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(Draft January 2002) Key Financial Strategies <br /> For Elk River <br /> <br />?ropetty Taxes <br />Operations (General Fund plus HRA/EDA) account for over 86% of the demand <br />on property taxes. At this point, relatively little property tax revenue is used for <br />capital expenditures and debt. <br /> <br /> Development fund <br /> 3% OUter <br /> <br />HRA/EDA/- <br /> <br /> Debt_~ \ / <br /> <br /> ~ General fund <br /> 81% <br /> <br />Figure 24- Breakdown of 2001 Tax Levy <br /> <br />Up to taxes payable 2001, City taxes placed the least influence on overall <br />property taxes. Legislative changes in 2001 will alter this relationship into the <br />future. The chart below shows the rates for taxes levied on tax capacity values. <br />A small portion of taxes are levied on market value. <br /> <br />140.00% <br />120.00% <br />100.00% <br /> · School <br /> 80.00% [] Count <br /> ·NRA <br /> · EDA <br /> 60'00°1° [] otv <br /> 40,00% <br /> 20.00% <br /> 0,00% ' <br /> 1996 1997 1998 1999 2000 2001 <br /> <br />Figure 25- Total Tax Rate <br /> <br />Page <br /> 39 <br /> <br /> <br />