2015 Assessment Report. Hennepin County. Assessor s Department

Transcription

1 215 Assessment Report Hennepin County Assessor s Department James R. Atchison, CAE, SAMA County Assessor Last Modified:

2 Page 2 of 55

3 215 TABLE OF CONTENTS Last modified (5-7-15) Table of Contents (2 pages).3 Introduction to the Hennepin County Assessor s Office s 215 Annual Report (3 pages)...5 Overview of the 215 Assessment (2 pages)...8 Hennepin County Cumulative Growth by Munic and Property Type (6 pages)...1 Hennepin County Percent Change Growth by Property Type Chart...16 Suburban Hennepin Percent Change Growth by Property Type Chart Suburban Hennepin Sales Ratio Histogram Chart Suburban Hennepin Mean and Median Sales Ratios Hennepin County Single Family Residential Median Estimated Market Values Chart by Munic... 2 Hennepin County Single Family Residential Median Estimated Market Values Line Graph...21 Hennepin County Mean and Median Single Family Residential Sales Price...22 Hennepin County CRV (Certificate of Real Estate Value) Counts by Calendar Year...23 Hennepin County Munic Totals And Parcel Counts (3 pages)...24 Hennepin County Two-Year Munic Tax Capacities by Property Type Groupings (6 pages) Hennepin County Valuation Comparison (DK99SS93)...33 Hennepin County Assessment Valuation Info Value Exclusions (DK99SS93-A2)..34 Hennepin County New Construction Report by Munic Hennepin County Estimated Market Value Pie Chart Hennepin County Taxable Market Value Pie Chart Hennepin County Tax Capacity Pie Chart Hennepin County Net Tax Dollars by Property Type Pie Chart Page 3 of 55

4 Hennepin County Ten-Year History of Property Class as a Percentage of Tax Base...4 Hennepin County EMV, TMV and Tax Capacity Percentages Graph...41 Hennepin County Ten-Year History of Excluded Value...42 Hennepin County Ten-Year History of Excluded Value Charts Hennepin County Two Year Comparison of Estimated Market Values by Property Type Graph...44 Hennepin County Two Year Comparison of Taxable Market Values by Property Type Graph...45 Hennepin County Two Year Comparison of Tax Capacity by Property Type Graph...46 Hennepin County Tax Capacity Distribution Graph.47 Hennepin County Net Tax Percent by Property Type Graph Hennepin County Map..49 Hennepin County Overview - Fast Facts (2 Pages)....5 Glossary of Assessment Terms (4 Pages). 52 Page 4 of 55

5 The mission of the Hennepin County Assessor s Office is to value and classify property, uniformly, and accurately. This report is a statistical and graphical representation of market value changes over the past year, culminating in equalized values and appropriate classifications throughout Hennepin County. It is an attempt to mirror, without bias or judgment, the nuances, trends and patterns found in the real estate market. In order to comply with statute and fulfill our mission, the Assessor s Office provides value and service to Hennepin County, cities within the county, and all taxpayers, regardless of where they live, by: Administering laws governing assessment practices and policy as passed by the legislature and interpreted by the Minnesota Department of Revenue (DOR); Conducting on site field reviews of all properties within a five year schedule; Listening to taxpayers concerns in conjunction with an appeal process that is fair and accessible; Analyzing market forces, including a detailed verification and statistical evaluation of all real estate sales using interviews, inspections, regression analysis and stratification; Maintaining and informing taxpayers of beneficial property tax programs such as homestead, green acres, rural preserve, veteran s exclusion, open space and plat law; Reporting values and classifications, which provide the basis and starting point for the property tax system. The underlying foundation of the assessor s report is real estate sales and the associated sales ratios indicated by the relationship between sales and assessed values. Any measurement tool, including the assessment cycle, relies on a known reference point, a distance traveled, and a direction. These parameters are outlined in Minnesota statutes and provide consistency, uniformity and comparative capability on micro and macro scales such as neighborhood, county and state. The most current measurement was done over a one-year time period from October 1, 213, to September 3, 214, whereby all qualifying sales transactions occurring within this period are compared to the reference point of the assessment date and corresponding value on January 2 nd, 214. The differences between the sale price and the assessed value expressed as a ratio (assessed value / sale price = ratio) provide the data and impetus the assessor requires to closely emulate the sales and modify similar properties on a mass appraisal scale, in this case, to establish values for the 215 assessment. While the assessment standard is that this modification produces new aggregate ratios by property type (examples: residential, commercial, agricultural) in the range of 9-15%, Hennepin County has always sought to exceed the standard and continue to refine the ratios beyond the jurisdictional level down to the neighborhood level with a specific ratio target. We feel this policy, employed across Hennepin County, ensures an equitable distribution of the property tax burden for all taxpayers. Assessors are historians, measuring the market based on sales which have occurred prior to the assessment date. Assessors do not create market value or predict what the market will do; rather, the assessor s job is to follow the patterns set by the real estate market. The market value of a property is a combination of a myriad of factors. Economic conditions, demographics, zoning, physical characteristics, government and policy, infrastructure, and supply and demand all interact in a complex, intricate way to Page 5 of 55

