----- Original Message -----
Cc: Dwayne Voegeli
Sent: Monday, September 26, 2005 2:47
PM
OK--Here is what I know that I have.
Total
new construction in the county last year was just under $77 million, or
approximately 2.2% of the total real estate value. It would be a little less if
we included utility and personal property value.
The
new construction is broken down by classification as
follows:
Farm
$8 million
Residential $46.25
million
Apartments $3.4
million
Commercial/Industrial
$18 million
Other $
2.35 million
Using
rough tax base analysis, the total tax capacity for these would be about
$950,000 or 2.8% of the total tax base. Assuming you want to increase the levy
by 5%, some counties would look at this as adding 2.2% to the taxpayers because
the 2.8% would be new tax base.
Total
tax capacity (or tax base) is up 10% over last year. This includes new
construction and revaluation. Since you are proposing a 5% levy increase, the
tax rate for the county should go down. The county auditor is responsible for
setting the tax rate so you may wish to check with her.
There
was no real change in tax capacity percentages for this year. Total value
of the county is now just over $3.5 billion, Total tax capacity is
$34,578,402.
I
recently saw a report from other MICA counties in Minnesota and I think our
increase was third lowest. It certainly appears to be reasonable the way it
is.
If you
need any further information or clarification, please let me know.
Steve
Hacken
