Friday, September 16, 2016

Impact on City Residential Property Tax Revenue of Forest Lake Lake Property

Impact on City Residential Property Tax Revenue of Forest Lake Lake Property


2010 Total
2010 Forest Lake -  Lake Property
Topic
Forest Lake 3
Lake Property Premium 1
Lot + Home
Total
Residences:
6,910
100%
984
14.2%
984
14.2%
942
14.2%
2010(E) Taxable
Residential
Market Value:
$1298 Mil 4
$254 Mil
19.6%
$195 Mil
15.0%
$449 Mil 6
34.6%
2010(E) Residential
Tax Levy:
$4.372 Mil 5
$.857 Mil
19.6%
$.673 Mil
15%
$1.53 Mil
34.6%

Tax revenue because of lake property premium


1 Lake shore property taxable mkt value
=
Lake shore frontage x $4400/$2200 per ft. Premium paid for being on the lake 2
+
Lot value
(normal)
+
Home value
(normal)
                                                                                                                                      
2  Washington County tax assessor’s office plus local real estate agent estimates.
3  2010(E) Residential Taxable Mkt Value from 2009 FL Fin’l Plan
4  62.2% of total 2010(E) $2086 Mil
5  62.2% of total 2010(E) $7.030 Mil.
6  2010(E)Taxable Mkt Value report for properties on FL. Run by Kevin Corbid, Director, Property Records and Taxpayer Services on 8/10/2010

1 comment:

  1. I lived in dove mountain Luxury Real Estate managed by an amazing management company, although I've only dealt with my manger. I have been very satisfied with their service.

    ReplyDelete