This site provides information for taxpayers of Independent School District 707, Nett Lake Schools, regarding how the District’s proposed school building bond referendum may affect property taxes. The site was prepared in cooperation with Ehlers, the District’s independent municipal advisor. If you have questions about the information on this site, please contact Ehlers using the information provided below.
About the Referendum
The School Board of Independent School District No. 707 (Nett Lake School) will hold a school building bond referendum on August 12, 2025, asking voters to approve one question.
Question 1 would authorize the District to issue general obligation school building bonds in an amount not to exceed $495,000 to provide funds for a phased program of acquisition and betterment of school sites, facilities and equipment, with said bonds to be repaid from funds on hand and available in the debt redemption fund of the school district.
For more information on how these funds would be used, return to the District’s website.
Impact on Property Taxes
Approval of the ballot question would not result in a property tax change, rather, the election authorizes the issuance of a bond to fund local projects. The District participates in the State’s Maximum Effort Loan program, which requires the District to levy taxpayers at a statutorily determined rate. The revenue generated through that levy is deposited into the debt service fund. Each year, the determination is made, based on the amount in the debt service fund, to make a payment to the State as required by the Maximum Effort Loan program. The election would authorize the District to instead use those levy funds to repay the debt that voters authorized. The effect would be to keep the tax revenue for local projects.
Follow the instructions below or view sample property types and values here.
Your 2026 taxes will be based on the 2025 Estimated Market Value (EMV), which was provided on the “Notice of Valuation and Classification” mailed by your county in March 2025.
There are certain Minnesota Tax Credits and Deferrals that may affect certain property owners' situations. They include:
Minnesota Homestead Credit Refund
If your household income is less than approximately $139,320, you may qualify for the Homestead Credit Refund (also known as the “Circuit Breaker” refund). This program, which has existed since the 1970s, is intended to reduce tax burdens for homeowners with relatively low incomes and relatively high property tax burdens. Some important facts about this program are summarized below.
- Available each year to owners of homestead property
- Applies only to the taxes attributable to the house, garage, and one acre on agricultural homestead property
- Available to all owners of residential homestead and agricultural homestead property with household incomes of less than $139,320
- Refund is on a sliding scale, based on your income and your total property tax burden
- The maximum refund is $3,310
- To determine eligibility and refund amounts, complete Minnesota tax form M1PR
Special Property Tax Refund
If your total property taxes increase by more than 12 percent and more than $100 from one year to the next, you may qualify for a state refund equal to a portion of the increase. There is no income limit for this refund and the maximum refund is $1,000.
To determine eligibility and refund amounts, complete Minnesota tax form M1PR.
Senior Citizen Property Tax Deferral
If you are 65 years or older and have a household income of $96,000 or less, you may be eligible to defer a portion of the property taxes on your home, through the Senior Citizen Property Tax Deferral Program. The program:
- Limits the maximum amount of property tax you pay to 3 percent of your total household income
- Provides predictability; the amount of tax you pay will not change for as long as you participate in this program
The 2023 Legislature modified the requirements of this program by increasing the household income limit to $96,000. This new income limit is in effect for taxes payable in 2024 and later years.
Income Taxes
If you itemize deductions for federal income taxes, you may deduct a portion of your property taxes paid.
Starting with your 2024 taxes, renters can claim the Renter’s refundable credit on a Minnesota income tax return. Renters will no longer file a Renter’s Property Tax Refund.
