Truth in Taxation Meeting Information
The St. Louis Park Public Schools School Board held its annual Truth in Taxation Meeting on December 10, 2018. During its regular Business Meeting later that evening, the Board unanimously certified the 2018 levy for taxes payable in 2019.
Incoming Director of Business Services Patricia Magnuson presented at the meeting, which is designed to inform tax payers about the school district budget and the school district portion of their property taxes.
Magnuson explained that for 2019 there will be a modest 2% property tax levy increase on the school district portion of residents’ property tax statements. The increase is mainly due to three factors including the voter-approved technology levy from 2013, the voter-approved operating referendum from 2017, and the instructional lease for the current District Office space.
While the tax levy will increase by 2%, Magnusson stated that many property owners could potentially see a decrease in the school district portion of their property taxes in 2019.
“I wouldn’t be surprised if the tax bill for the school district went down for many of our property owners. The tax levy is only going up by 2% and the property value in St. Louis Park went up by over 8%, so our tax rate is going down,” she said.
Magnuson also broke the information down based on various property values. For example, a residential home valued at $150,000 should see the school district portion of their property taxes decrease by $6 from 2018 to 2019. Similarly, a $276,000 residential home (the median value in St. Louis Park) will see an $18 decrease. A $500,000 residential home will see a $44 decrease, while a $1 million commercial property will see a nearly $100 decrease.
Click here to view the PowerPoint presentation from the Truth in Taxation Meeting.