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New Proposal by Senator Hauschild Delivers Tax Savings and Investments for Lake County Proposal was heard in Senate Tax Committee last 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 home owners 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 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

Senator Hauschild’s proposal, Senate File 5435, was heard in the Senate Tax Committee at 8:30 a.m. on April 18th. The committee hearing can be viewed on the MN Senate YouTube channel.

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