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2011_0425_packet
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Office of the County Assessor <br />Stepihen L Baker, SAMA, CAE County Assessor <br />90 West Plato Boulevard <br />Suite 400 <br />St. Paul., MN 55107 <br />To: Ramsey County Commissioners, City M�anagers, and Co agel <br />From Stephen L Baker CAE', SAMA <br />RMiject: 2011 pay <br />Attachment A <br />Tel: 651-266-2131 <br />Fax: 651-266-2101 <br />AskCountyAssessor(q)co.ramsey.nm.u.s <br />We recently mailed the 2011 payable 2012 valuation notice to each Ramsey County property owner. The valuation <br />notice included the assessors' proposed estimated market value, the proposed taxable market value, and the proposed <br />property classification for 2011 payable 2012. <br />This year we reduced values for most properties. The total countywide reduction in market value was $1.6114 billion <br />before adding back the value from new construction; this is a slight improvement from last year's reduction of $235 <br />billion. Of the entire population of 1561,7611 properties, 100,1617 properties had a decrease in value, 50,905 properties <br />had no change in value and 5,6189 properties had an increase in value. After factoring in all changes in value deferments, <br />exclusions, and new construction the total countywide decline in value is $2388 billion. The total estimated market <br />value for 2011 taxes payable 2012 is $41.25 billion (not-including personal property, utilities and railroad). <br />This year we experienced declines in assessed value in residential and commercial property, but increases in overall <br />assessed value for the apartment property segment. But even the apartment class, which experienced an increase in <br />aggregate value, had more parcels with declining value than parcels with increasing value; this was because the parcels <br />with increasing values tended to be the larger, more valuable properties. <br />2011 Assessment <br />The percentage changes in 2011 aggregate value (excluding new construction but including land) by <br />property class, for the City of St. Paul and for the suburbs taken together and countywide are as follows: <br />Median Values for 2010 and 2011 are as follow: <br />Residential Commercial/industrial Apartments <br />City of Saint Paul - 2010 $15411400 $399"900 $465,,500 <br />City of Saint Paul — 2011 $146,,600 $385.,000 $465,300 <br />Excellence e Respect e Diversity <br />Overall <br />Residential <br />Commercial/industrial <br />Apartments <br />City of Saint Paul <br />-3.3% <br />-4.2% <br />-3.2% <br />+2.1% <br />Suburban Ramsey <br />-3.51 <br />-4.41 <br />-3.0% <br />+43% <br />Countywide <br />-3.4% <br />-4.3% <br />-3.1% <br />+23% <br />Median Values for 2010 and 2011 are as follow: <br />Residential Commercial/industrial Apartments <br />City of Saint Paul - 2010 $15411400 $399"900 $465,,500 <br />City of Saint Paul — 2011 $146,,600 $385.,000 $465,300 <br />Excellence e Respect e Diversity <br />
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