Want to learn more about Cook County property taxes? Then attend the upcoming meeting
Business property taxes in Cook County are relatively high, especially in Grand Marais. But did you know that more than half of the property tax levied on a Grand Marais commercial property is not levied locally, nor does the revenue stay in Cook County?
Cook County collects the tax but then ships 53 percent of the revenue off to St. Paul, leaving the remainder to fund city, county, hospital, schools and special taxing districts controlled by Cook County residents. To put it another way, of $10,000 collected from a Grand Marais commercial property, just $4,700 is available to fund local services.
In an unincorporated area of the county, the non-local property tax hit is even higher. In Hovland, for example, fully two-thirds of the taxes collected on a commercial property do not stay in Cook County.
Want to know more?
Come hear Aaron Twait of the Minnesota Center for Fiscal Excellence explain how the property tax actually works in Minnesota and Cook County Assessor Todd Smith explain how it works locally. Join them at the Cook County Chamber/North Shore Title Property Tax Education Seminar from 6-8 p.m. on Tuesday, April 4, at the Arrowhead Center for the Arts. There is no charge, and all are welcome.