St. Louis Park Residents Face 7.52% Property Tax Levy Increase For 2025, City Council Seeks Feedback At Upcoming 'Truth In Taxation' Hearing

St. Louis Park Residents Face 7.52% Property Tax Levy Increase For 2025, City Council Seeks Feedback At Upcoming 'Truth In Taxation' Hearing

In a recent move by the St. Louis Park City Council, residents have been presented with a proposed increase in the 2025 property tax levy. As reported on September 30th, the preliminary levy reflects a 7.52% hike from the previous year, ringing in at $49,979,665 to be divided among core governmental services, debt payments, housing projects, and economic development programs. According to the council, combining the levies for the housing and redevelopment authority and economic development authority with the general levy is an attempt to streamline comprehension and bolster transparency for the community. This change deviates from past years when these levies were itemized separately.

Property owners, particularly those with a median home value of $377,200, are looking at an average uptick of $9 monthly on the city portion of property taxes because of this proposed increase. Yet, the city points out that regardless of the preliminarily decided levy, individual taxes may still fluctuate due to shifts in property value or the community's collective valuation landscape. The final figure for the 2025 tax levy will be set in stone on December 16, after taking resident feedback into account.

With the aim to involve the people of St. Louis Park in the fiscal decision-making, the city council has set a 'truth in taxation' hearing for December 2nd. This session will be held at 6 p.m. at the City Hall located at 5005 Minnetonka Blvd., offering a platform for taxpayers to voice any concerns or opinions on the levy. Additionally, residents can direct their comments and inquiries via email to budget@stlouisparkmn.gov, as per the city's efforts to embrace a more participatory budgetary process.

The specifics of the proposed budget and the impacts of the property tax levy are detailed on the municipality's website. For those interested in delving deeper into the numbers, or who are considering attending the December 2nd meeting, more information can be found at St. Louis Park’s official budget page.

SOURCE: hoodline