City Of St. Louis Park: City Council Okays 2022 Budget, Tax Levy

Press release from the City of St. Louis Park:

December 21, 2021 3:59 p.m.

At its final meeting of 2021, the St. Louis Park City Council approved a 2022 budget, and a final property tax levy increase of 5.58% over 2021. This final approved levy was the conclusion of several months of budget discussions between city council and staff. The 2022 budget was developed with the council’s strategic priorities, Vision 3.0 and the comprehensive plan in mind.

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 can’t exceed 0.0185% of the estimated market value of the city. The maximum HRA levy was approved for 2022, which totals $1,517,799 based on valuation data from Hennepin County.

EDA levy
A new economic development authority (EDA) levy was approved for 2022 in the amount of $500,000, which is lower than the .01813% of the estimated market value of the city. 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 tax levy means to you
On the median-valued home of $330,500, the effect of the total tax levy, HRA and EDA levies is a $13 per month increase in the city portion of property taxes. Regardless of the 2022 property 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.

What’s next
Property tax statements for 2022 will be mailed by March 31. Most property taxes are due May 15 and Oct. 15 in equal installments.

Also in March, you’ll receive a valuation and classification notice that will impact your 2023 property taxes. When you receive the notice, read it carefully. If you believe your property valuation and classification are accurate, no further action is needed. If you have questions about either, contact the St. Louis Park Assessing Division at 952.924.2535. Don’t delay in calling – this is the time to appeal or question your valuation and classification for 2023. Valuation can’t be appealed after property taxes are sent. Taxes may not be appealed.

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