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Understanding Your Assessment and Tax Calculation <br />ANOKA <br />COUNTY <br />The following example illustrates that basic concept. <br />Property Number EMV <br />#1 <br />#2 <br />#3 <br />#4 <br />#5 <br />$375,000 <br />$120,000 <br />$150,000 <br />$400,000 <br />$250,000 <br />Total Tax Base $1 ,295,000 <br />Property <br />#1 <br />#2 <br />#3 <br />#4 <br />#5 <br />EMV <br />$187,500 <br />$60,000 <br />$75,000 <br />$200,000 <br />$125,000 <br />Total Tax Base $647,500 <br />Overall Change <br />In EMV <br />-$187,500 <br />$ <br />-$7;0 <br />-$200,000 <br />-$125,000 <br />-$647,500 <br />Revenue Needed $10,000 Revenue Needed $10,000 <br />Divided by Total Tax B $1 ,295,000 Divided by Total $647,51_1 <br />Equals Tax Rate 0.0077 quals Tax Rate 0.015441-- <br />Resulting 2010 .0 <br />011 Tax 1-,iions, <br />Property Number <br />#1 <br />#2 <br />#3 <br />#4 <br />#5 <br />2010 Tax <br />Amount <br />$2,896 <br />$927 <br />$1 ,158 <br />$3,089 <br />$1 ,931 <br />Total Tax Generated <br />Property <br />#1 <br />#2 <br />#3 <br />#4 <br />#5 <br />2011 Tax <br />Amount <br />$2,896 <br />$927 <br />$1 ,158 <br />$3,089 <br />$1 ,931 <br />Overall Change <br />In Tax Amount <br />$0 <br />$0 <br />$0 <br />$0 <br />$0 <br />$10,000 Total Tax Generated $10,000 $0 <br />Keeping Assessment Fair <br />The values are reduced <br />which decreases the <br />overall tax base. <br />When the Tax Base <br />decreases, the Tax <br />Rate is adjusted <br />upward to produce the <br />same amount of <br />revenue. <br />The Tax Amounts <br />Remain the Same <br />Adhering to the same timeframes and working within the parameters of the law will ensure that <br />everyone is being treated fairly. If assessors were to choose to work outside of those timeframes the <br />end result would be inequity between taxing jurisdictions. For an Anoka County example, if the <br />assessor were to decide that the sales period for Blaine was going to be January 1, 2008 to December <br />31, 2008 instead of October 1, 2007 to September 30, 2008 like the rest of the county, and given the <br />volatility in today's market, the Blaine assessments would be measurably lower than the rest of the <br />county for the 2009 assessment. That in turn would not reduce the amount of county revenue <br />generated by real estate tax, it would result in a shift in that tax burden from Blaine properties to all of <br />the other properties in the county. While Blaine property owners would enjoy a lower tax amount, the <br />rest of the county property owners would unfairly be paying a disproportionately higher tax amount. <br />So, while it may seem arbitrary to have a set period to measure an assessment, it does create an <br />environment whereby the assessments are uniform and fair. <br />Anoka County Property Records and Taxation Assessor's Office <br />www.anokacounty.us/prop-records-tax <br />763-323-5475 <br />Page 5 <br />