|
City of Ramsey
<br />
<br />Market Values
<br />
<br />I
<br />I
<br />I
<br />I
<br />I
<br />
<br />After thorough studies of the sales in the market place are conducted, we
<br />establish the assessed value of all real property. During the 2003 study period,
<br />we recorded 461 sales of which we considered 405 "arms-length" sales.
<br />
<br />In accordance with the reSults of these sales studies, certain areas of the city and
<br />certain styles and grades of homes may have been adjusted in value, either lower
<br />or higher than the previous year's value. This will more properly reflect current
<br />market trends.
<br />
<br />The 2003 assessment that is up for your review has a total unaudited assessed
<br />value of $1,465,486,800 excluding exempt property. It reflects an approximate
<br />valuation increase of 13.7% over the 2002 assessment.
<br />
<br />With new construction included, the pattern of growth in the City's total value can
<br />be seen in the following list of assessment years:
<br />
<br />Growth in Property Values
<br /> 1997 - 2003
<br />
<br />I
<br />I
<br />!
<br />
<br />Year
<br />
<br />2003
<br />2002
<br />2001
<br />2000
<br />1999
<br />1998
<br />1997
<br />
<br />Agricultural Residential Commercial & Personal
<br /> Industrial Prope~y Total %Chg
<br />$30,707,200 $1,244,249,100 $174,787,800 $15,742,700 $1,465,486,800 13.7%
<br />$28,613,800 $1,086,507,300 $157,531,500 $15,742,700 $1,288,395,300 18.8%
<br />$10,103,400 $925,307,300 $136,879,000 $12,501,600 $1,084,791,300 10.6%
<br />$8,193,000 $840,076,900 $121,024,500 $11,672,200 $980,966,600 9.8%
<br />$17,246,600 $766,907,500 $97,467,000 $12,193,000 $893,814,100 13.9%
<br />$8,139,600 $687,939,200 $76,775,300 $11,788,000 $784,642,100 10.1%
<br />$15,314,500 $629,017,700 $57,255,700 $10,875,100 $712,463,000
<br />
<br />'1
<br />
<br />o
<br />
<br />Growth in Property Values
<br />
<br />$1,500,000,000
<br />$1,000,000,000
<br />
<br />$500,000,000
<br />
<br /> $0
<br />1997 199R
<br />DAgricultural [] Residential
<br />
<br /> 1999 2000 2001 2002
<br />[] Commercial& Industrial [] PersonalPropeAy
<br />
<br />10
<br />
<br />2003
<br />
<br />
<br />
|