Accessibility menu
State Representative Tim Faust
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-0518
For more information contact: Chris Shields 651-296-8873
NEWS COLUMN
AS SESSION ENTERS FINAL PHASE, LET'S DELIVER ON TAX FAIRNESS
I ran on three main issues. The first was more equitable school funding and the House passed a bill that gives the schools in our area larger than average increases in state funding. Second was more affordable health care, and the House delivered by covering all kids and implementing other cost savings ideas. Third were property tax reductions, and last Friday the House delivered on that.
When I was campaigning, many people talked about their property taxes increasing; some to the point of forcing them out of their homes. As we all know, the property tax is a regressive tax, because it doesn't consider a person's ability to pay. The House property tax bill would change that. A new Homestead Credit State Refund in the bill would provide more than $223 million in direct property relief to Minnesotans. Under the credit, any Minnesota homeowner whose property tax bill is more than 2 percent of their income would receive a credit on a portion of the income over 2 percent based on their income. For example, if your income is $40,000 a year, your home is worth $164,100, and your property tax bill is $1,557, you would get a $286 direct refund and a $365 credit on your state income taxes.
The bill also restores aid to cities, counties, and school districts when combined with our education bill to further lower property taxes. The three counties I represent would get increases in county aid of more than $700,000 combined. Local government aid to cities would increase in our area by $360,443. This is important aid that can be used instead of property taxes to fund vital services such as law enforcement and fire protection. The school districts in our area will also get a combined property tax buy down of $1.1 million.
The House property tax relief bill is good for our state and very, very good for our local area, which is why I voted for it. The bill provides significant and permanent property tax relief to nearly every Minnesotan, no matter whether they are a homeowner, farmer, renter, or small businessperson. As the bill heads to a conference committee with the Senate, I'm hopeful that it will survive that process and head to the Governor's desk. Should the Governor see this bill, he'll have a choice to make. Does he really want to side with his multi-millionaire supporters and saddle Minnesotans with half a billion dollars in property tax increases on top of more than $2 billion over the last four years? Or does he want to deliver property tax cuts that will be good for all Minnesotans? We're ready with the bill; I hope he's ready to sign it.
-30-
News Items
- Kyle Herman Bill Signed into Law - (Posted: 2010-04-28 00:00:00)
- To Students, Teachers, and Parents: Have a great year - (Posted: 2009-09-14 00:00:00)
- LEGISLATIVE SESSION CONCLUDES - (Posted: 2009-05-19 00:00:00)
- Archived News Items
- Subscribe to RSS News Feeds
- Read more about RSS.