What Will it Cost Me?

What will it cost me?

$11 per monthIf both questions are approved, owners of an average $235,000 home will see a property tax increase of less than $11 per month.

•The proposed operating levy increase would amount to an additional $78 annually ($6.50 monthly) on a $235,000 residence, which is the average district home value.

•The capital projects levy would add $50 annually ($4.17 monthly) on the same residence for a total monthly impact of $10.67.

To find the tax impact on your home, use the tax calculator.

Some examples of tax impact can be found in the chart below.

Tax Impact Chart

You May Be Eligible for Tax Relief

·       Owners of homesteaded property with incomes under $108,660 may be eligible for the MN Property Tax Refund or "Circuit Breaker."

·        A new property tax credit will provide owners of agricultural property with a 40% credit for the taxes attributable to school district debt service.

·        The “Targeted Homeowners Property Tax Refund” can be applied to all homesteaded properties that experience a net property tax increase of 12 percent or $100 over the prior year.

·        Senior citizens may be able to defer a portion of your property taxes.

·        Determine your eligibility at www.taxes.state.mn.us.

Tax Calculator

A tax calculator and more information can be found at http://www.ehlers-inc.com/custom/taxinformation/InverGroveHeights