Truth In Taxation In Mankato
The Mankato City Council finalizes its budget, which will lead to a modest property tax increase for homeowners, though that increase comes with expected hikes from the county and school district as well.
A city budget in the area of $140 million includes a roughly $18 million property tax levy. That figure is a healthy increase from last year, though it's due to the increase in property value, not the rate the city charges.
The additional revenue will largely come from homeowners. The average household, worth about $190,000, will see an $81 increase in the Mankato portion of their property tax bill.
On top of that, many of the fees and charges for services will be going up as well.
Along with the budget work, future street work was also set for 2018, most notably North Fifth Street from Main Street to Washington, Record Street, and the Warren Street Corridor.
-- KEYC News 12.