Under Minnesota state law cities are required to hold a
budget meeting in December of each year to discuss the budget and the proposed
levy for the following year. In Breezy
Point the meeting is generally held during the regular meeting in December. At this meeting general finances are
discussed along with some information about how taxes are calculated and what
the projected city tax rate is for the following year. Included were projections for taxes on various
property values for both residential and commercial properties. A comparison was also made showing what the
rate in Breezy Point is in relation to other neighboring jurisdictions.
In looking
at the proposed taxes an increase in the amount may be noted. It is important to understand where that
increase comes from. There are three main
jurisdictions that levy property taxes.
These are the city, county and the school. Each is responsible for their levy
amount. Increases in any of these can
increase your taxes. There is also the market
value of your property. An increase in market
value will likely mean an increase in total taxes for all jurisdictions.
The proposed levy amount is $1,798,063.
The city has been fortunate to see growth
in its tax capacity. It grew $272,463
for a total of $4,249,337. The projected
tax rate based on this levy for Breezy Point is 42.617% for 2016. This compares to the final tax rate of 44.175%
in 2015. This tax rate decreased
slightly, by about 1.5%, from that of 2015.
The rate reduction is on top of a levy increase of $39,983 for 2016. The increase in the levy is 2.22%.
The city of
Breezy Point’s final levy and budget for 2016 was approved.
