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Sherburne County Assessor <br />Sherburne County Government Center <br />13880 Business Center Dr NW <br />Elk River, MN 55330-1692 <br />Phone: (763)765-4900 <br /> FAX: (763)765-4905 <br /> <br />2025 ELK RIVER CITY ASSESSMENT <br />Residential and Seasonal improved properties remained stable in the 2025 assessment. There were 305 <br />sales used in our sales study and 1,014 sales county-wide. Any increases in value, was done during <br />reassessment and properties with new improvements. <br />Assessment Years Study Ratio Overall Change <br />2021 392 sales 88.2% x 1.080% 95.3% adjusted ratio <br />2022 424 sales 77.7% x 1.197% 93.0% adjusted ratio <br />2023 450 sales 87.2% x 1.073% 93.6% adjusted ratio <br />2024 334 sales 97.5% -end ratio 98.1% ajdusted ratio <br />2025 305 sales 93.3% x 1.00% 93.6% adjusted ratio <br />Rural Vacant land county-wide there were 7 sales. <br />Apartments increased county wide by 3-4% <br /> <br />Commercial and Industrial County-wide there were 7 Commercial sales – 3 Industrial sales. Our <br />commercial median ratio started as 75.41% and final ratio is 93.3%. Our Industrial median ratio started as <br />73.12% and final ratio is 90.5%. <br />Total Taxable New Construction <br />Assessment Years <br />2021 $ 32,931,500 <br />2022 $ 53,818,300 <br />2023 $ 53,403,900 <br />2024 $ 54,806,000 <br />2025 $ 39,426,100 <br />Total City Estimated Market Value <br />Assessment Years <br />2021 $ 2,859,083,800 <br />2022 $ 3,518,721,100 <br />2023 $ 3,894,488,200 <br />2024 $ 3,996,067,100 <br />2025 $ 4,613,889,000 <br />Page 4 of 13