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Anoka County Board Approves Final 2024 Property Tax Levy—Add 1 <br /> To lessen the financial burden felt by residents and businesses during the pandemic, the <br /> county was able to keep its property tax levy at a zero percent increase from 2021 to 2023. <br /> Even with the 2024 final amount figured in, Anoka County's annual levy increase has been <br /> one of the lowest in the metro area. The 5-year average is less than 4 percent. This figure is lower <br /> than the pace of inflation, which was at 4.64 percent over the last 5 years. <br /> Commercial, industrial and apartment property owners are likely to see larger estimated <br /> tax increases next year compared to that of residential. The main factors in those differences are: <br /> • Increasing levies at the local level, including city, school district and county. <br /> • 2023 value increases for commercial industrial and apartment properties largely <br /> exceeded that of residential properties, meaning they will bear more of the tax <br /> burden in 2024. <br /> While there were several legislative changes in 2023, most of those are effective for taxes <br /> payable in 2025, including the change to the homestead market value exclusion. There is an <br /> expectation of a continued shift of the tax burden to commercial, industrial and apartment parcels <br /> in future years, barring any new legislation in 2024. <br /> Note: Anoka County only has authority over the county portion of the property tax bill; <br /> cities and school districts have their own taxing authority. <br /> -30- <br /> DK:bv <br />