Minnesota property taxes set for 2015 increase

ST. PAUL, Minn. (AP) - Property taxes owed this year are set to increase by 3.4 percent on average statewide.

The Minnesota Department of Revenue released an analysis Friday showing a $286 million increase in planned property tax collections for 2015. That's a slightly smaller increase from previous estimates released in the fall. But the statewide increase doesn't paint the whole picture of what taxpayers will see on their bills.

Lawmakers last year approved larger refunds and tax credits that may soften the blow. The actual increases vary widely by city, county and school district.

Property tax bills also factor in value, location and type of property.