Laserfiche WebLink
<br />TAX CAPACITY RATES <br />General Fund 23.546 25.586 2.04 8.67% <br />Fire Equipment 0.970 0.979 0.01 0.95% <br />Infrastructure Fund 0.970 0.979 0.01 0.95% <br />Total 25.486 27.545 2.06 8.08% <br /> Change % Change <br />2024 Proposed Tax Capacity Rates Commpared with <br />2023 <br />Fund <br />2023 <br />Rate <br />3.00% COLA <br />2024 <br /> <br />The Ramsey County Finance Division have not yet provided preliminary values for Tax Capacity <br />and Fiscal Disparities, as a result last year’s numbers were used to calculate the Tax Capacity Rates <br />noted in the above table. If no changes in taxable valuations (worst case scenario) an 8.08% <br />increase in tax rate is expected. This is not anticipated, and as an example the 2023 Tax Rate <br />represented a 0.25% decrease from 2022. <br />City staff does not expect large differences from the information presented above once the final <br />values are provided, however an increase in overall taxable valuations is expected. A 5% increase <br />will result in a 26.233 tax rate, which is a 2.93% increase from last years tax rate of 25.486. <br /> <br />The information, including the valuation of Little Canada’s Tax Increment Finance (TIF) districts, <br />is expected to be finalized and provided by the end of August or early September. <br /> <br /> <br />General Fund 23.546 24.368 0.82 3.49% <br />Fire Equipment 0.970 0.933 (0.04)-3.86% <br />Infrastructure Fund 0.970 0.933 (0.04)-3.86% <br />Total 25.486 26.233 0.75 2.93% <br /> Change % Change <br />2024 Proposed Tax Capacity Rates Commpared with <br />2023 <br />Fund <br />2023 <br />Rate <br />3.00% COLA <br />2024