If you live in Olmsted County, Minnesota, in the Rochester area, you know that Independent School District 535 (eg the Rochester school district) put forth a levy referendum on the November 2023 ballot, asking for $10M for technology. This referendum failed. But that doesn’t mean your school-related taxes aren’t going up in 2024.

As a district, additional funds through increased property taxes will go up 3.9% for 2024.

If your home value is static, then this portion of your property taxes wouldn’t necessarily be going up. But I don’t know about you, my home value has supposedly been going up every year, and my property tax bill with it.

If you live in the city of Rochester, then also be aware the city-based property taxes will also increase, by 9.44%. The city says it aims to keep the increases to less than 5%, but yet this will be the second-lowest increase in the past 12 years. (this sounds a lot like the “I’m overwhelmed” part of my recent post, here)

And Olmsted County is planning to increase their property tax levy by 5.2% for 2024.

Put that in context

Remember my recent post about a raise being a pay cut in disguise. If you are getting a 4% raise for 3/4 of the year, that’s a 3% raise total for the year. Keep that in mind when you look at how much these non-discretionary expenses are going up.