Proposal heard in Senate Tax Committee Thursday
[SAINT PAUL, MN] — A new proposal from Senator Grant Hauschild (DFL-Hermantown) would invest in critical infrastructure and deliver permanent property tax cuts for homeowners throughout northeastern Minnesota, including Lake County. The proposal appropriates taconite taxes – which mining companies pay in lieu of property taxes – to leverage significant investments in schools, communities, and recreation while cutting property taxes for hard-working families and senior citizens.
“This is an investment in the people and the communities of Northeastern Minnesota by delivering savings for families and improving quality of life through key infrastructure upgrades,” said Sen. Hauschild. “This is a clear win-win for everyone who calls Lake County home. As we enter the final weeks of the legislative session, I am focused on moving this proposal forward, getting it signed into law, and delivering results for Northeastern Minnesota.”
The proposal includes the largest increase in the Taconite Homestead Credit since it was frozen in 1998. The legislation would increase the Taconite Homestead Credit from an average of $289-$315 per homeowner to $515 per homeowner – a nearly 77% increase. The newly updated Taconite Homestead Credit would be ongoing each year, making the tax cut permanent. Every Lake County resident’s homestead would benefit from the property tax relief in this proposal.
The legislation also provides additional funding for projects in Lake County including:
- Crystal Bay Township – $100,000 for a septic project at the Clair Nelson Community Center
- Silver Bay – $6,000,000 for infrastructure water, sewer, and broadband replacement
- Veterans on the Lake in Ely – $400,000 for housing facility replacement
- Finland Snowmobile/ATV Club – $25,000 for trail maintenance and equipment
- Two Harbors – $250,000 for band stand repairs and Odegard Park and Trail restoration
- Lake Superior School District – $150,000 to support an emergency career program
- Save Our Ship in Knife River – $200,000 to for shelter construction
- Wild Country ATV Club – $25,000 for trail maintenance and equipment
- Voyageur Snowmobile Club – $25,000 for trail maintenance and equipment
