This site provides information for taxpayers of Big Lake Schools, regarding how the district’s proposed 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 district will hold a special election on Tuesday, November 2, 2021, seeking voter approval of one ballot question.
QUESTION 1 would authorize the district to issue an amount not to exceed $30,000,000 in bonds for the acquisition and betterment of school sites and facilities, including, but not limited to, various deferred capital projects including roofs and ventilation systems, and renovations to educational spaces including Career and Technical Education, Special Education, and other instructional spaces at all levels.
For more information on how these funds would be used, return to the District’s website.
Impact on Property Taxes
The debt from the voter approved bond referendum that financed the construction of Liberty Elementary School (along with additions to the high school and middle school, and improvements to Independence Elementary School), will be paid off on February 1, 2022. The payment due on February 1, 2022 is being financed with property tax levies in calendar year 2021, along with payments on other outstanding bonds. The property tax levy for the payment on the new bonds would begin with taxes payable in 2022 (at a tax rate that would be level with taxes payable in 2021, along with the District’s existing debt) and the tax levies would remain in place for 20 years. To determine the estimated impact of the proposed ballot question on your 2022 taxes, follow the instructions below or view a sample property value here.
Your 2022 taxes will be based on the 2021 Estimated Market Value (EMV), which was provided on the “Notice of Valuation and Classification” mailed by your county in March 2021. You can review the current value for taxes payable in 2022 using your current tax statement, contact your county and ask for the 2021 EMV for taxes payable in 2022, or follow the instructions below to look up your 2021 EMV on your county’s website.
Click on the link below, select “Property Search” (select “Agree” if there is a pop-up), and enter your search criteria. Scroll down to the “Valuation” section and use the “Total Estimated Value” for the most recent assessment year in the calculator below.
ONLINE CALCULATORS: ESTIMATING TAX IMPACT
Residential Homestead Property
Commercial / Industrial Property
Agricultural Property
School Building Bond Agricultural Credit
This property tax credit originally took effect with property taxes payable in 2018. For taxes payable in 2022, the credit reduces taxes for owners of agricultural property in an amount equivalent to 60% of the taxes attributable to school district debt service for all agricultural property, except for the house, garage, and one acre. This credit is directly deducted from property taxes owed and applies to debt service levies for all types of existing and future bonds for construction and renovation projects. For taxes payable in 2018 and 2019, the credit was equivalent to 40%. Current law provides for a phased-in increase to the credit: 50% for taxes payable in 2020, 55% for taxes payable in 2021, 60% for taxes payable in 2022 and for taxes payable 2023 and later the credit will be 70%. The credit is paid through an open and standing appropriation, which means that no action by the Legislature is required each year for this credit to be paid from the state general fund. The credit is automatically deducted on the tax statement and is included in the tax impact estimates provided by Ehlers.
There are certain Minnesota Tax Refunds and Deferrals that may affect certain property owners' situations. They include:
Minnesota Homestead Credit Refund
If your household income is less than approximately $116,180, 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 $116,180
- Refund is on a sliding scale, based on your income and your total property tax burden
- The maximum refund is $2,840
- Also available to renters
- 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.
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 $60,000 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