Laserfiche WebLink
<br /> <br />PropertyValues(TaxBurden) <br /> <br />City’sMarketValueandTaxCapacity <br />Duetothecurrenteconomicconditions,thetaxablemarketvaluefortheCityisprojectedto <br />increaseby$56.1millionor4.0%to$1.44billion.Fromthis,theTaxCapacityiscalculated(for <br />residentialpropertiesitequatesto1%ofTaxableMarketValue,andvariesbypropertytypefor <br />allothers).TheCity’sTaxCapacityforcalculatingtaxeswasprojectedtoincreaseby4.8%to <br />$15.7million.ThisdecreasedtheCity’staxratefrom25.4141%to25.2829%. <br /> <br />MedianValuedHome <br />Duetocurrenteconomicconditions,theTaxableMarketValueofthemedianvaluedhome <br />withintheCityisprojectedtoincrease4.05%from$372,400to$387,500.TheoverallCityTax <br />burdenincreaseonthemedianvaluedhomeisprojectedtobeapproximately3.9%or$36.63. <br /> <br />PropertyTaxLevies <br />Thetotallevybeingproposedis$4,311,090.Thisrepresentsa$175,750or4.25%increaseover <br />the2020levyof$4,135,340. <br /> <br />AnokaCountysetstheFiscalDisparitieslevyfortheentireSevenCountyMetropolitanArea. <br />Thiswasestablishedbythelegislatureinthe1970’sasameanstomoreevenlydistributethe <br />propertytaxbenefitderivedbycommercialproperties.Citiesareeithera“net”gainerora <br />“net”contributor.ArdenHillsisa“net”gainerandwillcollect$345,797in2021asopposedto <br />$333,462in2020,whichisanincreaseof3.7%. <br /> <br />CityTaxRate <br />TherearetwotypesoftaxratesthatarecalculatedfortheCity.Oneisanettaxcapacitybased <br />rate,andtheotherisamarketvaluebasedrate.Bothratesusethemarketvalueasthe <br />startingpointfordeterminingtherate. <br /> <br />NetTaxCapacityBasedRate <br />TheNetTaxCapacitybasedrateiscalculatedbytakingthelevyanddividingitbytheNetTax <br />Capacity.NetTaxCapacitycalculationisregulatedbytheStateLegislature,whichhascreated <br />twentyͲeight(28)classificationsofpropertyanda“classratepercentage”foreach <br />classification.TheNetTaxCapacityisdeterminedbymultiplyingthemarketvalueofeach <br />propertybytheappropriateclassratepercentage.Thesumtotalofallparceltaxcapacitiesless <br />adjustmentsfortheCity’sFiscalDisparitycontribution,thoseparcelsthathavebeencertifiedin <br />aTaxIncrementFinancing(TIF)developmentdistrict,andtheMVErepresenttheNewTax <br />Capacityforthecity.Currently,theGeneralFundLevyisNetTaxCapacitybased. <br /> <br />13