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STATISTICAL INFORMATION <br />V A L UA►TION-$ <br />Market value of taxable property, 1988/89 . . . . . . . . . . . . 1576,438,3411) <br />Real Estate <br />Personal Property <br />Total <br />Less: Fiscal Disparity Contribution 2) <br />Taxable Gross Tax Capacity <br />Plus: Fiscal Disparity Distribution 2) <br />Adjusted Taxable Gross Tax Capacity <br />1988/89 <br />1988/89 <br />Assessor's Estimated <br />Market Value <br />Gross Tax <br />Capacity <br />$477,834,580 <br />$14,049,094 <br />3,495,200 <br />` 183,499 <br />1481,329,78.9 <br />$14,232,593 <br />(267,253) <br />$13,965 340 <br />_._. 386.4k2 <br />$14,351,809 <br />According to the Hennepin Cowity Auditor, about 90.29% of the City's total Cross <br />tax capacity is residential, 2.60% is agricultural and 7.11% is utility, industrial <br />and commercial property. <br />1)According to the Minnesota Department of Revenue, the "assessor's estimated <br />market value" for the City of Orono is about 83.4% of true market value. The <br />ratio was calculated by comparing the selling prices of property sold (most <br />recent available) with the assessor's market value. Dividing the assessor's <br />estimated market value of real estate by .834 and adding personal ;property and <br />mobile home ENV, if any, results in a market v,-lue of taxable property for the <br />City of Orono of $576,438,341. <br />2)Fach governmental unit in the seven -county metropolitan area contributes 4.0% of <br />its new industrial and commercial valuation to an area pool which is then <br />distributed among the municipalities on the basis of population, special needs, <br />etc. Thus, each governmental unit makes a contribution and receives a <br />distribution, sometimes gaining and sometimes losing gross tax capacity after <br />fiscal disparities adjustments. <br />SQCRCE: Valuations, Larger Taxpayers, Tax Collections, Mill Rates, and Tax <br />Capacity Rates have been Furnished by the Hennepin County Auditor. <br />