THE COST
Understanding the tax impact
The cost of the levy is straightforward: $15/month on an average Benson home (median home valued at $175,000), if approved. Specifically, $700 more per student, per year. This equals an additional $500,000/annually for the school district.
This referendum asks voters to revoke the current $710.70/student operating referendum and replace it with a $1410.70 operating referendum. It will be in place for 10 years (unless it is replaced); and adjusts with inflation.
Calculate your Personal Tax Impact
CLICK HERE to visit the tax calculator and determine the specific tax impact for your home and agricultural property.
CLICK HERE to View and Download the Full Tax Impact Chart for this referendum.
Tax Relief Options for Residents
Senior Citizen Property Tax Deferral
Allows people 65 years of age or older with household income of $96,000 or less to defer a portion of property taxes on their home. Deferred property taxes plus accrued interest must be paid when home is sold or homeowner(s) dies.
Homestead Credit Refund
Available for all homestead property*, both residential and agricultural - house, garage and one acre (HGA only). Refund is sliding scale, based on total property taxes and income (maximum refund is $3,310 for homeowners and $2,640 for renters).
Special Property Tax Refund
Available for all homestead property*, both residential and agricultural (HGA only) with a gross tax increase of at least 12% and $100 over prior year. Refund is 60% of tax increase that exceeds greater of 12% or $100 (max $1,000)
*Homestead property is physically occupied by the owner or owner’s qualifying relative as the principal place of residence.
Estimated Tax Impact
When Would New Revenue be Available?
AGRICULTURAL PROPERTY
Taxed only on the value of the House, Garage and One Acre (HGA), remaining value exempt.
Learn More!
The MN Department of Revenue says many property owners qualify and don’t do the paperwork to claim the refunds described above.
Visit the Department of Revenue website at www.revenue.state.mn.us for more information