DEPARTMENT: Budget
FILE TYPE: Regular Action
TITLE
title
Adoption Of 2023 Certified Dakota County Maximum Proposed Property Tax Levy
end
PURPOSE/ACTION REQUESTED
Adopt a maximum proposed 2023 property tax levy of $147,361,306 for Dakota County.
SUMMARY
As part of the 2023 budget process, the County Board is required by State statute to adopt a resolution setting the maximum proposed property tax levy on or before September 30, 2022. The proposed levy is the amount that will be used on all Truth in Taxation (TNT) notices. The 2023 levy to be adopted in December may not exceed the proposed levy amount except in a few narrow instances specified by Minn. Stat. ? 275.065.
For taxes payable in 2023, the County tax levy will be spread on local tax capacity, which will be approximately 18.74 percent higher than for taxes payable in 2022. If the tax levy grows at any rate lower than 18.74 percent for 2023, the County tax rate will decrease. The net change in the County portion of the 2023 tax bill for individual properties depends on the combination of the County tax rate and the change in value for a given property.
State requirements for public budget and levy hearings for 2023 are that, in lieu of the formerly mandated TNT hearing, counties are required to hold a meeting at which the budget and levy will be discussed, and the public is allowed to speak. The meeting will be held on November 29, 2022, at 6:00 p.m.
After adoption of the 2023 maximum proposed property tax levy, the budget schedule continues as follows:
November 15 County manager presents the recommended budget
Nov 14, 15 and 17 County Board budget workshops
November 29 Budget/Levy (Truth in Taxation) public hearing
December 13 Adoption of the 2023 budget and property tax levy
On August 23, 2022, staff presented information at a County Board Budget Workshop regarding 2023 budget planning, including expected changes in revenue and expenditures, key assumptions, and preliminary levy plann...
Click here for full text