Senator Justin Eichorn (R-Grand Rapids) announced Tuesday that he will be introducing legislation to deal with skyrocketing property taxes for Minnesota residents. Senator Eichorn has been working on legislation to cap property tax increases and released the following statement:

“I keep hearing from constituents that are struggling to pay their property taxes due to dramatic changes in their home values,” Eichorn said. “Many families, and especially those on fixed incomes, are struggling to pay their enormous tax bills. I am working on legislation to protect our families and our seniors from historic increases.”

The proposed legislation would cap the assessed market value increase of residential property until the year the property is sold. The limit on a property’s increase in value will lead to a corresponding limit on how much property taxes may be raised solely based on the valuation. The bill would ultimately protect homeowners and taxpayers from skyrocketing property taxes. 

“This session I am working on eliminating the unfair tax on social security income, reducing income taxes, and working to stop property and unemployment insurance tax increases,” Eichorn said. “Minnesotans have been overtaxed $9 billion and we deserve our money back in sustainable tax relief.”