Item Description:
title
Set maximum 2024 property tax levy and proposed 2024 budget
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Resolution:
body
BE IT RESOLVED, that the Hennepin County Board of Commissioners hereby adopts a 2024 maximum property tax levy of $991,309,287 and proposed budget of $2,647,343,892; and
BE IT FURTHER RESOLVED, that the 2024 maximum property tax levy of $991,309,287 be certified to the County Auditor.
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Background:
Pursuant to Minnesota Statutes, section 275.065, subdivision 1, all counties must approve a proposed budget and a maximum property tax levy for 2024 by September 30, 2023.
The 2024 maximum tax levy is $991,309,287, a 6.5 percent increase compared to the 2023 adopted levy. The budget proposed by the County Administrator is $2,647,343,892. The parcel-specific notice of proposed taxes sent to taxpayers in November is based on this proposed levy. While the final approved budget may be higher or lower than the one proposed, the final tax levy adopted in December cannot exceed the maximum tax levy which is adopted by this resolution. The County Administrator presented the proposed 2024 budget on Tuesday, September 12, 2023.
recommendation
Recommendation from County Administrator: Recommend Approval