$300K in Property Tax Relief for Pine County
ST. PAUL, MN – State Representative Tim Faust successfully passed a provision that would allow Pine County to use hundreds of thousands of dollars in a timber reclamation fund to hold down property taxes for homeowners. The bill was included in a Public Finance Tax bill, approved by the House on a vote of 125 – 7, and signed into law by the Governor. Rep. Faust said this bill will provide needed property tax relief for Pine County homeowners to help in this difficult economy.
“Before session began, the Governor’s unallotment cut over $100 million from local communities and he has proposed more deep cuts to counties and cities in order to close our severed budget shortfall,” said Faust. “Those cuts mean an increased property tax bill for our homeowners and in this Bush economy that is not the best option. This provision will free up Pine County to use existing resources to lessen the blow to property tax payers. Property tax increases shouldn’t be where we look first to solve our budget shortfall.”
The provision passed by Faust allows Pine County to use some of the money it generates from tax-forfeited land to replace all or a portion of property tax aids or credits that are cut or unalloted. Within 6 months of the cuts, the county board may adopt a resolution transferring money from the tax-forfeited account to the county’s general fund.
“I was happy to work with and want to thank the Pine County commissioners for their help on a bill that will allow over $300,000 to hold down property taxes,” said Faust. “Given our budget shortfall, this provision is exactly the kind of legislation our communities need to get through these trying times.”
(From MN House of Representatives)