A Message from Mayor Mullin
Your Property Taxes
By now, most of you have received the mailing from Hennepin County outlining the proposed levies and 2025 property values for taxes payable in 2026. For many residents, the year-over-year increases were significant and, frankly, eye-opening.
It is important to understand that the rise in property taxes is driven by a combination of factors that extend beyond local city operations. Three primary drivers are at play:
- Major shift in property values is moving the tax burden west. While Wayzata saw values rise by an average of 22.1%, the commercial core of Minneapolis (which holds 35% of the county’s commercial inventory) faced sharp declines. As their values drop and ours rise, the county tax burden naturally tilts toward Wayzata.
- Aggregate Spending: There are increased funding needs across all overlapping taxing authorities, including the State, County, School District, and Regional Agencies.
- Systemic Cost Shifts: Ongoing fiscal pressures at the state and county levels are creating downstream effects that ultimately appear on local tax statements.
While these numbers can be daunting, it is helpful to remember that City of Wayzata taxes make up only about 19% of your total property tax bill. We are working hard to control the portion we can manage. Click here to learn more about your City property taxes.. Earlier this week, the Wayzata City Council directed staff to bring back a budget reflecting a levy increase of 4.9%, a reduction from the preliminary levy of 7.5%. To learn more about how to provide input to Hennepin County regarding your property taxes please visit hennepin.us/TNT.
Important: You May Be Eligible for a Refund
We also want to make you aware of a valuable tax credit - Minnesota’s Special Property Tax Refund, often called the "targeting" refund, is available to homeowners regardless of income. Given the market shifts described above, many Wayzata residents are likely eligible.
Who Qualifies? You may be eligible if your property taxes increased by more than 12% and by at least $100 compared to the previous year.
Key Details:
- Not Income Dependent: Income is not a factor; any homeowner meeting the increase threshold can apply.
- The Benefit: The refund equals 60% of the tax increase above the 12% threshold.
- The Cap: The maximum refund is $1,000 per household.
How to Apply Homeowners can apply using Form M1PR (Property Tax Refund), available through the Minnesota Department of Revenue. You can file online or by mail. Applications for taxes payable in 2026 are typically due by August 15, 2026.
For more information and to find the application form, please visit: https://www.revenue.state.mn.us/property-tax-refund
Contact the Mayor:
City phone #: 952-404-5327
City email: amullin@wayzata.org
Facebook: facebook.com/mullinforwayzata
X: @Andrewmullin