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Twin Cities, MN Permit #1962 Arden Hills, MN 55112-5734 . I n I-694 project schedule update Postal Customer s Highway 96/10 project gets Council OK i Beekman, Silseth Honored d e Notes from the City Council ast month I wrote about our snow What this means is that Arden Hills did about 4 percent in 2011, the average home plowing improvements. Who not fare well tax wise under the new value in Arden Hills was down 1 percent. would have thought that it would MVE program. The median home value While home values have dropped since the in Arden Hills is $278,000. The MVE be mid-to-end of January as I write this housing crisis, our homes have held their article and the trucks have plowed only value better than other cities. The down - to this years City property tax increase on side is with strong home values we end up snowfall. Our trucks have put down salt on a median home. For homes with values getting less Market Value Exclusion. Of several occasions, but that is about it.greater than the median, the increase was course, having stronger home values is bet - more, and for homes valued less than the ter of the two. I thought I would take this occasion to talk median the impact was less. Cities and about something that is going to happen, counties need to take this into considerIncluded in this edition of Arden Hills - namely property taxes. Two things are ation when setting their tax levies. is information regarding various Notes certain in this life, death and taxes. As you development efforts in the City. In this soft The City Council decided to lower the economy, it is a positive to see the develop know the State of Minnesota had a dif know the State of Minnesota had a difknow the State of Minnesota had a dif-- 2012 City levy increase to 1.8 percent. ment of homes and businesses being added including a State government shut down. and upgraded. The legislation that was enacted last year - will have an impact on cites and counties cial impact of the new MVE program on Sincerely, this year. homeowners. One of the changes was the elimination The good news is that while the average of the Market Value Homestead Credit David Grant, Mayor (MVHC) in favor of a new calculation called the Market Value Exclusion (MVE). Ramsey County is looking for election judges of a home is excluded from tax calcula - E tions. As home values rise the exclusion is general election on November 6. Since 2012 is a presidential el fully eliminated at about $415,000. - Naturally communities that have higher value homes end up getting less exclu - - sion and subsequently less credit to offset taxes. As it turns out, Arden Hills has the second highest average home value in has the highest.