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CITY OF ELK RIVERESTIMATED TAX IMPACT
<br />Residential (Homestead): With Valuation Change Impact
<br />Tax Capacity Rate
<br />Value 39.524%40.359%Percent
<br />2025 2026 Change 2025 2026 2025 2026 2025 2026 change
<br />$296,500 $296,600 0.0%$19,865 $19,856 $2,766 $2,767 $1,093 $1,117 $24 $2.00 2.2%
<br />$344,200 $344,500 0.1%$15,572 $15,545 $3,286 $3,290 $1,299 $1,328 $29 $2.42 2.2%
<br />$346,800 $349,900 0.9%$15,338 $15,059 $3,315 $3,348 $1,310 $1,351 $41 $3.42 3.1%
<br />$388,900 $394,500 1.4%$11,549 $11,045 $3,774 $3,835 $1,491 $1,548 $57 $4.75 3.8%
<br />$469,500 $473,200 0.8%$4,295 $3,962 $4,652 $4,692 $1,839 $1,894 $55 $4.58 3.0%
<br />$571,100 $571,300 0.0%$0 $0 $5,711 $5,713 $2,257 $2,306 $49 $4.08 2.2%
<br />$606,300 $615,800 1.6%$0 $0 $6,063 $6,158 $2,396 $2,485 $89 $7.42 3.7%
<br />$358,100 $369,200 3.1%$14,321 $13,322 $3,438 $3,559 $1,359 $1,436 $77 $6.42 5.7%
<br /> ** Median Value Home
<br />Commercial/Industrial:
<br />Tax Capacity Rate
<br />Value 39.524%40.359%Percent
<br />2025 2026 Change 2025 2026 2025 2026 change
<br />$2,130,000 $2,355,200 10.6%$41,850 $46,354 $16,541 $18,708 $2,167 $180.58 13.1%
<br />$3,531,900 $3,896,300 10.3%$69,888 $77,176 $27,623 $31,147 $3,524 $293.67 12.8%
<br />$5,054,400 $5,426,200 7.4%$100,338 $107,774 $39,658 $43,497 $3,839 $319.92 9.7%
<br />$1,555,900 $1,688,200 8.5%$30,368 $33,014 $12,003 $13,324 $1,321 $110.08 11.0%
<br />$2,500,000 $2,500,000 0.0%$49,250 $49,250 $19,466 $19,877 $411 $34.25 2.1%
<br />Estimated City Tax
<br />Estimated
<br />Property Value
<br />Property Value
<br />Estimated City Tax
<br />Estimated
<br />Value
<br />Market Value
<br />Exclusion
<br />* As property value increases, the market value exclusion is phased out at $517,200 & over. (This is an increase from $413,800 & over in 2024.)
<br />Dollar Change
<br />ANNUAL MONTHLY
<br />ANNUAL MONTHLY
<br />Dollar Change
<br />Tax Capacity
<br />Tax Capacity
<br />Value
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