Property tax levies for 2012 are proposed to increase by an average of 1.2 percent statewide

Saint Paul – November 23, 2011 – (RealEstateRama) — Property tax levies are proposed to increase an average of 1.2 percent statewide if proposed local tax levies are adopted by local governments later this year. Levy increases combined with the elimination of a state-paid homestead credit during the 2011 special legislative session will increase the amount of taxes paid by Minnesota taxpayers by an estimated 4.7 percent, or $379 million.