Worthington property taxes to increase 3.2 percent
December 15, 2010 at 3:31 pm in Worthington Daily Globe
WORTHINGTON The city of Worthington will increase its levy by 3.2 percent and collect $2,757,307 in property taxes next year, the Worthington City Council decided this week.
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They make it look like Fairmont is very high and Worthington is lower. However they do not tell you why and the law. Here it is:
In 2008, the State of Minnesota approved levy limits for municipal governments accompanied by a boost in Local Government Aid (LGA) funding. The limits are in place for cities with populations greater than 2,500 people from 2009-2011. Cities with populations under 2,500 are exempt from the levy limits.
The levy limit law calls for cities to limit their annual increase in revenue from their combined general tax levy and LGA appropriation to the lesser of 3.9% or the change in the implicit price deflator (IPD) for state and local governments. There are, however, mechanisms for revenue growth in excess of 3.9%, with allowable adjustments to account for household growth and taxable market value growth from construction of new commercial and industrial property within a city. These adjustments allow for additional revenue growth of one-half of the percentage increase in households and taxable market value from the construction of new commercial and industrial property.
Special levies, such as those that were voter approved, used to pay for natural disaster recovery and levies for debt, often represent costs over which municipalities have limited ability to control and are exempt from the levy limit law.
They could have only went to 3.9% at best. Don’t fool yourself on their City comparisons without the truth of the law. Convenient left out news or lack of research on the news.
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