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Elk River Local Board of Appeal and Equalization <br />April 16, 2025 6:00 p.m. <br />Year End Summary – 2025 Assessment <br />Re-Assessment <br />Residential/Seasonal/Imp Ag 1,726 <br />Commercial/Industrial/Exempt 176 <br />Agriculture Land 25 <br />Residential Statistics – 3 year history <br />Item 2024 2023 2022 <br />New Homes 98 92 93 <br />Misc Permits <br />Decks/bsmt finish/additions <br />101 115 184 <br />Total Sales 305 334 450 <br />Median Sale Price $387,900 $372,700 $382,100 <br />Median Market Value $366,200 $358,100 $364,900 <br />2024 Assessment Adjustments <br />Vacant Land Adjustments 5% <br />Residential Home Adjustments 1-2% <br />Lakeshore Adjustments 5% <br />Page 5 of 13