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PROPERTY TAXES <br />(City Portion ONLY) <br />Changes in Residential <br />Market Values <br />Set by Ramsey County. <br />Median residential value is now <br />$247,000 compared to $256,700 last <br />year, a decrease of 3.78% <br />Average residential value in 2011 <br />was $406,153 compared to <br />$427,091 in 2010, a 5.155% <br />decrease. <br />How to Calculate Your Property Taxes <br />(City Portion ONLY) <br />Taxes based on Taxable Tax Capacity: <br />• Determine the taxable market value (see slide <br />=33) <br />• Multiply the 15S 5500,000 of taxable market <br />value by 1%. <br />r Multiply any taxable market value above <br />5500,000 by 1.25%. <br />•Add the two together for your property's <br />taxable tax capacity. <br />• Multiply the tax capacity by 26.214%. <br />• Equals the city portion of the property tax <br />based on taxable tax capacity. <br />11/15/2011 <br />Page 16 of 50 <br />