If you just received your 2025 property tax statement for your Hennepin County duplex, triplex or fourplex, you may wonder why your bill is 15.98% higher than last year’s, while its assessed value rose just 2.7%.
How’d this happen?
In December, the Hennepin County Board approved a 5.5% increase to property taxes to fund a $3.1 billion budget in 2025. Property taxes contribute about $1 billion to the budget, and the balance funded by state and federal governments.
This additional revenue was earmarked for salaries, uncompensated care and a parking ramp at HCMC, and the Blue Line light rail extension.
Of course, city tax increases and voter-approved levies also contribute to annual tax bills.
This year, the state approved a 7.7% budget increase for cities statewide. The legislature also approved a 4.3% increase for schools, and a 5.7% increase for special taxing districts. Special taxing districts are limited-purpose government entities formed to provide specific services or projects, such as fire protection or water management.
What recourse do housing providers have? If your duplex, triplex or fourplex is located in Minneapolis or anywhere else, sign up for my monthly Zoom call on Wednesday, April 9 at 5 pm. I’ll be visiting with City of Minneapolis Appraisal Supervisor Brian Messer, who will explain how assessed values are determined, and what you can do to dispute them.
To register, click HERE.