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Analysis: Aid, Credits Keeping Property Taxes Down

Created: 07/16/2014 7:12 AM KAALtv.com

ST. PAUL, Minn. (AP) - Minnesotans who qualify for state aid and credits could see their property taxes decline by a total of $49 million this year.
    
But taxpayers who own agricultural land, public utility and commercial property could see their taxes increase.
    
That's according to a new report from the nonpartisan legislative office which shows that without the aid and credits, taxes would have risen $124 million. The analysis says homeowners could see some of the largest reductions in property taxes, which could drop by about 5 percent compared to last year, or $171 million.
    
Research analyst Steve Hinze tells the Star Tribune the figures for the aid and credits are estimates based on how many Minnesotans apply for tax relief. The tax rates are a combination of local government, schools and state levies, which can vary widely in individual communities.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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