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<br /> <br />PropertyValues(TaxBurden) <br /> <br />City’sMarketValueandTaxCapacity <br />Duetothecurrenteconomicconditions,thetaxablemarketvaluefortheCityisprojectedto <br />increaseby$2.7millionor0.2%to$1.44billion.Fromthis,theTaxCapacityiscalculated(for <br />residentialpropertiesitequatesto1%ofTaxableMarketValue,andvariesbypropertytypefor <br />allothers).TheCity’sTaxCapacityforcalculatingtaxeswasprojectedtodecreaseby1.8%to <br />$15.4million.ThisplusthechangeinthelevyisincreasingtheCity’staxratefrom25.0893%to <br />26.5508%. <br /> <br />MedianValuedHome <br />Duetocurrenteconomicconditions,theTaxableMarketValueofthemedianvaluedhome <br />withintheCityisprojectedtodecrease0.75%from$387,500to$384,600.TheoverallCityTax <br />burdenincreaseonthemedianvaluedhomeisprojectedtobeapproximately5.0%or$48.05. <br /> <br />PropertyTaxLevies <br />Thetotallevybeingproposedis$4,472,680.Thisrepresentsa$192,600or4.50%increaseover <br />the2021levyof$4,280,080. <br /> <br />AnokaCountysetstheFiscalDisparitieslevyfortheentireSevenCountyMetropolitanArea. <br />Thiswasestablishedbythelegislatureinthe1970’sasameanstomoreevenlydistributethe <br />propertytaxbenefitderivedbycommercialproperties.Citiesareeithera“net”gainerora <br />“net”contributor.ArdenHillsisa“net”gainerandwillcollect$385,578in2022asopposedto <br />$345,787in2021,whichisanincreaseof11.5%. <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