6. SR 12-05-1994 - Laserfiche WebLink

Home Browse Search

.- Note that beginning in 1994, the equalization aid and the city portion of disparity reduction aid programs were eliminated. The 1993 amounts for these programs were folded in with each city's LGA. City homestead and agricultural credit aid increased by 3.4 percent due to class rate reductions for commercial and industrial properties, non- homestead residential (one to three unit apartments) and several agricul- tural class rate reductions. 1994 city net levies, including fiscal disparities distribution levies, increased by 3.7 percent over the 1993 level. Tax base composition highlights Residential homestead properties increased as a percentage of the tax base market value in cities to nearly 64 percent from 61.8 percent in the previous year. Apartment as well as commercial and industrial market values both declined as a percentage of the market value within cities. Note: These highlights are based on statewide trends. Substantial local variation is possible. Please refer to the 1993 property tax data provided in the November 1993 Minnesota Cities magazine. Column descriptions 1993 Population-The 1993 population estimate for each city prepared by the Metropolitan Council and the State Demographer. Total Tax Capacity-The total tax capacity for taxes payable in 1994, Source: 1994 Abstract of Tax lists. Power Line Tax Capacity-The net tax capacity of 10 percent oCthe 200 KV power line for taxes payable in 1994. Source: 1994 Abstrdct of Tax lists. Captured TIFTax Capacity-The captured tax capacity within tax increment financing districts for taxes payable in 1994, Source: 1994 Abstract of Tax Lists. Fiscal Disparities Contribution Tax Capacity-The tax capacity contributed to the fiscal disparities program for taxes payable in 1994. Cities outside of Anoka, CalVer, Dakota, Hennepin, Ramsey, Scott and Washington counties are not affected by this program. Source: 1994 Abstract of Tax Lists. Taxable Tax Capacity-The taxable tax capacity for taxes payable in 1994. The taxable tax capacity is computed by subtracting the power line tax capacity, captured TIF tax capacity and the fiscal disparities contribution capacity from the total tax capacity of each city. This is the tax base used to compute the local tax rate. Sour~e: 1994 Abstract of Tax lists. Fiscal Disparities Distribution Tax Capacity-The tax capacity received from the fiscal disparities program for taxes payable in 1994. Only cities located within Anoka, Carver, Dakota, Hennepin, Ramsey, Scott and Washington counties are affected by this program. Source: 1994 Abstract of Tax Lists. Average Tax Rates-These columns provide the average 1994 tax rates for county, city, school and special districts within each city. Average tax rates are provided be<:ause a city may be overlapped by several school districts, counties or special taxing districts. For example, portions of the city ofSt. Cloud are located in Steams, Sherburne and Benton counties and within the Sauk Rapids (ISD 47) and the St. Cloud (ISD 742) school districts. Source: Computed from data on the 1994 Abstract of Tax Lists. Please note that the -average total rate does not include market value-based referenda levies. Market Value Tax Rates-These columns provide the average 1994 market value tax rates for cities and schools within each city. Beginning in 1993, newly-approved city and school referenda levies were applied to the market value rather than the tax capacity of parcels, For taxes payable in 1994, nine cities and 80 school districts imposed market value referenda levies. This is up from five cities and 34 school districts in 1993, Source: Computed from data on the 1994 Abstract of Tax Lists. 1994 LGA-The 1994 certified local government aid, These amounts are the net of any tax increment penalties that may have been applied in 1994. Source: Department of Revenue spreadsheet, 1994 HACA- The certified 1994 homestead and agricultural credit aid. These amounts are the net of any tax increment penalties that may have been applied in 1994, Source: Department of Revenue HACA calculation spreadsheet. 1994 City Certified Levy-The 1994 certified levy reported by each city to the Department of Revenue in their sUlVcy, Source: Department of Revenue levy sUlVey spreadsheet. 1994 Fiscal Disparities Distribution Levy-The amount of 1994 city levy raised through the fiscal disparities program. Source: House Research Department spreadsheet. 1994 City Net Levy-The city levy actually used to compute the local tax rate. The net levy is computed by subtracting the fiscal disparities distribution levy from each city's certified levy. Source: 1994 Abstract of Tax Lists. Tax Base Composition Columns-These columns provide percentages of the local market value of real and personal property within various broad property classifica- tions, Source: 1993 Abstract of Assessment of Real and Personal Property (Note: the 1993 property assessments are used for taxes payable in 1994). Residential Homestead-all non- agricultural homestead property. Apartment-one to three unit apart- ments, four plus unit apartments, government housing land, Fanners Home Administration buildings, Title II, Minnesota Housing Finance Agency and Section 8 buildings. Farm-all agricultural homestead property, non-homestead agricultural property, and timberlands. Commercial and Industrial-all commercial and industrial property, commercial and industrial enterprise zone property Other-public utility, railroad, mineral, cabins, seasonal resorts, mobile home property, and personal property. .. Average Property Tax Bill Where the Tax Dollars Go School District 48% Special 3%