City Of St. Louis Park: Preliminary 2022 Property Tax Levy Set

Press release from the City of St. Louis Park:

October 21, 2021

In September, the 2022 preliminary property tax levy was set with a 6.5% increase over the 2021 property tax levy. It’s important to note that this is only a preliminary tax levy. By law, cities are required to set their preliminary levy in September, then finalize it in December. Once the preliminary levy is set, the final levy may be lower but can’t be higher.

The St. Louis Park City Council has discussed at public meetings its desire to set a final levy lower than the preliminary 6.5%. At the same time, the council wanted to ensure the city’s ability to respond appropriately to the needs of its residents should new circumstances arise between when the preliminary levy was set and when the final levy must be decided. In addition to the general levy, two smaller property tax levies are proposed, described below.

Proposed HRA levy

St. Louis Park’s housing and redevelopment authority (HRA) levy was implemented in 2001. By law, HRA levy funds are used for housing and redevelopment purposes in the City of St. Louis Park. The HRA levy cannot exceed 0.0185% of the estimated market value of the city. The maximum HRA levy is being recommended for 2022, which totals $1,517,799 based on valuation data from Hennepin County.

Proposed EDA levy

A new economic development authority (EDA) levy is being proposed for 2022 in the amount of $500,000. This levy will be used for the development fund as a sustainable funding source and also to continue the city’s investment in programs to advance its Climate Action Plan

What the proposed tax levy means to you

On the median-valued home of $330,500, the effect of the proposed 6.5% tax levy would be a $12 per month increase in the city portion of property taxes. Adding the HRA and EDA levies to the 6.5% general levy adds approximately $2 per month for the average median-value home. This brings the total proposed tax levy to approximately $14 per month per average median-value home. Regardless of the final tax levy, the St. Louis Park portion of your property tax may go up or down from 2021 to 2022. This is due to several factors including any changes to your property value as well as changes in the values of other properties in the community.

We want to hear from you

Here’s how you can comment on the 2022 budget proposal and proposed tax levy before its final adoption Dec. 20, 2021:

• Email budget@stlouispark.org with your comments or questions.
• Participate in a public hearing at the St. Louis Park City Council meeting Monday, Dec. 6, 6:30 p.m.

Visit the city budge page for information about the city budget. Email budget@stlouispark.org if you have questions or would like more information.

This press release was produced by the City of St. Louis Park. The views expressed here are the author’s own.