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CURRENT PROPERTY VALUATIONS <br />2016/17 Economic Market Value <br />$110.431.5351 <br />2017/18 <br />2017/18 <br />Assessor's Estimated <br />Net Tax <br />Market Value <br />Capacity <br />Real Estate <br />$109,242,300 <br />$1,251,565 <br />Personal Property <br />766,300 <br />15,326 <br />Total Valuation <br />$110,008,600 <br />$1,266,891 <br />Less: Fiscal Disparities Contribution <br />(139,622) <br />Taxable Net Tax Capacity <br />$1,127,269 <br />Plus: Fiscal Disparities Distribution' <br />24,207 <br />Adjusted Taxable Net Tax Capacity <br />$1,151,476 <br />According to the Minnesota Department of Revenue, the Assessor's Estimated Market Value (the "AEMV") for <br />the City of Gem Lake is about 94.09% of the actual selling prices of property most recently sold in the City. The <br />sales ratio was calculated by comparing the selling prices with the AEMV. Dividing the AEMV of real estate <br />by the sales ratio and adding the AEMV of personal property and utility, railroads and minerals, if any, results <br />in an Economic Market Value ("EMV") for the City of $110,431,535. <br />2 Each community in the seven -county metropolitan area contributes 40% of the growth in its commercial - <br />industrial property tax base since 1972 to an area pool which is then distributed among the municipalities on the <br />basis of population, special needs, etc. Each governmental unit makes a contribution and receives a distribution -- <br />sometimes gaining and sometimes contributing net tax capacity for tax purposes. <br />0 <br />