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Minnesota State Wire

Monday, December 23, 2024

Minnesota's Q4 2022 property tax revenue up 1,436.4% from previous quarter

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Paul Marquart Commissioner of Revenue at Minnesota Department of Revenue | Minnesota Department of Revenue

Paul Marquart Commissioner of Revenue at Minnesota Department of Revenue | Minnesota Department of Revenue

Minnesota collected $338 million in property taxes during the fourth quarter of 2022, a 1,436.4% increase over the third quarter of 2022, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the third quarter of 2022 was $22 million.

Overall, Minnesota collected $8.2 billion in combined tax revenues in the the fourth quarter of 2022, an increase from the $8.1 billion collected in the previous quarter.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q4 2022 Minnesota Tax Collections
Type of TaxAmount (millions)
Property Taxes$338
Sales and Gross Receipts Taxes$3,244
Income Taxes$4,078
License Taxes$348
Other Taxes$162
Source: U.S. Census Bureau

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