A city-by-city list showing tax base composition—both tax capacity and market value—is now available. The data comes from the Department of Revenue and is for taxes payable in 2017. Note that the data for cities in Hennepin and Ramsey counties is still preliminary.
For taxes payable in 2017, total market value for all cities together is $404,007,943,488, an increase of 6 percent over 2016. Looking at the types of property in cities, homestead, non-residential homestead, and commercial-industrial categories of property saw market value growth. The greatest growth was in commercial-industrial property (12 percent). Changes in statewide tax capacity were similar; the total tax capacity was up 7 percent for taxes payable in 2017.
Typically at this time of year, the League makes the composition data as well as tax rates available. Due to delays in the data from the Department of Revenue, the tax rate information is not yet ready, but the League will post the information as soon as it is available.