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21 | P a g e <br />Understanding Little Canada’s Local Economy <br />housing. Although these properties may be similar in form and density, their tax treatment differs <br />significantly under state law, resulting in substantial differences in tax contribution. <br />Figure 23 – Apartment Tax Classification and Property Tax Implications <br />Tax Class Number of Parcels <br />Average Tax Per <br />Acre <br />Total Tax <br />Produced <br />Average Tax Per <br />Unit <br />4A6 25 $37,877 $3,267,586 $2,210 <br />4D 6 $15,687 $162,857 $541 <br />Source – Little Canada GIS Data, Courtesy of Bolton and Menk & Ramsey County Open GIS <br />Class 4A properties generate more than double the average tax revenue per acre of Class 4D <br />properties. On a per-unit basis, 4A properties generate approximately four times as much <br />property tax as 4D properties. While both types of properties are multifamily housing, the <br />difference in state tax treatment results in materially different fiscal outcomes. <br /> <br />Highest Property Tax Contributors <br />The tables below identify the highest tax-contributing parcels in the city, both on a per-acre basis <br />and in total tax paid. <br />Figure 24 – Highest Per Acre Payers in Little Canada <br />Property Tax Per Acre <br />The Lodge (2800 Rice) $136,572 <br />Dart Advantage Warehousing (3055 Spruce) $89,816 <br />737 Carla Lane (Single-Family Home) $75,683 <br />Market Square Town Offices (Middle Street) $72,166 <br />Cardigan Ridge (3300 Rice Street) $71,080 <br />2990 Rice Office Condos $69,802 <br />785 Keller (Single-Family Home) $66,339 <br />The Village at Little Canada (125 Little Canada Road) $65,587 <br />777 Carla Lane (Single-Family Home) $63,585 <br />Royal Credit Union (2640 Rice Street) $62,691 <br />Source – Ramsey County Open GIS <br />Of the ten highest property tax contributors on a per-acre basis, six are located on or directly <br />adjacent to Rice Street, reflecting the fiscal intensity of development along this corridor. <br /> <br /> <br /> <br />6 Apartment properties classified as 4A and containing fewer than 10 units were excluded from this analysis to <br />ensure comparability between 4A and 4D multifamily properties.