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ExecutiveSummary:StudyoftheMetropolitanAreaFiscalDisparitiesProgram <br />FortheMinnesotaDepartmentofRevenue <br />Figure22.ResidentialHomesteadPropertyTaxBurdenbyRegionalDevelopmentClassification <br />(2008) <br />NumberofHomesteadBurden*HomesteadBurden* <br />CurrentLawNoFD <br />Homesteads(2008) <br />CentralCities130,1103.95%4.11% <br />DevelopedArea329,0393.34%3.40% <br />DevelopingArea218,9333.27%3.33% <br />RuralAreas40,7263.28%3.44% <br />RuralGrowthCenters13,3953.43%3.72% <br />ExcludedfromFD1,9043.53%3.57% <br />*TaxesPayable2008(latestdataavailableforHomesteadBurdenanalysis). <br />Source:MNDept.ofRevenue <br />Mediantaxespaidbyresidentialhomesteadpropertiesgroupedbyregionaldevelopmentclassifications <br />asapercentofincomewouldincreaseforallgroupsiftheFiscalDisparitiesprogramwereeliminated. <br />RuralGrowthCenters,RuralAreas,andCentralCitieswouldseethelargestincreasesinhomestead <br />burden. <br />Finally,thedataisgroupedbyFiscalDisparitiesstatus(netconributorornetrecipientin2011).Results <br />t <br />areshownbelow. <br />Figure23.ResidentialHomesteadPropertyTaxBurdenbyFiscalDisparitiesStatus(2008) <br />NumberofHomesteadBurden*HomesteadBurden* <br />CurrentLawNoFD <br />Homesteads(2008) <br />Contributor**364,1943.37%3.37% <br />Recipient**368,0093.44%3.62% <br />n/a1,9043.53%3.57% <br />*TaxesPayable2008(latestdataavailableforHomesteadBurdenanalysis). <br />**Statusfortaxespayable2011 <br />Source:MNDept.ofRevenue <br />Homesteadburdenwouldstaythesameincontributorcommunitiesat3.37percentofincome. <br />Residentialhomesteadpropertytaxesinrecipientcommunitieswouldincreasethepercentageof <br />incomespentontaxesfrom3.44percentto3.62percent.Whatisalsointerestingtonoteisthenumber <br />ofhomesteadpropertiesineachcategory,whichisalmostevenlysplitbetweencontributorsand <br />recipients(in2011). <br />24 <br /> <br />