2012 Proposed Property Tax Statements Have Been Mailed

Last week, Hennepin County mailed 2012 proposed property tax statements to all property owners. While these statements show the total proposed tax for each property, City taxes make up just one portion. To understand the City portion of your overall proposed tax levy, find the line on the statement that says “City of Golden Valley.”

Golden Valley’s 2012 tax levy of $16,409,450 is a 0% increase from 2011. However, due to the shift caused by the state legislature’s repeal of market value homestead credit (MVHC) and establishment of the new Homestead Market Value Exclusion (HMVE), many properties will see a larger increase in taxes compared to last year.

Minnesota Public Radio has produced an informational video to help you better understand the HMVE.

One of the City’s primary goals is continuing quality services for its taxpayers. Golden Valley’s responsible, long-term perspective to financial planning and management is evaluated each year, starting with budget planning in March and concluding in December, when the City Council adopts the budget and certifies the final property tax figure.

This entry posted in | City Budget | Finance Department