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City of Pequot Lakes, Minnesota
<br />May 21, 2013
<br />Page 4
<br />Esti mate d
<br />Market
<br />Value (a)
<br />$75, 000
<br />150, 000
<br />200,000
<br />300, 000
<br />400, 000
<br />500, 000
<br />$75,000
<br />150, 000
<br />200, 000
<br />300, 000
<br />400, 000
<br />500, 000
<br />Value per Acre
<br />Dwelling Est.
<br />Market (b)
<br />$100, 000
<br />Pequot Lakes, Minnesota
<br />Estimated Tax Impact - Based on Net Tax Capacity
<br />Rural Tax Rate Phase-In
<br />2012/2013
<br />Net Tax
<br />Capacity Rural Tax Rate � 37.950°/a �
<br />Seasonal/Recreational (Residential)
<br />$750 $285
<br />1, 500 569
<br />2,000 759
<br />3, 000 1,139
<br />4, 000 1, 518
<br />5,000 1, 898
<br />Year 1 Year 2 Year 3
<br />44.693% � 50.027% � 54.350% �
<br />$335
<br />670
<br />894
<br />1,341
<br />1, 788
<br />2,235
<br />Residentiai Non-Homestead (Single Unit)
<br />$750 $285 $335
<br />1, 500 569 670
<br />2,000 759 894
<br />3,000 1,139 1,341
<br />4, 000 1, 518 1, 788
<br />5,000 1,898 2,235
<br />A�ricultural Homestead
<br />$5,000
<br />Net Tax
<br />Acres Total EMV (c) Capacitv
<br />80 $500,000 $2,718
<br />160 900,000 4,718
<br />320 1, 700,000 10,550
<br />640 3,300,000 26,550
<br />$1,031 $1,215
<br />1,790 2,108
<br />4,004 4,715
<br />10, 076 11, 866
<br />Agricultural Non-Homestead
<br />Net Tax
<br />Acres Total EMV (c) Capacitv
<br />80 $400, 000 $4, 000 $1, 518
<br />160 800,000 8,000 3,036
<br />320 1,600, 000 16, 000 6,072
<br />640 3, 200, 000 32, 000 12,144
<br />(a) Estimated market value is the basis from wf�ich the net tax capacity is ca/culated.
<br />This value is not necessarily the price the property uwuld bring if sold.
<br />$1,788
<br />3, 575
<br />7,151
<br />14, 302
<br />(b) Includes house, garage and one acre with an estimated market va/ue of $100,000.00
<br />(c) Estimated va/ue per til/able acre is $5, 000.00
<br />$375
<br />750
<br />1,001
<br />1,501
<br />2,001
<br />2, 501
<br />$375
<br />750
<br />1,001
<br />1,501
<br />2,001
<br />2, 501
<br />$1,360
<br />2, 360
<br />5,278
<br />13,282
<br />$2,001
<br />4, 002
<br />8,004
<br />16, 009
<br />$408
<br />815
<br />1, 087
<br />1,631
<br />2,174
<br />2,718
<br />$408
<br />815
<br />1, 087
<br />1,631
<br />2,174
<br />2,718
<br />$1,477
<br />2, 564
<br />5, 734
<br />14,430
<br />$2,174
<br />4, 348
<br />8,696
<br />17,392
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