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City of Lino Lakes <br />Residential Homestead <br />City Tax Impact Calculator <br />September 6, 2022 <br />Taxes Payable 2022 Taxable Market Value (TMV) <br />$ 325,514 <br />Taxes Payable 2023 Taxable Market Value (TMV) <br />$ 402,400 <br />City of Lino Lakes 2023 Tax Rate <br />34.073% <br />Pay 2022 <br />Pay 2023 <br />TMV $ 325,514 <br />TMV <br />$ 402,400 <br />Homestead Exclusion $ (7,944) <br />Homestead Exclusion <br />$ (1,024) <br />TMV after exclusion $ 317,570 <br />TMV after exclusion <br />$ 401,376 <br />Net Tax Capacity $ 3,176 <br />Net Tax Capacity <br />$ 4,014 <br />City Tax Rate 40.154% <br />City Tax Rate <br />40.154% <br />City Tax $ 1,275 <br />City Tax <br />$ 1,612 <br />Net Tax Capacity <br />Tax Capacity <br />City Tax Rate <br />City Tax <br />$ 401,376 <br />24% TMV % Increase <br />26% TMV after exclusion % Increase <br />$ 337 Increase due to taxable market value increase & homestead exclusion decrease <br />$ 4,014 <br />34.073% <br />$ 1,368 $ (244) Decrease due to city tax rate decrease <br />$ 92 Total increase in city taxes payable <br />For more information on Minnesota's property tax system please reference League of Minnesota Cities Property Taxation 101 Memo: <br />his://www.imc.ora/resources/property-taxation-101 / <br />