Truth in Taxation
Understanding Your City Property Taxes
Even though you receive one property tax “bill,” you pay property taxes to several taxing authorities. The three largest taxing authorities shown on your statement are: Hennepin County, Minneapolis Public Schools, and the City of Minneapolis.
Why is my overall property tax bill changing at a different rate than the City’s levy change?
There are several factors that impact your property tax bill:
- Individual property value
- Value of other properties in the City
- Value of properties within Tax Increment Financing (TIF) districts
- Tax rate
- Homestead Market Value Exclusion
- Other jurisdictions’ tax increases
To learn more about the breakdown of an average property tax bill and other budget information, visit the truth in taxation web page on City of Minneapolis budget website.
Last updated Mar 30, 2018