Responsible, progressive fiscal policy creates state and community prosperity.
This week, Minnesota 2020 released a report showing the impact of the 2013 tax bill on property taxes. Because of the historic homestead credit refund, most Minnesotans saw their property taxes decrease substantially. This credit successfully targeted tax credits to the people with the lowest ability to pay, making our state's tax system less regressive and more equitable for Minnesota homeowners. Here's our video coverage of the press conference at the Capitol, which was followed by a statewide media tour including Rochester. Duluth, Bemidji, Moorhead, Fergus Falls, St. Cloud, and…
In 2014, Minnesota homeowners will experience the largest property tax reduction in twelve years and will begin to benefit from the most significant reform of homestead taxation in at least three decades.
The final property tax after refunds paid by the typical homeowner with a median income residing in a median value home will decline by over ten percent from 2013 to 2014 in the majority of Minnesota communities. This comes as welcome news to homeowners, who experienced rapidly escalating property taxes over the preceding decade.