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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 2026 is $16,999,656 ,which is an increase of 8.21% from prior year.
<br />Fiscal disparities program is a tax-base sharing program in the metro area. It reduces large
<br />differences in property tax wealth between communities with a lot of commercial-industrial tax
<br />base and those with little. The goal of the program is to promote orderly and efficient growth,
<br />improve equity, strengthen economic competitiveness, and encourage land uses that protect the
<br />environment and increase livability.
<br />o Contributions to the shared pool are based on 40% of the growth in commercial,
<br />industrial, and public utility property tax base since 1971.
<br />o Distributions of the shared pool are based on market value of all property tax per
<br />person, compared to the average market value per person. Cities with less market
<br />value wealth per capita receive a larger distribution from the pool than cities with
<br />greater market value wealth per capita.
<br /> Final Final Est. Final Est. Final
<br />Tax Capacity %Tax Capacity %Tax Capacity %Tax Capacity %
<br />Values Change Values Change Values Change Values Change
<br />2022/2023 2023/2024 2024/2025 2025/2026
<br />TAXABLE VALUATIONS:
<br /> Real Estate 17,378,323$ 10.35% 19,414,661$ 11.72% 19,302,123$ -0.58% 20,114,000$ 4.21%
<br /> Personal Property 112,262 3.55%119,182 6.16%128,052 7.44%168,140 31.31%
<br /> SUBTOTALS:17,490,585 10.30% 19,533,843 11.68% 19,430,175 -0.53% 20,282,140 4.38%
<br /> Fiscal Disparities:
<br /> Contribution (2,268,439) -2.29% (2,317,381) 2.16% (2,720,620) 17.40% (2,755,580) 1.29%
<br />
<br /> Tax Increment (803,036) 12.27% (916,269) 14.10% (999,585) 9.09% (526,904) -47.29%
<br /> TOTALS:14,419,110$ 12.48% 16,300,193$ 13.05% 15,709,970$ -3.62% 16,999,656$ 8.21%
<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 2025 and 2026, the preliminary City’s tax rate
<br />is expected to increase from 27.896 to 28.234, a 1.21% increase. As of 2025 the City’s tax rate
<br />was the 3rd lowest in Ramsey County.
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