HomeMy WebLinkAbout4 - Property Tax Levy and Estimates and Impact - FY 2018 - 8-22-17CITY OF LAKE ELMO
RESIDENTIAL ESTIMATED CITY SHARE OF PROPERTY TAXES
2018 PRELIMINARY PROPERTY TAX LEVY
25.10% INCREASE
As of 8-22-17
* These are estimated figures at particular price points.
Homes at the price points will not experience these exact changes.
Assessed Market Val.Taxable Taxable Estimated City Tax Dollar Percent
2016 For 2017 For Market Market 2017 2018 Change Change
Pay 2017 Pay 2018 Value 2017 Value 2018
150,000 150,000 126,260.00 126,260.00 252.73 287.34 34.61 13.7%
250,000 250,000 235,260.00 235,260.00 470.92 535.40 64.48 13.7%
375,800 375,800 372,382.00 372,382.00 745.40 847.47 102.07 13.7%
425,000 425,000 425,000.00 425,000.00 850.72 967.22 116.49 13.7%
500,000 500,000 500,000.00 500,000.00 1,000.85 1,137.90 137.05 13.7%
600,000 600,000 600,000.00 600,000.00 1,251.06 1,422.38 171.31 13.7%
700,000 700,000 700,000.00 700,000.00 1,501.28 1,706.85 205.58 13.7%
800,000 800,000 800,000.00 800,000.00 1,751.49 1,991.33 239.84 13.7%
900,000 900,000 900,000.00 900,000.00 2,001.70 2,275.80 274.10 13.7%
Assumptions:
2017 and 2018 tax capacity rate based on Washington County information.
Tax capacity rates increase from 1% to 1.25% for values over $500,000.
= Median Value Home in Lake Elmo