Moving Minnesota's Public Debate Forward

Fiscal Policy

Responsible, progressive fiscal policy creates state and community prosperity.

2014 Homeowner Property Tax Reduction is Wide & Deep

The fact that Minnesota property taxes will decline in 2014 for the first time in twelve years is well established. However, a new simulation from non-partisan staff at the Minnesota House Research Department reveals the breadth and depth of those tax reductions. From 2013 to 2014, taxes on existing residential homestead property will decline statewide by $171 million or 5.2 percent; total homeowner property taxes in 80 of the 87 Minnesota counties—containing 93 percent of residential homesteads in the state—will drop. Credit for the 2014 homestead property tax reductions largely…

Price of Government Projected to Hit All-Time Low

Despite all of the crying from the right about tax increases, Minnesota’s “Price of Government” is projected to reach the lowest level in its 25 year history. The “Price of Government” (or POG) is calculated periodically by non-partisan staff at Minnesota Management & Budget (MMB) and is equal to total state and local government revenue excluding federal grants (referred to as “own-source revenue”) as a percentage of statewide personal income. MMB has calculated the POG percentage each year since fiscal year (FY) 1991. According to MMB: In broad terms, the…