The city of Thief River Falls held their truth in taxation hearing on Tuesday evening. The budget process to date has taken 3 city council members and staff, the city administrator over 20 meetings that started in June. Several individual and committee meetings, budget and finance meetings along with the committee of the whole. They had a preliminary budget and tax levy on September 17th, and on December 17th the final budget and tax levy will be adopted by the city council.
The Thief River Falls property tax rate is set by taking the city tax levy and dividing it by our total tax capacity. Property taxes vary from year to year because of market value changes, budgets and levies, special assessments, voters approve a referendum, changes in federal and state mandates, changes in aid and revenue from state and federal governments and state legislative changes. The city of Thief River Falls proposed property tax levy is 18.38%.
The 2020 final budget and tax levy will be adopted at the next city council meeting held on December 17th at the city council chambers at 5:30pm.