Olmsted County finance director breaks down 2024 proposed levy
ROCHESTER, Minn. (KTTC) – The Olmsted County Board of Commissioners certified the preliminary 2024 levy for Olmsted County and the Olmsted County Housing & Redevelopment Authority (HRA) last week. The county’s chief financial officer explained what the changes mean for residents.
The 2024 preliminary property tax levy for Olmsted County and the HRA combined totals $130,602,041.
That total represents county and HRA property taxes of $125,692,357 and $4,909,684.
The property tax levy total, if approved, would be a 5.2% increase over 2023.
“Our property tax is per person, so we take the total levy needed for the county divided by the total population will be about $745 per person,” Olmsted County Chief Financial Officer Wilfredo Roman Catala said. “Which is about at a $17 increase per year.”
Roman Catala said the 5.2% increase is somewhere in the middle compared to other counties.
“What we found is that our 5.20 levy increase is very close to the median average,” he said. “For example, Hennepin county will be 6.5, Ramsey County will be 6.75.”
According to the county, some of the money will be used to capital investment projects like a new law enforcement training center and renovating government building. Some of these projects have been put on hold in the past.
Roman Catala said the 5.2% increase actually lower than previous years.
“Going back to 2002, all the way to 2011, our average levy increase per year was 7%,” he said. “So, from 2018- including the previous cycle is 5, 5.2% so we’re in that average.”
There will be future meetings held on the preliminary levy.
On December 7, 2023, at 6 p.m., a “Truth in Taxation” public meeting will be held which will further explain the county’s budget, levy and provide an opportunity for public comment.
The meeting on December 19 is set for 6 p.m. where the County Commissioners will adopt the final 2024 budget.
You can read about the 2023 budget and future meetings regarding the 2024 budget timeline by clicking here.
Copyright 2023 KTTC. All rights reserved.