[AURORA, MN] — Today, Representative Dave Lislegard (DFL-Aurora) and Senator Grant Hauschild (DFL-Hermantown) proposed a major package of property tax cuts for Iron Range residents. Their proposal would increase the Taconite Homestead Credit from an average of $289-$315 per homeowner to $515 per homeowner – a nearly 77% increase. The newly updated Taconite Homestead Credit would be ongoing each year, making the tax cut permanent.
The Taconite Homestead Credit applies to homeowners in the Taconite Relief Area. These districts include Nashwauk-Keewatin, Cook County, Greenway, Chisholm, Lake Superior, Ely, Hibbing, Mt. Iron-Buhl, St. Louis County, Mesabi East, and Rock Ridge.
“The Taconite Homestead Credit hasn’t been increased since 1998. Meanwhile, as families expect quality local services, valuations have largely shifted from commercial to residential property, so their property taxes continue to rise,” said Representative Lislegard. “It is far past time that we reduce property taxes for families in core Iron Range communities. Homeowners, seniors, and working families are all facing increased costs, and we have the opportunity to spread the benefits mining provides our communities by cutting property taxes for the very people who make up the backbone of the Iron Range.”
Senator Hauschild added, “With increasing property valuations and continuing demands for critical services in our communities, the property tax burden facing average families has become far too high. This is especially the case for those seniors on a fixed income trying to stay in their home. By increasing the Taconite Homestead Credit, we can provide relief to Iron Range families immediately and permanently.”
The bill is scheduled to receive a public hearing in the House Property Tax Division – which Rep. Lislegard chairs – on Wednesday. Rep. Lislegard intends to offer an amendment to increase the credit to $515 from the bill’s original amount of $415.
The Senate version of the bill was referred to the Senate Taxes Committee.