REGIONAL - The St. Louis County Board of Commissioners gave approval to a proposed 2.93 percent property tax hike at its meeting on Tuesday, an increase that will be offset somewhat by growth in the county’s property tax base.
The proposed 2024 levy is projected to bring in $168,153,374, an amount spread across the county’s tax base. St. Louis County’s property tax base grew by an estimated 11 percent in the past year, including $237 million in new, mostly residential, construction. This growth will help reduce the impact of the increased levy on individual property owners. Homes that had little or no increase in valuation will likely see no increase, and could possibly have a reduction in property taxes.
Estimates provided by the county show that a home valued at $400,000 will see a decrease of approximately $200 in the county portion of its property taxes compared to a home valued at $400,000 this year. A home valued at $150,000 would see a $76.61 decrease. Meanwhile, commercial properties experienced less valuation growth overall this year, and will likely see minimal impact on their county property taxes.
Minnesota counties are required by law to set their maximum property tax levy by the end of September. As work continues to finalize the 2024 county budget over the next few months, the levy amount may be reduced, but it cannot increase. Commissioners are expected to vote on the final 2024 budget on Dec. 19.
“This levy reflects our continuous goal of minimizing property tax impacts while preserving or improving the services we provide for our citizens,” said County Administrator Kevin Gray.
The additional $4.7 million generated by the levy increase will go to support numerous county initiatives. $1.3 million will go to economic development, and $1.15 million will go to land and minerals support. $950,000 will be allocated for county facilities and equipment, while $786,000 will be used to defray costs associated with salaries, benefits, and inflation.
Two meetings have been set to collect public input on the levy and budget. They will be on Monday, Nov. 20, at the St. Louis County Courthouse in Virginia, and the following Monday, Nov. 27, at the St. Louis County Courthouse in Duluth. Both meetings will start at 7 p.m. The Nov. 27 meeting will also be livestreamed on the county’s Facebook page. People do not need a Facebook account to view the meeting.
Citizens also may provide input at any county board meeting, or by contacting commissioners directly. Contact information can be found at stlouiscountymn.gov/countyboard.