UNIVERSITY AVENUE PROPERTY TAX STUDY:

Part 4:CHANGES IN PROPERTY VALUE

UNIVERSITY AVENUE PROPERTY TAX STUDY:

Part 4:CHANGES IN PROPERTY VALUE

Bob Spaulding • November 14th, 2006

Bob Spaulding • November 14th, 2006

TAX STUDY | CHANGES IN PROPERTY VALUE

CHANGES IN PROPERTY VALUEEstimated Market Values Citywide and Countywide, 2002-2006

CHANGES IN PROPERTY VALUEEstimated Market Values Citywide and Countywide, 2002-2006

Source: Annual Auditor Reports, Ramsey County Auditor’s Office

0%

2%

4%

6%

8%

10%

12%

14%

16%

2002-2003 2003-2004 2004-2005 2005-2006

City Overall County Overall City Commercial County Commercial

TAX STUDY | CHANGES IN PROPERTY VALUE

CHANGES IN PROPERTY VALUATIONUniversity Avenue Estimated Market Values, 2000-2006

CHANGES IN PROPERTY VALUATIONUniversity Avenue Estimated Market Values, 2000-2006

Source: Annual Auditor Reports, Ramsey County Auditor’s Office; Compiled Data from Ramsey County Property Tax Records

6.2%

20.6%

8.3%

11.1%

9.8%

14.7%

12.9%

0%

5%

10%

15%

20%

2000-2001 2001-2002 2002-2003 2003-2004 2004-2005 2005-2006 Average

TAX STUDY | CHANGES IN PROPERTY VALUE

CHANGES IN PROPERTY VALUATIONCitywide versus University Avenue Estimated Market Values, 2000-

2006

CHANGES IN PROPERTY VALUATIONCitywide versus University Avenue Estimated Market Values, 2000-

2006

Source: Annual Auditor Reports, Ramsey County Auditor’s Office; Compiled Data from Ramsey County Property Tax Records

0%

5%

10%

15%

20%

2000-2001 2001-2002 2002-2003 2003-2004 2004-2005 2005-2006

University Avenue City Overall City Commercial

TAX STUDY | CHANGES IN PROPERTY VALUE

CHANGES IN PROPERTY VALUATION BY SUBAREA Average Annual Increase in Estimated Market Values on University,

2000-2006

CHANGES IN PROPERTY VALUATION BY SUBAREA Average Annual Increase in Estimated Market Values on University,

2000-2006

Source: Compiled Data from Ramsey County Property Tax Records

10.8%

12.6%

13.9%

16.1%15.4%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

City Limits toFairview Avenue

Fairview Avenue toLexington Avenue

Snelling Avenue toLexington Avenue

Lexington Avenue toDale Street

Dale Street to Capitol

TAX STUDY | CHANGES IN PROPERTY VALUE

CHANGES IN PROPERTY VALUATION BY TYPE Average Annual Increase in Estimated Market Values on University,

2000-2006

CHANGES IN PROPERTY VALUATION BY TYPE Average Annual Increase in Estimated Market Values on University,

2000-2006

Source: Compiled Data from Ramsey County Property Tax Records

20.44%

19.20%

19.05%

17.92%

16.05%

13.98%

13.88%

13.18%

12.98%

11.58%

10.57%

7.71%

0% 5% 10% 15% 20% 25%

1-Story Storefront (Modern)

House

Auto Sales & Service

House - Commercial Conversion

2-3 Story Storefront (Traditional)

Fast Food

Gas Stations

1-Story Storefront (Traditional)

Big Box/Strip Mall

Office Buildings

Showroom

Office-Warehouse