Transparency in Taxation Hearing - Monday, December 7, 2020
“Truth in taxation (TnT)” is a process first enacted by the legislature in 1988 to enhance public participation in Minnesota’s property tax system. Read more about TnT here.
The TnT process consists of these three components:
Each local government is required to formally adopt a “proposed levy” in September for the upcoming year; the final levy, when ultimately adopted, may not exceed the proposed levy.
County auditors generate parcel-specific notices of proposed taxes for all parcels of property based on the proposed levies
Each local government is required to hold a public meeting prior to adopting its final levy where budget and tax issues are discussed and where public testimony must be allowed after the notices come out.
The goal of TnT is improving accountability by focusing taxpayers on the relationship between budget decisions and property taxes. It provides taxpayers with a greater opportunity to become involved in the local government budgeting process.
In September 2020, the Chanhassen City Council sets a preliminary tax levy used to generate Truth in Taxation notices that are mailed to all Chanhassen residents. The amount the city council sets is the "not to exceed" amount for taxes payable in 2021 for the City of Chanhassen (other taxing jurisdictions will follow a similar process).
This meeting is the opportunity for all taxpaying residents and businesses in Chanhassen to give input on the preliminary tax levy and what the final levy should be for 2021. At the next city council meeting in December, the City Council will set a final levy which cannot be higher than the preliminary. That levy will be used for generation of final tax statements that all taxpayers will receive in 2021.
What: Truth in Taxation Hearing
When: Monday, December 7, 2020
Where: City Council Chambers (Zoom electronic viewing option also available)