The Free Press, Mankato, MN

Local News

May 7, 2008

News to use: Calculate your property tax

Click here to calculate your property tax under proposed House Democrat changes

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Ever-escalating property taxes are a major concern for Minnesotans and need to be addressed. The Minnesota House, Senate and governor agree on that, saying it’s hard to miss people’s frustration.



When it comes to tactics for tackling rising real estate taxes, however, the three sides are far apart and running short on time to find an agreement.



Above is a calculator to see how you would fair on the plan by House Democrats, compared to current law.



The tax plan was approved by the House late Monday night.

It would make major changes in the state’s property tax relief program.

It aims relief at people making less than $200,000 whose property taxes equal more than 2 percent of their income.



The Senate plan, passed a month ago, would pump $115 million into aid programs for cities, counties and townships in the belief the additional state aid will allow local units of government to rely less on property taxes.



The Senate also aimed direct property tax relief at senior citizens — freezing property taxes at current levels for seniors earning less than $40,000 if they’ve lived in their homes for 25 years or more.



Republican Gov. Tim Pawlenty has a very different approach than the Legislature, pushing for strict limits on how much cities and counties can raise property taxes. The levy limits would probably include some room for inflationary increases.



House, Senate and the governor have until May 19 to come to agreement.



A more complete story on this issue can be found in the Wednesday, May 7 print edition of The Free Press or it can be accessed by going to The Free Press e-edition.



Click here to access Free Press e-edition

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