8/13/2019 TnT Common Questions

http://slidepdf.com/reader/full/tnt-common-questions 1/2

Truth In Taxation - Commonly Asked Questions prepared in part by the Ramsey County Assessor’s Office Pa e ! of "

Truth In Taxation - Commonly Asked Questions

Why are TnT notices sent out after the general election?

Minnesota Statutes require that the notices be mailed after November 10 but before November 24.

Why does the total shown for last year not match what I paid?

The proposed tax notice does not include amounts for special assessments and special service charges

that appeared on last ear!s tax statement. "f our propert had a contamination tax# it also does notinclude that amount.

What factors affect my property taxes?

There are a number of items that affect our propert taxes. The follo$ing are those that traditionallhave the largest impacts%

• &hanges to the tax lev 'amount of mone requested from propert taxes(made b the cit # count # school district or special taxing districts.

• &hanges to the mar)et value of our propert .• &hanges in the mar)et values for the area or a particular t pe of propert .• *egislative changes to the propert classification rates# state aid formulas and

other tax la$s.• *egislative unfunded mandates 'usuall seen as an increase in local

government tax lev (• Ne$ taxes approved b referendum.

Who determines your property tax?

There are three entities that have a role in determining our propert tax. The State *egislatureestablishes propert classes and class rates# determines levels of state aid to local units ofgovernment# sets the amount of homestead credit# sets the state general tax rate and mandatesunfunded programs to local government. *ocal units of government determine their tax lev amount.The count assessor assigns each propert a mar)et value and propert classification as provided b

state statute. The propert tax is the result of actions ta)en b all three entities.

What happens at the "Truth in Taxation" meetings?

The usual format of the meeting is a budget presentation b the taxing +urisdiction follo$ed b publiccomment and questions. The &it of *a)e ,ar)# the *a)e ,ar)- udubon School /istrict# and the&ount of ec)er $ill hold separate meetings on different dates as listed on the TNT Notice. The &itof *a)e ,ar) Truth-in-Taxation ,ublic earing is t picall on the first Monda in /ecember each ear.

8/13/2019 TnT Common Questions

http://slidepdf.com/reader/full/tnt-common-questions 2/2

Truth In Taxation - Commonly Asked Questions prepared in part by the Ramsey County Assessor’s Office Pa e " of "

If property values are increasing, does this mean more tax dollars forGovernmental units?

No. overnmental units must set a tax lev each ear. tax lev is the amount of mone that thelocal government $ants to collect from propert taxes. "ncreasing the tax lev is the onl $a that agovernmental unit $ill receive more propert tax dollars. "f a local government doesn3t increase itslev # propert o$ners ma still see increases in propert taxes for that local government if theirvalues are increasing faster than other propert $hile other propert o$ners are seeing tax decreases.

Why do some governmental units not hold a Truth in Taxation Meeting?

State statutes allo$ taxing +urisdictions meeting certain criteria# to be exempt from the requirement tohold a public TNT meeting. &ities $ith a population under 00 or a count # cit # school district ormetropolitan special taxing district that does not exceed its previous ear propert tax lev b morethan the percentage increase in the implicit price deflator '",/( are exempt from the TNT publichearing requirement. lso# special taxing districts# li)e housing and redevelopment authorities ' 5 s(#cit port authorities# hospital districts# regional rail authorities and $atersheds have al$a s beenexempt from holding a public TNT meeting.

Is it likely that the amount on my T T otice will !e different than the amount onmy tax statement?

6es# it is li)el the $ill differ. The Notice of ,roposed tax 'TNT( is an estimate. The ma differ foran of the follo$ing reasons%

• 5eferendums could pass# increasing our tax• ,ropert o$ners can file for homestead classification if the o$n and occup

their homes b /ecember 1.• Taxing +urisdictions can lo$er their tax lev• lthough not a tax# special assessments and other charges ma be billed on

the tax statement.

My school district held a referendum at the ovem!er general election if itpassed, is the increase reflected on this Truth in Taxation otice?

No. The notices are onl based on levies prior to the referendum election. The school district mailed allproperties a notice detailing the tax impact of the passage of the measure. 6ou need onl add theappropriate amount from the notice to the amount on the TNT notice to get our estimated taxes. nupdated notice $ill not be mailed. 5eferendums passed at the September primar election areincluded on the TNT notice.

Why are #pecial $ssessments and other charges or fees not shown on the Truth inTaxation otice?

Special assessments are not a part of the budget process as it relates to propert tax levies.