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<br />the General Capital Fund levy and increase the levy from $100,000 in 2024 to $130,000 in 2025. The
<br />General Capital Fund levy was introduced for the first time in 2024 as a place holder to replace a possible
<br />debt service levy for the construction of a public gathering space building. Currently the construction of
<br />the building is scheduled in the City’s ten-year CIP plan in 2026. This is a strategic move that is meant
<br />to help ease into the debt service payment rather than introduce it all at once.
<br />
<br />9.51% Increase Levy Impact Analysis:
<br />
<br />The bellow tables present a 9.51 % levy increase impact to single home residential properties as well as
<br />Commercial/Industrial Properties.
<br />
<br />Note: Highlighted in yellow in the first table is the median single-family home value in the City of Little
<br />Canada per the Ramsey County Assessor’s Office. In the second table we included in the analysis,
<br />highlighted in yellow, the Porterhouse restaurant.
<br />Taxable Market Value City Tax Taxable Market Value City Tax
<br />250,000 620.74 250,864 704.21 83.47$ 13.45%
<br />376,000 933.59 377,300 1,059.13 125.54$ 13.45%
<br />550,000 1,365.62 551,902 1,549.25 183.63$ 13.45%
<br />650,000 1,613.92 652,247 1,830.94 217.02$ 13.45%
<br />800,000 1,986.36 802,766 2,253.46 267.10$ 13.45%
<br />Increase/Decrease
<br />RESIDENTIAL SINGLE HOME - Market Value Change 0.35%
<br />% ChanageTax Year 2024 Tax Year 2025
<br />
<br />Taxable Market Value City Tax Taxable Market Value City Tax
<br />877,400 2,841.98$ 905,828 3,321.66 480$ 16.88%
<br />1,500,000 4,948.51$ 1,548,600 5,780.42 832$ 16.81%
<br />3,000,000 10,023.91$ 3,097,200 11,704.28 1,680$ 16.76%
<br />5,000,000 16,790.93$ 5,162,000 19,602.95 2,812$ 16.75%
<br />15,000,000 50,626.80$ 15,486,000 59,095.47 8,469$ 16.73%
<br />COMMERCIAL/INDUSTRIAL - Market Value Change 3.24%
<br />Tax Year 2024 Tax Year 2025 Increase/Decrease % Chanage
<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.
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