The Star Tribune published an informative story about the rise in property taxes throughout the metro. Part of the issue has been the legislature has gamed the system of property taxation and now that is starting to unwind.
If you look at your tax statements, you will often see two different numbers. One is an estimate market value and one might be a taxable value or limited value.  Those two numbers are now supposed to be equal by 2009.
During the boom, it was not uncommon to see those values be 10-20% under the true market value of the home. As the tax value gets increased to market value, some homeowners are going to see a substantial hike in their tax bill.
Remember, the government is going to get their first. What ever’s left is yours.