Laserfiche WebLink
VISIT THE CITY ON THESE FORMS OF SOCIAL MEDIA, BECOME <br /> <br /> A FRIEND OR JOIN <br />Page 4 <br />Property Tax Breakdown <br />1. Property value as determined <br />by the City/County Assessor to be what the proper- <br />ty would most likely sell for on the open market. <br />2. Homestead Market Value Exclusion <br />residential homesteads and to the house, garage, <br />and one acre of land on agricultural homesteads. <br />The exclusion is a maximum of $30,400 at $76,000 <br />of market value, and then decreases by nine percent <br />for value over $76,000. The exclusion phases out <br />for properties valued at $413,8900 or more. <br />3. Property value for the <br />tax year reduced by applicable limitations, exclu- <br />sions, exemptions and deferrals. <br />4. Property Class <br />tion that has been assigned to your property based <br />on its use. <br />5. PIN <br />6. M-1PR <br />types of property tax refunds. For more infor- <br />mation, go to the Minnesota Department of Reve- <br />nue Web site. <br />7. Other Credits <br />Preserve credit and the School Building Bond <br />Credit. The Agricultural Preserve credit is applied <br />to qualifying metropolitan properties in long-term <br />agricultural use. The School Building Bond Credit <br />is applied to all property classified as 2a <br />(agricultural land), 2b (rural vacant land), and 2c <br />(managed forest land), excluding the house, garage, <br />and surrounding 1 acre of land of an agricultural <br />homestead. The credit is 40% of the tax on the <br />property attributable to school district-bonded debt <br />levies. <br />8. County/Municipal Public Safety System <br />valorem tax first imposed in 2003 to improve tech- <br />nology County-wide in order to enhance public <br />safety. <br />9. Voter Approved Levies <br />referenda passed in specific taxing districts. <br />10. Other Local Levies <br />eting requirements in specific taxing districts. <br />11. Other Special Taxing Districts <br />ing and Redevelopment Authorities (HRA), Port <br />Authorities, hospital districts and water manage- <br />ment districts. Not all areas have each of these <br />districts. <br />12. Special Assessments <br />tion, etc. <br />13. Solid Waste Management Charge <br />our public health, land, air and water through waste-to-energy conversion, extensive recycling efforts, household hazardous waste collection, <br />yard waste composting, public information and waste reduction. <br />14. Contamination Tax <br />decontamination. <br />15. Proposed Property Tax <br />