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Trends

Trends. Myron Frans, Commissioner Fall, 2014. Budget Forecast History 2002-2011. $ in billions. Budget Forecast History 2011-2014. $ in billions. School Debt. Jobs Unemployment Rate = 4.3%.

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Trends

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  1. Trends Myron Frans, Commissioner Fall, 2014

  2. Budget Forecast History 2002-2011 $ in billions

  3. Budget Forecast History 2011-2014 $ in billions

  4. School Debt

  5. Jobs Unemployment Rate = 4.3% 01 02 03 04 05 06 07 0809 10 12 14 CES Employment, U.S. Bureau of Labor Statistics

  6. Incidence Snapshot 2008 12.3% 10.3% 9.7% Percent of Income Paid to Taxes > $292 (Top 2%) $41-53 > $130 Annual Household Income ($ Thousands) Other taxes MN income tax Property taxes State & local sales taxes Sources: Minnesota Tax Incidence Study 2011 (Tax Year 2008), MN Dept. of Revenue. (Annual income amounts rounded.)

  7. Incidence Snapshot 2015 State and Local Tax Burden as Percent of Income in 2015 After Impact of 2014 Tax Law Changes (Top 1%)

  8. Minnesota Per-capita Income Rank Among 50 States

  9. Minnesota Property Taxes Paid After Refunds

  10. Property Tax Levies and Refunds

  11. Education Investments Minnesota ranks… • #1 - Average ACT Score (22.9) • #2 – Percent of population with at least a high school diploma (over 90%) • #10 - Percent of population with a bachelor’s degree (over 30%) Data courtesy of the Minnesota Department of Education and Minnesota Office of Higher Education

  12. Minnesota Business Priorities

  13. Minnesota Economy • 3rd Best state to make a living • 4thBest quality of life • 5thStrongest economy • 5th Best infrastructure • 6thBest state for business • 11thIn technology and innovation CNBC Best States for Business Ranking, June 2014 http://www.cnbc.com/id/101758236#. Forbes The Best And Worst States To Make A Living In 2014, June 2014 http://www.forbes.com/sites/kathryndill/2014/06/09/the-best-and-worst-states-to-make-a-living-in-2014/

  14. Sales Tax in Minnesota

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