Posts Tagged ‘Minnesota general fund’

State Business Property Tax: Flat Levy, Declining Rates

As a whole, the property tax changes enacted in 2001—including the state business property tax—have worked out well for Minnesota businesses, as noted in part 1 of this series. In addition, the cost of eliminating or drastically reducing the state business property tax might not just spend down a surplus, but inflate a deficit, as…

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Are Large Cuts to the State Business Levy Affordable?

The series of tax changes enacted in 2001—which included the creation of a general state business property tax—have worked out well for businesses. The previous article in this series showed that if the changes that most directly pertain to businesses had never been enacted, statewide business property taxes would be 11.5 percent higher today, holding…

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February Forecast Surplus Could Be Illusory

The projected budget surplus for the upcoming FY 2018-19 biennium increased by $250 million to $1.65 billion, based on Minnesota Management & Budget’s (MMB) February forecast, released today. The surplus for FY 2020-21 biennium—the start of which is still 28 months away—increased by $684 million; however, inflation remains the 800-pound gorilla in the room, as…

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