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MINUTES <br />CITY COUNCIL <br />SEPTEMBER 14, 1994 <br />commercial/industrial values on a metro-wide basis. <br />The 1994 value of that pool was $280 million with the <br />1995 value at $240 million due to the restructuring of <br />commercial/industrial property values. <br />The City Administrator presented a levy comparison <br />showing the effect on the City's tax rate at varying <br />levy increase percentages based on market value <br />increases. The Administrator noted that even if the <br />City does not increase its levy by $1, property owners <br />are likely to see tax increases given the County's <br />increases in values for residential properties. The <br />Administrator reported that the 1994 median home value <br />in Little Canada was $95,150. This amount is up by <br />approximately 5% for 1995 at $99,950. Residential <br />properties in Little Canada have seen market value <br />increases while commercial/industrial and apartment <br />properties have had flat or declining market values. <br />Scalze asked if market value adjustments are based on <br />sales. <br />The City Administrator replied that sales are supposed <br />to be the basis for the County's adjustment of market <br />values. The Administrator also pointed out that Ramsey <br />County has a fairly high sales to market value ratio. <br />Morelan pointed out that the City has no control over <br />the County's assessment system. <br />Scalze pointed out that there were problems in the past <br />with market values for condominiums in the City being <br />undervalued. <br />The Administrator pointed out that a concern would be <br />if the sales ratio were higher in Little Canada than in <br />Roseville. If market values and tax capacities are <br />higher in Little Canada than Roseville, Little Canada <br />property owners may be paying a higher proportion of <br />property taxes for overlapping taxing jurisdictions. <br />Scalze pointed out that this would be especially true <br />given the shared school district and the fact that the <br />school district is responsible for approximately 50% of <br />the property tax bill. <br />Morelan stated that short of lobbying the Assessor's <br />office, individual property owners can contest their <br />10 <br />