Dakota County’s share of property taxes could go down
Dakota County taxpayers could see a slight reduction in the county portion of their property taxes next year.
At its regular meeting last week, the Dakota County Board of Commissioners set a preliminary 2014 tax levy of $128,506,313, a .5 percent reduction from the approved 2013 levy of $129,152,073.
State law requires the county board to set a maximum proposed tax levy before Sept. 16. The proposed levy is the amount that will be used on all Truth in Taxation notices and parcel-specific tax statements. The 2014 levy, which will be adopted in December may not exceed the proposed levy.
For taxes payable in 2014, the county tax levy will be spread on a local tax base, which will be 2.9 percent higher than taxes payable this year. This would have the effect of lowering the county’s tax rate for 2014 if the tax levy (total collections) remains the same in 2013.
The net change in the county portion of the 2014 tax bill for individual properties depends on the combination of the county tax rate and the change in value for the given property. The impact of the preliminary levy on a median value home in Dakota County could be about a $9 reduction in the county’s share of property tax.
A median-valued home in Dakota County is $192,400.
The commissioners will hold budget workshop meetings the first week in November. A public hearing is scheduled for 6 p.m. Dec. 3, at the Administration Center in Hastings. Final adoption of the budget and levy is expected Dec. 17.