Readers may recall that in the December 13th edition of the Journal, we reported on the Truth in Taxation Public Hearing that was held during the December 9th Two Harbors City Council meeting. Due to an error in timing of that meeting, the Council revisited the Truth in Taxation issue on December 30th. While the outcome of last Monday’s meeting is the same as what was reported in the December 13th issue, we would like to share a few more details so that you know how your property tax dollars are used to help supply the needed services that benefit all of the residents of Two Harbors.
A brief recap: The tax levy for 2025 was lowered from 6% to 3.5% which led to an overall general fund increase for 2025 of $87,856 over last year. City administrators have worked with all city departments to economize and to bring efficiency wherever possible. The aim is to maintain a balanced budget.
Property tax rates are set by the County Assessor. Property owners who have a home valued at $150,000 will see a decrease of $21 over last year and will pay $692 in 2025. Homeowners who have a home valued at $200,000 will see a property tax decrease of $6.00 over the course of the year and will pay $1015 for 2025. Homeowners who have property valued at $400,000 will see a property tax increase of $54 dollars over what they paid in 2024 and will pay $2305 for 2025.
Where do your property taxes go? For the property owner who will be paying $1015 in taxes next year, a monthly amount of $84.58 will be distributed as follows. $28.07 of that amount goes to help fund the police and fire departments. $25.72 goes to Public Works for maintaining the roads. $15.39 goes to general governmental costs. $6.07 supports local facilities like the Public Library. $4.31 helps support Parks and Recreation. $2.90 helps cover miscellaneous costs, such as Cable TV and $2.12 helps cover the cost of operating the cemetery.
Taken together, our collective property tax dollars help finance the city services we need and want and help to make Two Harbors a great place to live.
The next Two Harbors Council meeting will be held on January 13th at 5:30.
