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Trend of Values
<br /> Assessor's
<br /> Indicated Estimated Taxable Tax
<br /> Market Value(a) Market Value Capacity(b)
<br /> 1999 $442,650,440 $383,067,100 $6,116,003
<br /> 1998 392,499,174 353,614,300 5,713,569(c)
<br /> 1997 364,196,638 335,789,300 5,914,038(0
<br /> 1996 349,640,546 319,921,100 6,234,749
<br /> 1995 337,579,157 312,598,300 5,962,847
<br /> (a) Calculated by dividing the county assessors' estimated market value by the sales ratios determined
<br /> for the City each year by the State Department of Revenue.
<br /> (b) See Appendix 111 for an explanation of tax capacity and the Minnesota property tax system.
<br /> (c) The decrease in taxable tax capacity for 1997 and 1998 was due to a reduction in property tax class
<br /> rates, as detailed in Appendix Ill.
<br /> Ten of the Largest Taxpayers in the City
<br /> 1999 Net
<br /> Taxpayer Type of Property Tax Capacity*
<br /> Glaser Financial Group Inc. Apartments $ 263,280
<br /> St. Anthony Nursing Home/
<br /> Chandler Place Health Facility 194,184
<br /> SuperValu Inc. Grocery 192,916
<br /> St. Marie Company Shopping Mail 163,877
<br /> Equinox Properties Apartments 134,064
<br /> Northern States Power Company Utility 101,035
<br /> Northern Gopher Enterprises Apartments 99,124
<br /> Village North Apartments 97,871
<br /> Individual Commercial 77,662
<br /> Resourcenet International Industrial 58,000
<br /> Total $1,382,013'
<br /> Represents 22.6%of the City's total 1999 taxable net tax capacity.
<br /> CITY INDEBTEDNESS
<br /> Legal Debt Limit
<br /> Legal Debt Limit (2% of Estimated Market Value) $7,661,342
<br /> Less: Outstanding Debt Subject to Limit (-0-)
<br /> Debt Margin as of January 2, 2001 $7,661,342
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