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<br />8.74% levy increase impact analysis:
<br />The tables below demonstrate the impact of an 8.74% levy increase to a selection of single-
<br />family residential homes and Commercial/Industrial Properties.
<br />
<br />Note: Highlighted in yellow in the first table is the median single-family home value in the City
<br />of Little Canada per the Ramsey County Assessor’s Office.
<br />Taxable Market Value City Tax Taxable Market Value City Tax
<br />250,000 637.15 265,200 658.49 21.34$ 3.35%
<br />355,300 905.52 376,902 935.85 30.33$ 3.35%
<br />550,000 1,401.73 583,440 1,448.68 46.95$ 3.35%
<br />650,000 1,656.59 689,520 1,712.08 55.49$ 3.35%
<br />800,000 2,038.88 848,640 2,107.17 68.29$ 3.35%
<br />% ChanageTax Year 2023 Tax Year 2024
<br />Levy Increase 8.74%
<br />Increase/Decrease
<br />RESIDENTIAL SINGLE HOME - Market Value Change 6.08%
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<br />The city tax increase on a median home with a taxable market value of $355,300 will be $30.33
<br />or 3.35% based on the proposed levy increase of 8.74%.
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<br />Note: The example highlighted in yellow in the table below is the Porterhouse Restaurant
<br />located at 235 Little Canada Rd E. This property has a proposed increase of $525 or 21.18%.
<br />Taxable Market Value City Tax Taxable Market Value City Tax
<br />828,900 2,479.28$ 1,021,868 3,004.43 525$ 21.18%
<br />1,500,000 4,581.87$ 1,849,200 5,529.64 948$ 20.69%
<br />3,000,000 9,280.98$ 3,698,400 11,173.75 1,893$ 20.39%
<br />5,000,000 15,546.71$ 6,164,000 18,699.22 3,153$ 20.28%
<br />15,000,000 46,875.13$ 18,492,000 56,326.86 9,452$ 20.16%
<br />COMMERCIAL/INDUSTRIAL - Market Value Change 23.28%
<br />Tax Year 2023 Tax Year 2024 Increase/Decrease % Chanage
<br />Levy Increase 8.74%
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<br />As noted above Commercial/Industrial properties will experience a larger impact since the market
<br />value change (23.28%) is significantly higher than a single home residential property (6.08%).
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<br />Please note that property market values are determined by the County Assessor and not by the City
<br />of Little Canada. The data maps on the next page show the current values and percentage increases
<br />for median single-family homes and median commercial properties in the City of Little Canada as
<br />presented by the County Assessor’s Office and used in the above analysis tables.
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