Moving Minnesota's Public Debate Forward

Fiscal Policy

Responsible, progressive fiscal policy creates state and community prosperity.

2013 Tax Act: Best Deal for Homeowners in 30 Years

Over the last three decades, years in which statewide homeowner property taxes fell were rare. The largest reduction occurred from 2001 to 2002 and was the result of the 2001 tax act. The second largest occurred from 2013 to 2014 and was driven primarily by the 2013 and 2014 tax acts.* While the 2013 and 2014 acts provided far less immediate relief than the 2001 act, over the long haul they should turn out to be a much better deal for Minnesota homeowners. The aggregate homeowner property tax reduction from…

Comparing the 2001 and 2013 Tax Acts: Which was Better?

Over the last thirty years, the tax acts of 2001 and 2013 stand out in terms of providing homeowner property tax relief. The largest single year reduction in homeowner property taxes over the last three decades occurred in 2002 as a result of the 2001 tax act, with the 2014 tax reductions resulting from the 2013 tax act coming in second place.* While the 2001 tax act produced the largest single-year homeowner tax reductions, the long-term impact of the 2001 act on Minnesota homeowner property taxes was decidedly negative. According…