The city of Redwood Falls adopted a resolution that sets the total 2012 tax levy at 2,075,629. This represents a 0% change.

The total City budget for 2012 shows that property taxes make up only 4.5% of the total city budget. The other 95.5% or nearly 44.4 million dollars comes from all other revenue sources.

Residents recently received tax statements in the mail and although the total property tax bill consists not only of the city portion but also the school and county levies—there has been much confusion on the statements.

The city showed a video that was produced by Minnesota Public radio last night that explains that the Homestead tax and exclusion credit. That video can be found on a link at www.myklgr.com it is posted as the feature video on the home page.

Many residents saw a decrease in the market value of their home and it is due to the change made by the state legislature with homestead credits. It does not necessarily mean that the value of your home has decreased that much in many cases but rather the taxable market value is being adjusted. But it can affect city and county budgets by also decreasing their total tax capacity

Much of the 2012 budget for the city of Redwood Falls is unchanged for 2012.