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06-16-93 03: 02 PM :001 <br /> I <br /> Post-It"brand fax transmittal memo 7671 1#of mom ► 1� <br /> DProm f <br /> oti, '% eV ` C.- inJhs S v4�4e/ <br /> MEMORANDUM ceC"`�re-P }4104at RoisyCC41� Jay <br /> Dept, Phalle <br /> vnoe,.r a ac-,O f <br /> Fut, F8x# <br /> DATE: June 3, 1993 <br /> TO: County Board of Equalization <br /> FROM: Brian Ducklov, Assessor t,nicr2 <br /> SUBJECT: 1993 Ramsey County Valuation Summary <br /> The 1993 market value estimates for properties in Ramsey County have <br /> been completed. Overall, real estate market values for Ramsey County <br /> increased 8 tenths of 1 percent in 1993 over 1992 market values. The <br /> taxable market value for Ramsey County for 1993 is $15.65 billion <br /> dollars. <br /> Residential market values increased 1.9 percent for the 1993 <br /> assessment over 1992 market values. The County-wide adjusted sales <br /> ratio for residential property is 95.0 percent. <br /> Extensive work vas done on the residential computer model for the 1993 <br /> market values. Market values vere allowed to increase or decrease to <br /> reach their target value generated by the computer model. This <br /> increased reliance on the model value will give us better assessment <br /> uniformity in that both higher and lower valued properties will be <br /> valued at or very close to actual market value. <br /> Apartment market values decreased 1.2 percent for the overall County. <br /> The apartment market remains relatively soft. The County-vide <br /> adjusted sales ratio for apartment properties is 98.8 percent. <br /> Commercial Industrial market values declined 3.6 percent. Market <br /> values for commercial industrial properties continue to slide with no <br /> apparent signs of recovery in the near future. The County-wide <br /> adjusted sales ratio for commercial industrial properties is 96.4 <br /> percent. <br /> Please take some time to reviev the information in the booklet. You <br /> should find the information interesting and informative. If you have <br /> any questions or comments about the Board of Equalization or the <br /> assessment process, please call me at 266-2103. Your comments and <br /> suggestions vill be appreciated. <br /> sm <br /> 1 <br />