County officials have calculated potential property-tax bills for homes of median value in more than 80 metro-area communities (with at least 5,000 residents). For each community, the figures reflect the property-value changes determined by assessors earlier this year, as well as the tax-levy proposals now under discussion by local governments. For 2011 and 2012 median values, the Star Tribune asked counties to take into account the homestead market value exclusion (which is required to calculate taxes but also has the effect of making market values appear to be less than they actually are).
Every county but Dakota County provided figures reflecting those changes. Dakota County’s figures show median values before the exclusion was applied, but the county’s projected 2013 property tax bills do take into account the exclusion. In Hennepin County, the median-value increases in Rogers are likely a result of the city taking in property formerly in Hassan Township, thus changing the sample size.
Separate calculations were made for cities whose boundaries include more than one school district. The figures, based on proposed maximum levies set in September, do not include local tax increases approved by voters in November. Local jurisdictions take final action on their tax plans in December, following public hearings that are required as part of the Truth in Taxation process.