> Nancy Alcorn asks: > > I just got my proposed property tax statement for 2002. I was quite > surprised to see that they were reduced only about 12%, because I was > expecting them to be about 25% less. Now I am wondering if the > tax cut only > applied to the amount that the school tax portion was to be reduced? Or > possibly only the amount over $76,000 (I think that is the base > number) was > to be reduced by 25%? Or, if 25% is indeed the right number?
<snip> > > Can anyone enlighten me as to what the average tax cut percentage was > supposed to be, and how it was to be applied? There is a publication "New Laws" on the Legislature's web site (warning, its a 161 page pdf file) http://www.house.leg.state.mn.us/hinfo/NL01.pdf The publication says there is an _average_ reduction on homes of 25% which is due to the general education levy going away. It looks like some of the levy from referendums also goes away. Above $76,000 is an amount of the value of your home which is taxed at a higher rate. You now get the lower rate at a value of upto $500,000 (not sure if there are any $500,000 homes in Prospect Park) so it looks to me that the owner of a $76,000 home will not save as much as the owner of a $150,000 home as the owner of the $76,000 home was already getting the lower rate on the entire value of their home. Unfortunately the piece on the tax change (it starts on page 70 or 71) doesn't go into much detail. Terrell Brown Loring Park _______________________________________ Minneapolis Issues Forum - A Civil City Civic Discussion - Mn E-Democracy Post messages to: [EMAIL PROTECTED] Subscribe, Unsubscribe, Digest option, and more: http://e-democracy.org/mpls
