In September, the St. Louis Park City Council approved the 2023 preliminary property tax levies with a combined 7.76% increase over the 2022 property tax levies. It’s important to note this is a preliminary tax levy only. By law, cities are required to set their preliminary levy in September, then finalize it in December. Once the preliminary levy is set, the final levy may be lower but can’t be higher. This allows flexibility in the city’s ability to respond appropriately to the needs of residents should new circumstances arise between when the preliminary levy was set and when the final levy must be decided. As has occurred in past years, the final property tax levies may be lower than the 7.76% preliminary proposed tax levies.

Currently, St. Louis Park has three separate levies. The largest is the general levy, which was set at a preliminary increase of 8%. Because one of the two additional property tax levies did not increase from 2021, the overall increase is 7.76%. A description of the additional property tax levies that were preliminarily approved by the city council in September are described below.

HRA levy

St. Louis Park’s housing and redevelopment authority (HRA) levy was implemented in 2001. By law, HRA levy funds are used for housing and redevelopment purposes in the City of St. Louis Park. The HRA levy can’t exceed 0.0185% of the estimated market value of the city. The maximum HRA levy was preliminary approved for 2023, which totals $1,582,696 based on valuation data from Hennepin County. This is a 4.28% increase from 2022.

EDA levy

An economic development authority (EDA) levy of $500,000, or approximately .00586% of estimated market value of the city, was preliminarily approved for 2023. This levy will be used to fund salaries for city staff who are working on developments or projects within the city’s development fund. This levy didn’t increase from 2021.

What it means for you

On the median-value home of $371,800, the effect of the proposed 8% general tax levy along with the HRA and EDA levies (7.76% total proposed increase) adds about $17.50 per month for the average median-valued home. Regardless of the final tax levy, the St. Louis Park portion of your property tax may go up or down from 2022 to 2023. This is due to several factors including any changes to your property value as well as changes in the values of other properties in the community.

We want to hear from you

Here’s how you can comment on the 2023 budget proposal and proposed tax levy before its final adoption Dec. 19, 2022:

• Email budget@stlouispark.org with your comments or questions.
• Participate in a public hearing at the St. Louis Park City Council meeting Dec. 5, 6:30 p.m.