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W <br /> —1 <br /> 0 \'''/./ <br /> c <br /> °- city of <br /> Elk <br /> X <br /> River <br /> X 13065 Orono Parkway <br /> O <br /> V Elk River,MN 55330 <br /> Taxes <br /> Tax Capacity Rates 2005 Elk River Tax Rate Estimates. <br /> Year Total Rate* City Rate <br /> 2005 estimate 124.755 43.780 School District 728 32.824% <br /> 2004 122.714 43.782 City of Elk River 43.780% <br /> 2003 134.939 44.614 Sherburne County 42.806% <br /> 2002 139.799 43.600 County Special Rail Authority 2.587% <br /> 2001 128.544 30.596 City EDA&HRA 2.758% <br /> 2000 119.448 30.248 Total Rate 124.755* <br /> Commercial/Industrial Taxes: <br /> Minnesota real estate taxes are based on fair market value estimates. Tax capacity times the tax rate equals <br /> property taxes. Tax capacity is the value of the property under$150,000 times 1.5%plus any value over <br /> $150,000 times 2.0%. <br /> *Total tax rates do not include Market Value School Excess Levy Referendum estimated rate of 0.14784%and state tax of 52 <br /> 2005 City General Fund Budget:$9,284,100 <br /> City Bond Rating: A-2 Moody's <br /> Housing and Development <br /> New Residential Construction Permit Value New Commercial/Industral Construction Permit Value <br /> $95,461,665 <br /> 80M- $87,101347 40M- <br /> 60M- 30M- <br /> $23 920,652 <br /> $41,8.77,967 $41,501,578 20M- <br /> 40M- <br /> $38,613,568 <br /> 10M- $6842 <br /> ,341,570 $8,118, $5,224,891 $4,156,000 <br /> 20M� • • <br /> I ', -..� <br /> 1111 2000 2001 2002 2003 2004 <br /> 2000 2001 2002 2003 2004 <br /> Source: City of Elk River Building and Environmental Department <br /> Source: City of Elk River Building and Environmental Department <br /> New Housing Units Home Sales <br /> Year Total Units Single Family Year - #Sold Mean Price <br /> 2004 547 301 2004 442 $227,724 <br /> 2003 546 285 2003 364 210,976 <br /> 2002 224 183 2002 313 195,367 <br /> 2001. 256 163 2001 300 175,149 <br /> 2000 284 172 2000 253 156,951 <br /> Source: City of Elk River Building and Environmental Department Source: Sherburne County Assessors Office <br />