Patch Poll: How Does Your 2012 Proposed Property Tax Notice Compare to Your 2011 Taxes?

With proposed property tax notices arriving in mailboxes in Dakota County this week, homeowners are getting their first look at how state law changes will impact their wallets.

During this year’s session of the , lawmakers altered the way property taxes are calculated by repealing the Homestead Market Value Credit and replacing it with a Homestead Market Value Exclusion.

That tax law change will be reflected on 2012 property tax bills.

According to the Dakota County website, the change will “commonly result in tax increases.”

The county's 2012 property tax website—which can be accessed by clicking here—contains an explanation of the law change, as well as other information pertaining to property taxes payable next year.

Under state law, each county is required to send out the proposed property tax notices—which contain estimated property tax figures from city, school district and county governments for the upcoming year—between Nov. 10 and Nov. 24.

The Dakota County website says the figures on the proposed tax notices likely are different than those on tax bills sent out in spring for a number of reasons, including:

• Passage of referendums.
• Change of property classification.
• Reduction in tax levies.
• Special assessments.

Cities and school districts will finalize their 2012 property tax levies next month.