It would cut the average homeowner's tax bill by 18.5%, lower taxes on multifamily buildings an average of 21%, cut business taxes by 10%, farm taxes by 20% and cabin taxes by 12%. The Democrat-controlled Senate, Republican-controlled House of Representatives and Independent Gov. Ventura had been unable to agree on a budget deal before the conclusion of this year's session of the Minnesota Legislature.
"This plan gives both the House and the Senate much of what they have told us is most important to them while preserving the bold property tax reform and relief that I first proposed in December of last year,"Ventura says. Ventura's package:
* Eliminates the state-mandated general education property tax levy, and other property tax levies that fund statewide or regional, rather than local needs. This will provide for double-digit property tax reliefnext year, and restore the property tax to a local tax controlled by local citizens.
* Reforms the property tax classification system, which will result in a more uniform taxation of differentkinds of homes and reduce the state's high tax burdens on businesses and apartment properties--which will, in turn, improve the state's climate for economic development and competitiveness.
* Makes the school funding system more uniform across school districts by increasing the general education per pupil amount by $310 per student, by replacing that same amount of referendum revenue with state funding. This will give additional property tax relief and stabilize revenues in most districts.
"Today we're standing at the edge of the most sweeping property tax and school financing reforms of the past 30 years," Ventura says. "If we step forward boldly we will deliver our citizens and taxpayers alower, simpler, fairer and more competitive property tax, and a more fair, understandable, and uniformmeans of paying for our public schools."
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