Business Living Here Membership Events & Programs News / Media About Us Search You are here homeliving hereaboutsales tax extension Sales Tax Extension WATCH THE VIDEO | PRESS RELEASE | FAQs | PRINTABLE VERSION SAMPLE BALLOT MANKATO | SAMPLE BALLOT NORTH MANKATO CITY OF MANKATO FAQ FLYER | CITY OF NORTH MANKATO FAQ FLYER Your source for information on the local sales tax extension in Mankato and North Mankato. Click below to add the Growing a Greater Mankato logo to your website. Tweets by katosalestax TOP THINGS TO KNOW This is an extension of an existing sales tax - it is not a new tax. The tax will support improvements to critical infrastructure and development of existing and new regional recreation facilities. Voting yes does not mean money will automatically be spent. Each project that would use sales tax dollars will be separately reviewed and approved by the City Council with an opportunity for public input. Remember to vote on November 8, 2016. WHY IS THIS REFERNDUM BEING CALLED? The current 0.5 percent sales tax is set to expire in both Mankato and North Mankato in the next few years. To extend the tax, voters in each city must approve of the extension in a referendum. Extending the 0.5 percent sales tax will provide a stable source of revenue other than the property tax to pay for critical infrastructure needs and recreation amenities that will support the vitality of our community for current residents and increase its attractiveness to new families, businesses and visitors. Additionally, having this funding source available will also allow each city to attract other matching funds from federal, state and private sources to support the proposed projects – allowing taxpayers to get more bang for their buck. WHAT IS BEING ASKED OF VOTERS? Voters in Mankato and North Mankato will be asked on their general election ballot this November 8th to either approve or disapprove the extension of the existing 0.5 percent sales tax that is currently assessed on purchases made within the cities of Mankato and North Mankato. If approved, the 0.5 percent sales tax would continue to be collected until 2038. WHAT IS THE 0.5 PERCENT SALES TAX? Since 1991 for the City of Mankato and 2008 for the City of North Mankato, each city has assessed a 0.5 percent sales tax on top of the regular state sales tax of 6.875%. Both taxes were approved by citizens. Mankato used the sales tax to construct and maintain the Verizon Wireless Civic Center, the Vetter Stone Amphitheater, and for capital improvements to the Mankato Regional Airport. North Mankato used the sales tax to help pay for the County Road 41 interchange at Highway 14, new soccer fields at Caswell Park, park improvements, an expansion of the North Mankato Taylor Library and downtown redevelopment. What will the funds raised by an extension of the 0.5 percent sales tax be used for? The proposed sales tax extension referendum would allow the cities of Mankato and North Mankato to spend up to $62 million ($47 million for Mankato and $15 million for North Mankato) to be used for three primary purposes: Maintenance of critical regional infrastructure; Maintenance and enhancements to existing regional recreation facilities and parks; and Matching funds for construction of new indoor regional recreation facilities. Click on the city below to see what each would be allowed to spend their sales tax dollars on. Mankato ($47 million) North Mankato ($15 million) What does the 0.5 percent sales tax cost me? The Minnesota Department of Revenue estimates that a 0.5 percent sales tax costs the average household $81 dollars per year, or about $6.75 per month. On a $50 purchase, a 0.5 percent sales tax equals 25 cents. How does the 0.5 percent sales tax compare to a property tax increase? If the sales tax were not extended and property taxes were used instead to equal the total amount of money that is raised by the local sales tax in each city, it would require a property tax increase of 28 percent in Mankato and nine percent in North Mankato. Below are examples of what that property tax increase would mean for property owners. For an owner of a $165,000 house, that would mean a yearly increase of $149 in property taxes in Mankato and $119 in North Mankato. For an owner of a $250,000 house, that would mean a yearly increase of $260 in property taxes in Mankato and $196 in North Mankato. For a commercial/industrial property valued at $1 million that would mean a yearly increase of $1,047 in Mankato and $1,602 in North Mankato. How will the referendum question be worded on the ballot? The following language will appear on the ballot this November 8. Please note the question will be different depending on whether you live in Mankato or North Mankato. Mankato Residents North Mankato Residents Voter Information City of Mankato Sales Tax Information City of North Mankato Sales Tax Information CLICK FOR FULL SCREEN VERSION The Growing a Greater Mankato campaign is supported by Greater Mankato Growth, Visit Mankato and the Mankato Sports Commission. The Greater Mankato Growth, Inc. Family: Stay Connected Sign-up for our periodic emails to stay up-to-date with what's going on in Greater Mankato! Email Sign-up Contact Us Greater Mankato Growth 3 Civic Center Plaza, Suite 100 Mankato, MN 56001 507.385.6640 800.697.0652 info@greatermankato.com View Greater Mankato Growth'S Facebook Page View Greater Mankato Growth'S Twitter View Greater Mankato Growth'S Youtube Channel View Greater Mankato Growth'S LinkedIn Profile View Greater Mankato Growth'S Flicker Photos View Greater Mankato Growth'S Blog Web site design and programming by VoyageurWeb, Mankato, MN