|
<br />7.06% increase levy impact analysis:
<br />The bellow tables present a 7.06 % levy increase impact to single home residential properties as well as
<br />Commercial/Industrial Properties.
<br />
<br />Note: Highlighted in yellow in the first table is the median single-family home value in the City of Little
<br />Canada per the Ramsey County Assessor’s Office.
<br />
<br />
<br />
<br />As noted above Commercial/Industrial properties will experience a larger impact since the Market Value
<br />Change (23.28%) is significantly higher than a single home residential property (6.08%).
<br />
<br />Please note that Property Market Values are determined by the County Assessor and not by the City.
<br />The bellow data maps show the current values and % increases for median single family and median all
<br />commercial in the City of Little Canada as presented by the County Assessor’s Office and used in the
<br />above analysis tables.
<br />
<br />Taxable Market Value City Tax Taxable Market Value City Tax
<br />250,000 637.15 265,200 647.87 10.72$ 1.68%
<br />300,000 764.58 318,240 777.44 12.86$ 1.68%
<br />355,300 905.52 376,902 920.75 15.23$ 1.68%
<br />400,000 1,019.44 424,320 1,036.58 17.14$ 1.68%
<br />450,000 1,146.87 477,360 1,166.16 19.29$ 1.68%
<br />500,000 1,274.30 530,400 1,295.73 21.43$ 1.68%
<br />550,000 1,401.73 583,440 1,425.30 23.57$ 1.68%
<br />650,000 1,656.59 689,520 1,684.45 27.86$ 1.68%
<br />750,000 1,911.45 795,600 1,943.60 32.15$ 1.68%
<br />Tax Year 2024
<br />Levy Increase 7.06%
<br />Increase/Decrease % Chanage
<br />RESIDENTIAL SINGLE HOME ‐ Market Value Change 6.08%
<br />Tax Year 2023
<br />Taxable Market Value City Tax Taxable Market Value City Tax
<br />500,000 1,448.88$ 616,400 1,738.39 290$ 19.98%
<br />831,800 2,488.45$ 1,025,443 2,966.70 478$ 19.22%
<br />1,500,000 4,581.87$ 1,849,200 5,440.41 859$ 18.74%
<br />2,000,000 6,148.24$ 2,465,600 7,291.42 1,143$ 18.59%
<br />2,500,000 7,714.61$ 3,082,000 9,142.43 1,428$ 18.51%
<br />3,000,000 9,280.98$ 3,698,400 10,993.44 1,712$ 18.45%
<br />4,000,000 12,413.98$ 4,931,200 14,695.46 2,281$ 18.38%
<br />5,000,000 15,546.71$ 6,164,000 18,397.48 2,851$ 18.34%
<br />10,000,000 31,210.92$ 12,328,000 36,907.57 5,697$ 18.25%
<br />15,000,000 46,875.13$ 18,492,000 55,417.91 8,543$ 18.22%
<br />Levy Increase 7.06%
<br />COMMERCIAL/INDUSTRIAL ‐ Market Value Change 23.28%
<br />Tax Year 2023 Tax Year 2024 Increase/Decrease % Chanage
|