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The chart below shows Estimated Market Value (EMV) changes in the past 10 years. The green bar is the <br />market value from each prior year, the blue bar shows the market value increase to that prior year existing <br />value, and the red bar shows the market value of new improvements. EMV will follow similar trends as tax <br />capacity, but they are different measures. <br />Again, the local tax rate is the ratio of the city’s local levy (total levy – fiscal disparity distribution) to tax <br />capacity. This rate is then applied to the tax capacity of individual properties to determine the local tax due. <br />Lake Elmo’s final local tax rate for 2025 was 26.63%. The estimated local tax rate for the above levy is <br />31.72%, an increase of 4.88 percentage points. <br />This is a more substantial rate increase than in the last few years, so we’ve broken out the rate change a bit <br />more below. You can see how the Capital Levies are increasing as we start to save money for future <br />infrastructure projects, vehicle and equipment, a practice that is relatively new to the city. The debt levies <br />are generally for street projects, though a couple cover a small amount of equipment or refunding of old <br />debt, and 2021A (the largest, in dark blue) includes the City Center and Public Works building projects. <br />(See Appendix for full data breakdowns.)