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SUPERINTENDENT IS REPORT AND AGENDA Regular Meeting of the Board of Education Independent School District No. 280, Rich field, Minnesota Rich field Public Schools inspires and empowers each individual
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Truth in taxation refers to the principle that local governments must provide transparency in the allocation of tax revenues and notify taxpayers about property tax increases and the rationale behind them.
Typically, local governments and taxing districts are required to file truth in taxation documents to inform taxpayers of proposed tax increases.
To fill out a truth in taxation document, local governments must detail their proposed tax rates, the amount of tax increase, and provide a rationale for the increase, along with the appropriate forms as mandated by state law.
The purpose of truth in taxation is to ensure transparency and accountability in how public tax dollars are spent and to provide taxpayers with information regarding any increases in property taxes.
The report must include proposed tax rates, any changes from previous rates, the total tax revenue expected, and the justification for any tax increases.
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