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City of Roseville - Extracts from County Assessor Reports 2022 EMV2021 EMV%Increase Single Family $335,400$296,50013.12% Townhomes$290,100$236,50022.66% Res 2-3 units$392,300$335,20017.03% Condo/Coop$135,900$124,1009.51% Apartments$2,731,950$2,023,40035.02% Commerical - Office $759,300$715,8006.08% Retail$2,078,200$2,003,4503.73% Industrial$4,186,100$3,515,55019.07% Overall Market Value increase is 12.99% 16 17 18 In the aggregate, the market value for the median single-family home rose very slightly faster(13.12%) 19 than all other property types combined 12.99%). This means that holding all other factors constant, there 20 will not be much of a shift in the overall tax burden to single-family homeowners in 2022 as a proration 21 of the overall market value. However, the majority of property tax increases will be a function of the 22 change in median market value. 23 24 More data is provided by Ramsey County in late August so we will have a better estimate of impact from 25 the market value and from increases in the preliminary budget which will be presented in August. 26 27 Budgetary Impacts from the 2021 Legislative Session 28 The 2021 Legislative Session ended after the conclusion of the Regular Session on May 23, 2022 without 29 passage of a tax bill nor a bonding bill. At this time there have been no special sessions called.As a 30 result, the League of MN Cities has not released the 2022 Law Summaries which provides a re-cap of 31 laws impacting cities. Staff isnot aware of any significant legislative actions that would have impacts 32 on the 2023 Budget. 33 34 Budgetary Impacts from Other Considerations 35 In prior years, we have used this opportunity to provide a summary of the potential financial impacts of 36 maintaining programs and services. This includes impacts associated with employee COLA’s and wage 37 steps, healthcare increases, contractual obligations & professional services, and general inflationary costs. 38 Additional tax levy support for capital improvement funds will also be included in the 2023 budget. 39 40 The City Manager has met with each department to review their specific budget needs and will be 41 focusing on refining those requests into his proposed budget which will be presented to the Council on 42 August 22, 2022. 43 44 In addition to tax levy impacts noted above, continued emphasis on our water, sanitary sewer, and storm 45 sewer infrastructure replacement programs is expected to drive utility rate increases for 2023 as well. We 46 are working with Ehlers to update our utility rate study using current budgets and capital projects. They 47 will also be examining how the current water rate structure is working and whether additional changes 48 need to be made in that area. More specific information regarding budgetary impacts will be addressed 49 with the release of the 2023 City Manager Recommended Budget in August and the utility rates later this 50 fall. Page 2 of 4