High Quality
Open the downloaded document, and select print from the file menu (PDF reader required).
County Option Revenue Reform Initiative
Representative Paul Marquart
Monday, March 23, 2009
Highlights of County Option Revenue
Reform
Initiative
2
•
Gives counties a new option to raise revenue to protectproperty taxpayers, save jobs, and provide essentialservices.
•
Helps solve the state’s budget problems into the future.
•
Provides counties with a more stable source of revenue than statefunded County Program Aid.
•
Reforms and strengthens the state and local fiscal relationship.
•
Moves toward elimination of inequities caused by individual city localsales taxes.
Property Tax Burdens are Increasing
3
In 2010, the property tax is projected to surpass the income taxas the number one revenue source in Minnesota for the first timein over a decade.
Under the Governor’s proposal, local property taxes will increase626 million over the next three ears.
Since 2002 property taxes have increased 67 % ( $3.1 billion)statewide and 86 % on homeowners.
Under this initiative, roughly 50 % of new revenues would go toeliminate the property tax increases that would occur under theGovernor’s proposal.
Add a Comment