If your like many homeowners, you recently received your 2011 property tax statment in the mail this past month. Like most homeowners, the value of your property decreased..however many households found thier property taxes increasing! It doesn’t sound fair I know, however some municipalities such as Minneapolis have really socked it to homeowners, many experiencing increases of over 10%! With a budget shortfall in the State of Minnsota, expect a lively debate at the Capital on how they will make up this difference, I have a hunch property taxes are sure to be a part of that conversation. Please see link below, very interesting facts on how property taxes are calculated.