Floor debate of the 2012 tax bill and the governor’s subsequent veto letter …
… provided clear evidence that property taxation will be a major issue in both the November elections and 2013 tax reform proposals.
A Blueprint for Property Tax Understanding
To address this concern, NAIOP Minnesota and MTA have been working to develop an analytical tool that would provide greater understanding of why property taxes change using the information generated through expenditure type reporting. The tool is based on four key concepts:
- A presentation of the local property tax levy as the “revenue of last resort”
- Historical information to evaluate trends
- Spending information by expenditure type as well as program area
- Isolating the distributional impacts on property tax bills
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