During its regular meeting on Dec. 12, the Orono City Council began with its annual “Truth in Taxation Public Hearing.”
The public hearing is held with the idea of helping citizens better understand what their tax dollars are going towards within the city.
“Tonight is the end of a very long process that started in May,” City Treasurer Ron Olson said.
Orono’s proposed tax levy for 2017 is $5,353,730. This has been divided into Orono’s city tax capacity of $31,052,317 for a tax capacity rate of 17.4 percent.
“That’s actually lower than last year’s,” Olson said. “Last year’s was about three-quarters of a percent higher than that.”
Olson then went on to explain how to figure out an individual net property tax for the city’s tax portion of one’s taxes.
“The city portion of a resident’s property tax bill is rather low, compared to the school district and especially the county,” Olson said.
On average, Minnesota residents pay roughly 30 percent of their property tax bill to the school district, around 46 percent to the county and somewhere around 20 percent to the city.
Continue reading: Orono approves tax levy with difficulty