TRUTH IN TAXATION
At the December 3, 2018 School Board meeting, the School Board held its Truth in Taxation hearing. The recommended levy is $1,063,382.55 more than the 2017 payable 2018 property tax levy. This represents a 9.08% change in total school property taxes. The overall levy is higher than what was presented in September after the Minnesota Department of Education (MDE) had made all of their adjustments to the report and included the Pinewood Indoor Air Quality project.
In the presentation, there are a couple of residential property tax examples estimated by Ehlers, the District's financial advisors. If property values would have remained the same, residents would have seen a slight increase in their school district property taxes. When the District's total property value increases, the State shifts the funding where more revenue comes from property tax and less comes from State Aid. By using an average property value estimated increase of 15.8% over 4 years, Ehlers estimates some property tax increases.
The City, County, and School District's largest property tax payer, Xcel Nuclear Plant, received a large decrease in their property value that is also causing a shift of the burden to residents of Monticello.
2018 Payable 2019 Truth in Taxation Presentation
Questions about the Truth in Taxation hearing may be directed to Tina Burkholder at 763.272.2015.
Links to Previous Presentations:
2017 Payable 2018 Truth in Taxation Presentation
2016 Payable 2017 Truth in Taxation Presentation
2015 Payable 2016 Truth in Taxation Presentation
2014 Payable 2015 Trust in Taxation Presentation
2013 Payable 2014 Truth in Taxation Presentation
2012 Payable 2013 Truth in Taxation Presentation