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Trend of Values
<br /> Assessor's
<br /> • Indicated Estimated Taxable Tax
<br /> Market Value(a) Market Value Capacity(b)
<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 /> 1994 323,261,376 305,482,000 5,876,740
<br /> 1993 309,898,854 297,502,900 5,571,043
<br /> (a) Calculated by dividing the county assessors'estimated market value by the sales ratio determined for
<br /> the City each year by the State Department of Revenue.
<br /> (b) See Appendix II for an explanation of tax capacity and the Minnesota property tax system.
<br /> (c) The decrease in taxable tax capacity for 1997 was due to a reduction in property tax class rates, as
<br /> detailed in Appendix 11.
<br /> Ten of the Largest.Taxpayers in the City
<br /> 1997 Net
<br /> Taxpayer Type of Property Tax Capacity=
<br /> St. Mane Company Shopping Mall $ 227,078
<br /> Glaser Financial Group Inc. Apartments 241,425
<br /> SuperValu Inc. Convenience Stores 166,080
<br /> Northern States Power Company Utility 153,380
<br /> Equinox Properties Apartments 152,738
<br /> St. Anthony Nursing Home/
<br /> Chandler Place Health Facility 134,669
<br /> Northern Gopher Enterprises Apartments 110,200
<br /> Individual Commercial 87,810
<br /> St. Anthony Business Center Corp. Commercial 60,950 _
<br /> Village North Apartments 58,122
<br /> Total $1,392,452*
<br /> Represents 24% of the City's total 1997 taxable net tax capacity.
<br /> CITY INDEBTEDNESS
<br /> Legal Debt Limit
<br /> Legal Debt Limit (2% of Estimated Market Value) $6,715,786
<br /> Less: Outstanding Debt Subject to Limit (_0_)
<br /> Debt Margin as of January 2, 1999 $6,715,786
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