Update: Are Property Taxes Going Down?

Will your property taxes be going down?  That's the conclusion of a study that came out last week.  There are also updates below on bridge safety, new laws and an upcoming town meeting.

PROPERTY TAXES GOING DOWN?  A new Revenue Department study projects property taxes will drop statewide as a result of recent legislative changes.  This is in stark contrast to the last decade, during which property taxes have risen a whopping 86%.  While I hope the Department of Revenue study proves true and agree that property taxes ought to go down, property taxes remain mainly in the control of local officials.  Since local levies for 2014 won't all be finalized until December, I think it is still a little premature to conclude property taxes will go down.

"STABLE" IS A GOOD THING.  The State of Minnesota's financial outlook was recently upgraded from "negative" to "stable" by Moody's, an international financial rating service,   While this may not seem like a big deal, the change in the State's financial rating is likely to save the State tens of millions of dollars in borrowing costs.

35W BRIDGE IMPACT... SIX YEARS LATER.  Last week marked the 6th anniversary of the 35W bridge disaster.  Following the unexpected collapse on August 1, 2007, the Minnesota Legislature ordered the Minnesota Department of Transportation to inspect all 20,000 bridges in the state.  The inspections revealed 172 were either "structurally deficient" (generally poor condition), "fracture critical" (if one major support component fails, the whole bridge could collapse), or both.  By the end of this year, 89 of those bridges will have been replaced or repaired. The other 83 will be done within the next five years.  In the meantime, the state's bridge engineer says those bridges are safe to use.  "That doesn't mean there's an immediate safety concern," the state engineer told KSTP. "It merely means something needs to be programmed in the way of investments on that bridge, whether it's a repair or replacement project."  To read inspection reports from MnDOT on the state's bridges, go to http://www.dot.state.mn.us/i35wbridge/statewide_inspections/inspections.html.

NEW LAWS EFFECTIVE 8/1/13.  It may seem strange, but August 1st is traditionally the date on which new laws become effective in Minnesota.  To see the list of new laws that went into effect, click on http://www.house.leg.state.mn.us/hinfo/newlawsall2013-0.asp. 

STATE FAIR TOWN MEETING.  My annual town meeting at the Minnesota State Fair will on Thursday, 8/22, from 10am-noon.  If you are going to be at the State Fair that day, please stop in and see me in the Education Building.

As always, please let me know if you have any questions, concerns or comments. You can reach me at 651-296-4192 or rep.joe.atkins@house.mn. Thank you for the honor of serving you in the Minnesota House.