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Calculating Minnesota's property tax is probably the most com- intend to provide for the upcoming year and -.x of any in the nation. Many officials and levels of compute the total dollars to be raised with government are involved in its administration, and property taxes. each parcel of property is taxed by multiple jurisdic- tions. No wonder it is confusing to most taxpayers! Step 4:Overlapping Government Budget Preparation As a general guideline, the following steps are taken to determine the tax on an individual piece of prop- All levels of local government also determine erty: their property tax requirements. These amount to additional taxes for each property Step l: Assess the Property owner. In Minnesota, property taxes are levied by counties, cities, townships, school The assessor establishes a value for the prop- districts, and special districts, which include erty. This is the assessor's estimate of the sell- metro government agencies, hospital boards, ing price of the property. Each spring, proper- watershed districts, transit authorities, park ty owners receive a "notice of valuation" in boards, and housing and redevelopment the mail for each piece of property they own. authorities. Step 2: Classify the Property Step 5: Local Tax Rate The use or ownership of the property deter- The local tax rate is computed by dividing the mines its "property tax classification". Each total dollars to be raised with property taxes class of property (i.e. home, apartment, cabin, (for all taxing jurisdictions) by the total tax- farm, or business) is taxed at a different per- able value of the property. centage of its value. This percentage is set by state law. The estimated market value of the Are you interested in learning more about the prop- property is multiplied by the appropriate per- erty tax system? The Minnesota Extension Service centage to determine the property's taxable has prepared a 4-part series entitled "Where Does value. the Money Go?" The series presents an overview of taxation in Minnesota and is intended for those citi- Step 3: City Budget Preparation zens who have no prior knowledge about our system During the second half of the year, city elect- of taxation. If you would like a free copy of this ed officials estimate the cost of services they series,please contact Ron Otkln at city hall. Board of Review How can you ensure Property." This brochure provides you with an scheduled to meet your property is correctly is available from the opportunity to question Monday, April 12th from assessed? Know the Minnesota Department of the City Assessor's esti- 9 - 11 A.Nl. and Monday, appeals procedures avail- Revenue (296-3781). mate of your property's May 3rd at 6:00 P.M. at able to you. These are Listed among the market value before an the Hugo City Hall. The outlined in a brochure various options is a three impartial board of local final schedule will be titled "What You Should step appeals process that elected officials. established at the end of Know About Appealing begins with the local The Hugo Board of January. 'lie Value of Your Board of Review. This Review is tentatively City of Hugo Newsletter Page 3