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<br />General Fund budget. More details are provided under the Expenditures section of this memo
<br />under Contractual Services.
<br />
<br />The City has been proactive in identifying cost-effective ways to deliver services to the community.
<br />The City has traditionally contracted for its water supply, police and fire protection, and IT services
<br />since it is cost-effective to do so. This 2025 Operating Budget continues to provide these services
<br />through annual or multi-year contracts.
<br />Community Trends
<br />
<br />According to the 2020 Census, the population of Little Canada was 10,819 living in 4,601
<br />households.
<br />The Ramsey County Assessor determines the market value for all property in the City. It is this
<br />market value that is applied to the class rates assigned by the State and is used to determine a
<br />property’s taxable value. The County estimates the City’s preliminary taxable value for taxes
<br />payable in 2025 is $15,791,179 ,which is a decrease of 3.12% from prior year.
<br />Fiscal disparities program is a tax-base sharing program in the metro area. It reduces large
<br />differences in property tax wealth between communities with a lot of commercial-industrial tax
<br />base and those with little. The goal of the program is to promote orderly and efficient growth,
<br />improve equity, strengthen economic competitiveness, and encourage land uses that protect the
<br />environment and increase livability.
<br />o Contributions to the shared pool are based on 40% of the growth in commercial,
<br />industrial, and public utility property tax base since 1971.
<br />o Distributions of the shared pool are based on market value of all property tax per
<br />person, compared to the average market value per person. Cities with less market
<br />value wealth per capita receive a larger distribution from the pool than cities with
<br />greater market value wealth per capita.
<br />Final Final Final Est. Final
<br />Tax Capacity % Tax Capacity % Tax Capacity % Tax Capacity %
<br />Values Change Values Change Values Change Values Change
<br />2021/2022 2022/2023 2023/2024 2024/2025
<br />TAXABLE VALUATIONS:
<br /> Real Estate 15,748,259$ 1.61% 17,378,323$ 10.35% 19,414,661$ 11.72% 19,399,616$ -0.08%
<br /> Personal Property 108,410 -47.44%112,262 3.55%119,182 6.16%128,052 7.44%
<br /> SUBTOTALS:15,856,669 0.97% 17,490,585 10.30% 19,533,843 11.68% 19,527,668 -0.03%
<br /> Fiscal Disparities:
<br /> Contribution (2,321,589) 13.03% (2,268,439) -2.29% (2,317,381) 2.16% (2,720,620) 17.40%
<br />
<br /> Tax Increment (715,299) -0.50% (803,036) 12.27% (916,269) 14.10% (1,015,869) 10.87%
<br /> TOTALS:12,819,781$ -0.87% 14,419,110$ 12.48% 16,300,193$ 13.05% 15,791,179$ -3.12%
<br />
<br />The City’s property tax levy is divided by the taxable value to determine the City’s tax rates,
<br />which is applied to each property’s tax capacity to determine that property’s City property tax
<br />amount before any credits are applied. Between 2024 and 2025, the preliminary City’s tax rate
<br />is expected to increase from 24.829 to 27.752 an 11.77% increase. As of 2024 the City’s tax
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