Laserfiche WebLink
IMPACTS <br />-Cities of Crosby and Ironton will have a 13.1% and 18.2% reduction to net <br />tax capacity related to the new law, respectively. Largest impacts will be felt <br />by residential non - homestead, season recreational properties, and <br />commercial properties. Additionally, House Research estimated that these <br />cities will have tax impacts in the 6.6 % -7.8% range, related to the law <br />change. <br />• Cities of Garrison, and Deerwood will have less of a market value <br />exclusion impact 3.0 % -4.9 %. However, again the impacts will be felt most <br />by residential non - homestead, seasonal recreational, and commercial <br />properties. House Research estimated the tax impact to be 1.2 % -2.6 %. <br />-City of Baxter will have a 4.0% reduction to net tax capacity related to the <br />new law. Impacts will be fairly evenly felt by all taxpayers. House Research <br />estimates the next tax increase will be 1.6 %. <br />*City of Brainerd will have a 8.9% reduction to net tax capacity related to <br />the new law. Impacts will be fairly evenly felt by all taxpayers. House <br />Research estimates the next tax increase will be 5.4 %. <br />4. <br />RO YC <br />C GOiNY <br />.� ii BRAIIVBi2D;5�ci <br />IMPACTS <br />-City of Pequot Lakes general rate will have a 5.9% reduction to net tax <br />capacity related to the market value exclusion. House Research averages the <br />rural service district information and general rate information and therefore <br />in the County's opinion doesn't represent a good simulation of tax impact. <br />*Lastly, the County has 41 communities (cities /towns) with combined tax <br />rates under 100 %. The market value exclusion calculation will impact <br />residential homesteaded properties the greatest in these areas. As a <br />percentage, the largest impacts are the lower valued homes. However, tax <br />increases will still be felt related to market value exclusion on other <br />classifications. <br />•A net tax capacity reduction of 4.8% on average, for the 30 townships as it <br />pertains to market value exclusion. <br />-Other cities not listed separately, have an average net tax capacity reduction of <br />4.0% as it relates to market value exclusion. <br />GROW WING COIJN'i'Y V <br />r t w Y BR9IIVBM MN 564Ui b ; <br />3 <br />