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Minnesota State Wire

Tuesday, October 15, 2024

Higher property tax revenue in Minnesota during Q2

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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 $382 million in property taxes during the second quarter, a 3,372.7% increase over the first quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the first quarter was $11 million.

Overall, Minnesota collected $10.4 billion in combined tax revenues in the second quarter, an increase from the $8.2 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.

Q2 Minnesota Tax Collections
Type of TaxAmount (millions)
Property Taxes$382
Sales and Gross Receipts Taxes$3,447
Income Taxes$5,953
License Taxes$455
Other Taxes$185
Source: U.S. Census Bureau

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