heights and others that are post-war communities that have homes that are of slightly lower values and don’t have big, commercially-industrial bases,” Entenza said.
Entenza said communities are forced to raise taxes, not just because local aid has been reduced, but also because the homestead credit has been cut.