Preliminary numbers from Anoka County indicate a likelihood of higher property taxes in Spring Lake Park next year.
Taxable market values are up, but not as much as other municipalities in the county.
Taxable market values are not identical to estimated market values, but are calculated from them.
Apart from Hilltop, Spring Lake Park saw the smallest percentage increase from payable 2014 taxable values to 2015. But it’s still an increase – something the city hasn’t seen since before the bubble burst in the mid-2000s, according to City Administrator Dan Buchholtz.
Spring Lake Park saw a 5.7 percent increase in taxable market values citywide.
$1.2 million of the increase, about 5 percent, comes from new construction, 97 percent of which is residential construction.
The city’s median residential taxable value jumped 8.6 percent.
“The stronger housing market that we’ve seen, the stronger sales, are having an impact on the values,” Buchholtz said.
Anoka County as a whole saw a 13.5 percent increase in taxable market values. The median taxable residential value is up 20.7 percent.
Olivia Koester is at [email protected]