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19 | Page <br /> <br />Again, the local tax rate is the ratio of the city’s local levy (total levy less the fiscal disparity <br />distribution) to tax capacity. This rate is then applied to the tax capacity of individual <br />properties to determine the local tax due. Lake Elmo’s final local tax rate for 2025 was <br />26.84%. The estimated local tax rate for the above levy is 29.57%, an increase of 2.73 <br />percentage points. <br />This is a more substantial rate increase than in the last few years, so we’ve broken out the <br />rate change a bit more below. You can see how the Capital Levies are increasing as we <br />start to save money for future infrastructure projects, vehicles and equipment, etc.; a <br />practice that is relatively new to the city. The debt levies are generally for street projects, <br />though a couple cover a small amount of equipment or refunding of old debt, and 2021A <br />(the largest, in dark blue) includes the City Center and Public Works building projects. <br /> <br /> <br /> <br /> - <br /> 500,000,000 <br /> 1,000,000,000 <br /> 1,500,000,000 <br /> 2,000,000,000 <br /> 2,500,000,000 <br /> 3,000,000,000 <br /> 3,500,000,000 <br />2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 <br />Estimated Market Value <br />Existing / MV Change / New Improvements <br />New <br />Improvements <br />Existing MV <br />Change <br />Existing MV <br />(PY) <br />0.00% <br />5.00% <br />10.00% <br />15.00% <br />20.00% <br />25.00% <br />30.00% <br />35.00% <br />2025 2025 2026 Proposed 2026 Proposed <br />Stacked Effective Tax Rates for each Portion of the Levy <br />All Capital Levies <br />Street Maintenance Levy <br />Vehicle & Equipment Levy <br />Ballpark Levy <br />Park CIP Levy <br />City Center CIP Levy <br />Infrastructure Reserve Levy <br />All Debt Service Levies <br />2025A <br />2024A <br />2023A <br />2022A <br />2021A <br />2019A <br />2018 Certificate <br />2017A <br />2016A <br />2014A <br />General Fund less Fiscal Disp* <br />Capital <br />Levies <br />Debt <br />Levies <br />General <br />Fund <br />less <br />Fiscal <br />Disparities