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CITY OF LAKE ELMO, MINNESOTA
<br />TAX CAPACITY AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY
<br />LAST TEN YEARS
<br />
<br />
<br />117
<br />Total % of Tax
<br />Taxable Total Adjusted City Capacity to
<br />Payable Market Real Personal Tax Tax Urban Tax Total Estimated
<br />Year Value Property Property Capacity Capacity (1)Rate Market Value
<br />2015 1,184,578,800$ 12,938,515$ 243,104$ 13,181,619$ 13,072,105$ 23.798 1.11%
<br />2016 1,224,463,300 13,386,725 266,218 13,652,943 13,441,204 23.121 1.12%
<br />2017 1,316,618,700 14,520,320 292,938 14,813,258 14,631,062 20.018 1.13%
<br />2018 1,452,554,500 16,054,044 326,744 16,380,788 15,359,350 22.442 1.13%
<br />2019 1,648,277,500 18,184,317 345,172 18,529,489 18,249,623 22.927 1.12%
<br />2020 1,901,067,300 20,907,484 345,800 21,253,284 20,021,726 23.476 1.12%
<br />2021 2,009,618,900 21,975,125 374,464 22,349,589 21,116,953 23.638 1.11%
<br />2022 2,231,230,900 24,469,045 287,646 24,756,691 23,487,099 30.546 1.11%
<br />2023 2,862,780,200 31,639,649 309,460 31,949,109 30,606,781 24.064 1.12%
<br />2024 3,186,775,200 35,724,938 302,982 36,027,920 34,640,436 24.631 1.13%
<br />(1) Tax Capacity adjusted for captured tax increment, fiscal disparities, and transmission lines.
<br />Tax Capacity
<br />Valuations are determined as of January 1 of year preceding tax collection year.The County determines a property's tax capacity by
<br />multiplying a property's estimated market value times the property's class rate which is determined by its use.The total City tax levy
<br />divided by the total City tax capacity determines a percentage,the City tax rate,that is applied to each parcel's tax capacity to determine
<br />the tax amount.
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