From the League of Minnesota Cities
Due to changes the state enacted this year, your residents may ask a lot of questions about their 2012 property taxes. The League has produced a four-page illustrated brochure titled “What’s Going on with My Tax Bill?” to help explain these changes.
The brochure explains the state’s conversion of the market value homestead credit program (MVHC) to the new market value exclusion program (HMVE). It describes for residents the potential impact of the change on property taxes for 2012.
The brochure also includes answers to questions that city officials will likely hear from local property owners about the impact on non-residential properties and about other factors that affect property tax bills. To view on-line brochure & read full information, please go to the League of Minnesota’s link – click here!
11/17/2011 Update: Minnesota Public Radio (MPR) News has produced a short online video that explains the switch from the market value homestead credit (MVHC) to the homestead market value exclusion (HMVE). Video Link