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CITY PROPERTY VALUES
<br />2006 Indicated Market Value of Taxable Property: $2,205,729,405*
<br />Indicated market value is calculated by dividing the City's 2005 taxable market value of
<br />$1,927,807,500 by the 2005 sales ratio of 87.4% for the City as determined by the State Department
<br />of Revenue. (2006 sales ratio not yet available.) Excludes mobile home valuation of $2,189,500.
<br />2006 Taxable Net Tax Capacity: $21,550,395*
<br />2006 Net Tax Capacity
<br />Less: Captured Tax Increment Tax Capacity
<br />Contribution to Fiscal Disparities
<br />Plus: Distribution from Fiscal Disparities
<br />2006 Taxable Net Tax Capacity
<br />Excludes mobile home valuation of $21,895.
<br />2006 Taxable Net Tax Capacity by Class of Property(a)
<br />(a)
<br />(b)
<br />Real Estate:
<br />Residential Homestead
<br />Commercial /Industrial and Public Utility(b)
<br />Residential Non - Homestead
<br />Agricultural and Residential
<br />Seasonal /Recreational
<br />Personal Property
<br />Total
<br />$16,327,290
<br />3,657,025
<br />929,731
<br />348,059
<br />288,290
<br />$21,550,395
<br />$20,941,335
<br />(422,284)
<br />(1,172,918)
<br />2,204,262
<br />$21,550,395
<br />Reflects adjustments for fiscal disparities and captured tax increment tax capacity.
<br />Excludes mobile home valuation of $21,895.
<br />Trend of Values
<br />(a)
<br />(b)
<br />2006
<br />2005
<br />2004
<br />2003
<br />2002
<br />Indicated
<br />Market Value(a)
<br />$2,205,729,405
<br />1,984,345,309
<br />1,878,743,819
<br />1,635,386,691
<br />1,409,349,451
<br />75.8%
<br />17.0
<br />4.3
<br />1.6
<br />1.3
<br />100.0%
<br />Taxable Taxable Net
<br />Market Value Tax Capacity(b)
<br />$1,927,807,500
<br />1,734,317,800
<br />1,534,933,700
<br />1,339,381,700
<br />1,154,257,200
<br />$21,550,395
<br />19,233,726
<br />17,213,837
<br />15,276,466
<br />12,688,859
<br />Indicated market values are calculated by dividing the City's taxable market value by the aggregate
<br />sales ratio computed for the City each year by the State Department of Revenue.
<br />See Appendix III for an explanation of taxable net tax capacity and the Minnesota property tax
<br />system.
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