Video: Why are Minn. property taxes going up?
The town of "Hypothetical, Minn." provides a good example of how a shift in Minnesota's state budget will affect the property taxes of many homeowners in Minnesota next year.
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If you own a home in Minnesota, it's likely your property taxes will go up next year. That's because the state is changing the way it gives property tax relief to homeowners. Watch this video to see how it works.
For more information on the shift from a homestead credit to a homestead exclusion, here's an explanation from House Research.
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