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CITY OF ELK RIVER
<br />ESTIMATED TAX IMPACT
<br />Residential (Homestead): With Valuation Chanqe Impact
<br />Estimated City Tax
<br />Estimated
<br />Market Value
<br />Tax Capacity
<br />Tax Capacity Rate
<br />39.524%
<br />40.359%
<br />Prope Value
<br />Value
<br />Change
<br />Exclusion
<br />Value
<br />17OW
<br />change
<br />Percent
<br />change
<br />2025
<br />2026
<br />2025
<br />2026
<br />2025
<br />2026
<br />2025
<br />2026
<br />$296,500
<br />$296,600
<br />0.0%
<br />$10,555
<br />$10,546
<br />$2,859
<br />$2,861
<br />$1,130
<br />$1,154
<br />$24
<br />2.1%
<br />$344,200
<br />$344,500
<br />0.1%,
<br />$6,262
<br />$15,545
<br />$3,379
<br />$3,290
<br />$1,336
<br />$1,328
<br />($8(
<br />-0.6%
<br />$346,800
<br />$349,900
<br />0.9%
<br />$6,028
<br />$15,059
<br />$3,408
<br />$3,348
<br />$1,347
<br />$1,351
<br />$4
<br />0.3%
<br />$388,900
<br />$394,500
<br />1.4%
<br />$2,239
<br />$11,045
<br />$3,867
<br />$3,835
<br />$1,528
<br />$1,548
<br />$20
<br />1.3%
<br />$469,500
<br />$473,200
<br />0.8%
<br />$0
<br />$3.962
<br />$4,695
<br />$4,692
<br />$1,856
<br />$1,894
<br />$38
<br />2.0%
<br />$571,100
<br />$571,300
<br />0.0%
<br />$0
<br />$0
<br />$5,711
<br />$5,713
<br />$2,257
<br />$2,306
<br />$49
<br />2.2%
<br />$606,300
<br />$615.800
<br />1.6%
<br />1 $0
<br />$0
<br />$6.063
<br />$6.158
<br />1 $2,396
<br />$2.485
<br />$89
<br />3.7%
<br />$358 100
<br />$358 100
<br />0.0%
<br />1 $5,011
<br />$14,321
<br />$3,531
<br />$3 438
<br />1,
<br />{,4,`9'
<br />-0.6%
<br />** Median Value Home
<br />* As property value increases, the market value exclusion is phased out at $517,200 & over. (This is an increase from $413,800 &
<br />over in 2024.)
<br />Commercial/Industrial:
<br />Estimated City Tax
<br />Estimated
<br />Tax Capacity
<br />Tax Capacity Rate
<br />39.524%
<br />40.359%
<br />Property Value
<br />Value
<br />Change
<br />Value
<br />Dollar
<br />change
<br />Percent
<br />change
<br />2025
<br />2026
<br />2025
<br />2026
<br />2025
<br />2026
<br />$2,130,000
<br />$2,355,200
<br />10.6%
<br />$41,850
<br />$46,354
<br />$16,541
<br />$18,708
<br />$2167
<br />13.1%
<br />$3,531,900
<br />$3,896,300
<br />10.3%
<br />$69,888
<br />$77,176
<br />$27,623
<br />$31,147
<br />$3.524
<br />12.8%
<br />$5,054,400
<br />$5,426,200
<br />7.4%
<br />$100,338
<br />$107,774
<br />$39,658
<br />$43,497
<br />$3.839
<br />9.7%
<br />$1,555900
<br />$1,688.200
<br />8.5%
<br />$30368
<br />1 $33014
<br />$12.003
<br />$13,324
<br />$1,321
<br />11.0%
<br />$2,500000
<br />$2,500,000
<br />0.0%
<br />$49,250
<br />1 $49,250
<br />1 $19.466
<br />$19.877
<br />1 $411
<br />2.1%
<br />Page 11 of 12
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