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Minneapolis Increases City Taxes 20%; Taxpayers File Lawsuit

Many Minnesotans received their tax statements in the mail this week and roughly 67% of Minneapolis homeowners will see a 10-20% increase of their city taxes. This is not to fund schools, safe roads or to protect the underprivileged; this tax increase is a result of pensions promised by the city years ago. I wonder if the home owners knew when they signed their mortgage they were agreeing to pay $20 million in pensions this year and $51 million in pensions by 2012. There has been a class action lawsuit filed against the City, which will not be resolved before the City vote to increase the tax levy on December 13th.

Find out why property taxes skyrocket while home values continue to plummet link here

 

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