The proposed property tax levies for local governments in 2024 are slated to witness a 7.3% increase, with cities facing an 8.4% rise. On November 16, the Minnesota Department of Revenue released the preliminary property tax levy list for cities, counties, school districts, townships, and special taxing districts, outlining the maximum permissible levies for the upcoming year.

Breakdown of Proposed Property Tax Levies

Cities — The 2024 preliminary property tax levies for cities are projected to amount to approximately $3.462 billion, reflecting an 8.4% increase from the final levy of $3.194 billion in 2023. In the previous year, the 2023 preliminary city levies initially suggested a rise of 9.1% in November 2022, with a final levy increase of 8.4% announced in February 2023.

Counties — The 2024 preliminary property tax levies for counties are expected to total approximately $3.981 billion, indicating a 6% increase from the final levy of $3.757 billion in 2023.

Townships — The 2024 preliminary property tax levies for townships are anticipated to be around $314 million, showcasing a 6.8% increase from the final levy of $294 million in 2023.

Schools — The 2024 preliminary property tax levies for schools are projected to reach approximately $4.036 billion, signifying a 9% increase from the final levy of $3.702 billion in 2023.

Special Taxing Districts — The 2024 preliminary property tax levies for special taxing districts are expected to be about $494 million, demonstrating a 7.8% increase from the final levy of $459 million in 2023.

Background on Property Tax Levies

The Department of Revenue traditionally releases preliminary property tax levies every November, with final levy data following in February. Truth-in-taxation hearings, scheduled for November and December, may result in lower final levies for individual jurisdictions. While levies have the potential to decrease after truth-in-taxation hearings, they cannot increase. Final levies for 2024 must be established by December 28. Notably, last year’s absolute statewide local government levy increase was 0.6% lower than the preliminary increase.

Comprehensive Data on Local Taxing Jurisdictions

For detailed information on property tax levies for each local taxing jurisdiction, the Department of Revenue website provides comprehensive data.