MINOT, N.D.- Property tax rates are expected to go down for Minot home owners after two years of tax hikes after the first look at Minot's preliminary budget for 2020.
Minot residents with homes valued at $179 thousand could see their property taxes decrease by $58.14 from this year to next.
While it might be one of the biggest budgets the city has ever seen--coming in just under $275 million--it can only decrease from here.
“I would venture to say the 2020 budget is probably the largest budget this city has ever developed,” said Minot City Manager Tom Barry.
The city plans on spending more than double the amount of sales tax than this year to fund flood control construction out of town.
Highway projects, capitol purchases, and flood control account for roughly $60 million more in spending than in the 2019 budget.
2020's preliminary budget is roughly $95 million larger than this year's.
“Not all this money is coming from the city--I think that's a big misnomer. Like 'oh my gosh, where'd you guys get an extra $95 million from, what have you been sitting on'? Well that's not the case”, Barry said.
There's a public Q and A on Aug. 19th at the Minot Auditorium at 4:30 p.m.