9.0. SR 11-21-2005
2006 Proposed Property Taxes
Actual Proposed Percent
Taxina Authoritv 2005 2006 Increase
Elk River City 43.763 43.762 0.0%
Sherburne County 42.028 43.302 3.0%
ISO 728
NTC Tax 32.848 36.832 12.1%
Market Value (Ref) 0.14787 0.15490 4.8%
Special Taxing Districts
County Rail Authority 2.588 1.274 -50.8%
Elk River EDA 1.603 1.608 0.3%
Elk River HRA 1.158 1.162 0.3%
Total NTC Tax Rate 123.988 127.940 3.2%
Total Market Value Tax Rate 0.14787 0.15490 4.8%
Residential Homestead Property Tax Increase Percent of Total Tax
75-120-1300 2005 2006 $ % 2005 2006
Market Value 144,800.00 165,000.00 20,200.00 13.95%
Net Tax Capacity 1,448.00 1,650.00 202.00 13.95%
Tax
Sherburne County 608.72 714.30 105.58 17.34% 30.3% 30.2%
Elk River City 633.85 721.89 88.04 13.89% 31.5% 30.5%
State General Tax
School District 728
Voter approved levies 622.48 660.60 38.12 6.12% 31.0% 27.9%
Other local levies 67.47 202.51 135.04 200.15% 3.4% 8.6%
Subtotal School 689.95 863. 11 173.16 25.10% 34.3% 36.5%
Special Taxing District 77.48 66.70 (10.78) -13.91% 3.9% 2.8%
Total Tax 2,010.00 2,366.00 356.00 17.71% 100.0% 100.0%
Residential Homestead Property Tax Increase Percent of Total Tax
75-678-0135 2005 2006 $ % 2005 2006
Market Value 546,500.00 579,100.00 32,600.00 5.97%
Net Tax Capacity 5,581.00 5,989.00 408.00 7.31%
Tax
Sherburne County 2,345.60 2,593.56 247.96 10.57% 30.4% 30.3%
Elk River City 2,442.45 2,621.12 178.67 7.32% 31.6% 30.6%
State General Tax
School District 728
Voter approved levies
Other local levies
Subtotal School 2,641.40 3,103.13 461.73 17.48% 34.2% 36.3%
Special Taxing District 298.55 242.19 (56.36) -18.88% 3.9% 2.8%
Total Tax 7,728.00 8,560.00 832.00 10.77% 100.0% 100.0%
Industrial Property Tax Increase Percent of Total Tax
75-659-0110 2005 2006 $ % 2005 2006
Market Value 1,889,500.00 1,984,000.00 94,500.00 5.00%
Net Tax Capacity 37,040.00 38,930.00 1,890.00 5.10%
Tax
Sherburne County 15,567.05 16,857.42 1,290.37 8.29% 23.0% 23.2%
Elk River City 16,209.77 17,036.51 826.74 5.10% 24.0% 23.4%
State General Tax 18,935.20 19,853.85 918.65 4.85% 28.0% 27.3%
School District 728
Voter approved levies
Other local levies
Subtotal School 14,960.89 17,411.78 2,450.89 16.38% 22.1% 23.9%
Special Taxing District 1,981.39 1,574.44 (406.95) -20.54% 2.9% 2.2%
Total Tax 67,654.30 72,734.00 5,079.70 7.51% 100.0% 100.0%
11/21/2005
c C\)CAh~&
\\\1\\05
--:r-\Q~ q ,
Notice of Proposed
Total Budget and Property Taxes
The t.\R.~\"~ city council will hold a public hearing on its budget and on
the amount of property taxes it is proposing to collect to pay for the costs
of services the city will provide in 2006.
SPENDING: The total budget amounts below compare the city's 2005
total actual budget with the amount the city proposes to spend in 2006.
2005 Total Proposed 2006 Change from
Actual Budget Budget 2005 - 2006
$,"O~'5q'i:tbo $Il qClI ~S'D 1~.\.%
I . '
TAXES: The property tax amounts below compare that portion of the
current budget levied in property taxes in the city of~~k. ~;voU" for 2005
with the property taxes the city proposes to collect in 2006
2005 Property Proposed 2006 Change from.
Taxes Property Taxes 2005 - 2006
$~,\a ~l:.1 ctctS' ,"'$'~ ~~.'~;.\ I S.,'%
LOCAL TAX RATE COMPARISON: The following compares the city's
current local tax rate, the city's tax rate for 2006 if no tax levy increase is
. adopted, and the city's proposed tax rate for 2006.
2005 2006 Tax Rate if 2006 Proposed
Tax Rate NO Levy Increase Tax Rate
4'!>.'~~ 1%
~,. \l\ %
"i\. 1lt)-%
Attend the Public Hearing
All t. \ ~ 1l.;,,(,tJ"' City residents are invited to attend the public hearing of the
city cOl,lncil to express their opinions on the budget and on the proposed
amount of 2006 property taxes.' The hearing will be held on: .
Monday, December 5, at 6:30 p.m.
\.. \t<.. 1\,.,,'t" City Hall
\ ~ 0 II S' 0 f'0t\ 1) "\:)o..\" 'L. ~
\..\" "'R ~\lvr '
If the discussion of the budget cannot be ,completed, a time and place for
continuing the discussion wnJ be announced at the hearing. You are also
invited to send your written comments to:
City of t\\<. K~"~"", Mayor's Office,
l~O"_S' O('o,,\) ~G:-""~W~I t: \\\ ~\"'....-: Mf\ S~ ~o