Freeborn County property taxes will show a steep increase in the next year, mainly due to the repayment of $26 million bonding for the courthouse, according to county officials. A notice of tax increase estimates was mailed out to property owners, and a hearing will be held next week on the issue.

The local tax levy will increase by 28.5 percent, from $8,688,703 to $11,160,539. It is the largest increase in the past ten years in which the increases have all been less than 10 percent.

Before 2000, the levy increase was extremely low. Between 1994 and 1997, there was no increase. But, that changed to 7.4 percent in 2001 and 9.9 percent in this year.

County officials explained that the increases over the past decade are still below the cost of living increase in the period that is 26.52 percent. But, the story will to be different with the next year’s increase. That will push up the levy growth since 1992 to 65 percent.

The levy is spread out to the properties, and the rates depend on the type and value of those properties. Total budget expenditure, funded by the levy, state aid, and other state and federal money, is $31,528,965, increasing by 11.4 percent from this year’s $28,307,874.

A truth in taxation hearing will be held by the county Dec. 5 at the county offices. The hearing mandated by the state. Any person who has questions about the new tax rates can attend.