TAX IMPACT CALCULATOR

  • As the November 2019 election approaches, use the online tax calculator provided below to determine the tax impact on a specific property value.

    tax calculator

    OR reference this Quick View Tax Impact Chart

CORRECTION - PLEASE READ

  • Correction on the "Just the Facts" mailer delivered on 10/18/19:
    In the Financial Impact section we described the financial impact on agricultural land in error in regards to questions 2 and 3 (it is accurate in regards to question 1). For questions 2 and 3, agricultural land beyond the house, garage, and one acre, and seasonal residential property, such as cabins, WILL BE taxed for their land and structures. Please visit the tax calculator and/or table which outlines all types of property and their proposed tax impacts on this website. Due to time constraints, this clarification has been posted on our website. With questions, please contact Superintendent Helgerson at mhelgerson@isd717.org or 952-492-6200.

AG2SCHOOOL TAX CREDIT INFO

AG2SCHOOL TAX CREDIT

  • ag2school
    In 2019, the legislature increased state funding to reduce taxes for agricultural property owners on existing and future school building bonds.

    Highlights:

    • For taxes payable in 2020, the credit reduces taxes for owners of agricultural property in an amount equivalent to 50% of the taxes attributable to school district debt service for all agricultural property, except for the house, garage, and one acre.
    • The State is phasing in an increase to the credit, it will be 55% for taxes payable in 2021, 60% for taxes payable in 2022, and for taxes payable 2023 and later the credit will be 70%. 
    • This credit is directly deducted from property taxes statements and is included in the tax impact estimates. 

    Learn More:

    • Operating Levy (Question 1) - Farmland owners pay the same as other homeowners. Taxes are based on the value of the dwelling, garage plus 1 acre and managed forestland.
    • Debt Service Levy - is the sum of all debt service levies divided by the Taxable Net Capacity of all property in the school district.
    • School Building Bonds (Questions 2 and 3) are different for farmland owners - the amount of the taxes paid is based on acres owned.
      • Tax Code/Legislative Changes have occured and began with Taxes Payable 2018 for ag land.
        • School Building Bond Ag2School Tax Credit applies to farmland (excluding the house, garage, and 1 acre and managed forestland)
          • State Funded reimbursement percentages (%s) have increased and will continue to increase as outlined in the bullet points below:
            • 40% in Taxes Payable 2018 and 2019
            • 50% in Taxes Payable 2020
            • 55% in Taxes Payable 2021
            • 60% in Taxes Payable 2022
            • 70% in Taxes Payable 2023 and thereafter
        • Agricultural property is exempt from most school levies, but not school building projects. In the past, this has left farmland owners picking up a substantial portion of building projects.
          • New Ag2School Tax Credit offers relief to farmers. This meant that for Taxes Payable 2018, the state will give the school district 40% of what farmland owners would otherwise be paying. School districts will see this in the form of State Aid for Debt Service.
          • For the next 5 years that percentage will increase to 70% by 2023 as shown in the bullet points above.
        • For FY2018-19, Jordan Public Schools received $137,500 in Ag2School Tax Credit through State Aid instead of Local Levy.

PROPERTY TAX REFUND AND RELIEF INFO

PROPERTY TAX REFUND AND RELIEF INFORMATION

  • NOTE:  The qualification criteria shown below are historical examples of these programs. Future criteria will be updated (by the MN Department of Revenue) annually by December 15th. Please use this as a reference and visit the website(s) or talk with your tax professional to see if you qualify for any of these programs.

    Minnesota has two property tax refund programs for homeowners: the regular Homestead Credit Refund and the special Homestead Credit Refund. You may qualify for either or both of these refunds depending on your income and property tax increase.

    Two Programs:
    Regular Homestead Credit Refund

    • You owned and lived in your home on January 2, 2019.
    • Your household income for 2018 was less than $113,150.

    Special Homestead Credit Refund

    • ​You owned and lived in the same home on January 2, 2018, and on January 2, 2019.
    • Your homestead’s net property tax increased by more than 12 percent from 2018 to 2019.
    • The net property tax increase was at least $100.
    • The increase was not due to improvements you made to the property.

      Note:  There is no income limit for the special refund. You may qualify for the special refund even if you do not qualify for the regular refund.
      Note:  Renters may also qualify for the Regular Homestead Credit Refund > https://www.revenue.state.mn.us/renters-property-tax-refund.

    LEARN MORE on the MN Department of Revenue website > https://www.revenue.state.mn.us/homeowners-homestead-credit-refund)

SENIOR CITIZENS' PROPERTY TAX DEFERRAL PROGRAM

  • Senior citizens who need help paying for their property taxes may qualify for the Senior Citizen Property Tax Deferral Program.

    To qualify, all of the following must be true:

    • You are 65 or older. If married, one of you is 65 or older and the other at least 62.
    • Your household income is $60,000 or less.
    • You have lived in, owned your home, and had it homesteaded for the last 15 years.
    • Other liens against your property are less than 75% of the estimated market value.
    • You do not have a reverse mortgage, a life estate, or any state or federal liens on your property.

    How does it work?

    • If you enroll, the amount of property tax you pay is limited to 3 percent of your total household income. This limit applies for as long as you participate in the program.
    • Minnesota temporarily pays any property tax above that amount on your behalf. This is a loan from the state to you, and you must repay the deferred property tax plus interest. Interest varies from year to year, and does not exceed 5%. We may take your individual tax refunds or other payments and apply them to this loan. For more information, see Revenue Recapture.

    LEARN MORE on the MN Department of Revenue website > https://www.revenue.state.mn.us/senior-citizens-property-tax-deferral-program