6 produce a market value that is always changing. Since the economic downturn a few years ago, there has been some public pressure for the assessed values to be more current. Changes to Minnesota s sales ratio methodology that were implemented for the 212 assessment, are addressing this issue by applying market conditions adjustments to sales ratios. MARKET CONDITIONS ADJUSTMENTS (MCAP) As stated in M.S , Subd. 8, Market value means the usual selling price at the place where the property to which the term is applied shall be at the time of assessment and, As stated in M.S , All real property subject to taxation shall be listed with reference to their value on January 2 M.S , Subd. 4, states that The sales ratio studies published by the Department of Revenue shall be admissible in evidence as a public record without the laying of a foundation if the sales prices used in the study are adjusted for the terms of the sale to reflect market value and are adjusted to reflect the difference in the date of sale compared to the assessment date. Simply put, the assessor is to value all property on January 2 nd at the value it would sell for considering all market conditions. Assessor s value all properties using mass appraisal techniques, and one of the primary tools of mass appraisal are the numerous statistics derived from sales ratio studies. Sales ratio studies can be of any duration of time, but the 12-month Minnesota State Board ratio study is considered the primary study in setting and analyzing the annual assessment. The Market Conditions Adjusted Prices (MCAP) ratios are a measure by which sale prices are adjusted for differences in the market conditions at the time of the sale and the market conditions at the time of the assessment date. Since this measure is essentially comparing the value of a sale property at two unique points in time, it is often referred to as a time adjustment, even though other factors may be influencing the market, such as changes in interest rates, supply and demand, employment rates, or the availability of financing. WHY MCAP? For the 212 assessment, the DOR instituted the market conditions adjusted sales ratio methodology (MCAP ratios) for calculating State Board sales ratios for a number of reasons: M.S , (4), states that sales must be adjusted to reflect the difference in the date of sale compared to the assessment date; Tax Court ratios are adjusted for market conditions; 21-month state aid ratios already are adjusted for market conditions; Generally accepted appraisal principals indicate that, in the sales comparison approach, one of the first adjustments considered is for market conditions; International Association of Assessing Officers (IAAO) standards identify that time adjustments are necessary for accurate ratio studies; The DOR, by statute, must follow IAAO guidelines. SO WHAT REALLY HAS CHANGED? Page 6 of 55

7 Assessments will be current with no lag in market trends; All sales have equal weight in median ratio calculations; Sales ratios for all purposes will be in closer alignment State Board, Tax Court, and 21- month Schools Aids; Consistent with IAAO standards; Consistent with appraisal principles and best practices; Higher quality assessments; More equalized assessments. As the reader will observe in a number of the sub-reports found within this annual report, many of the ratio specific statistics have now been modified to show the market conditions adjusted prices. Prior to this change, assessments were measured against the direct sale prices or, in other words, sale prices that have not had a MCAP trend applied. The Department of Revenue has more information on their website detailing how the MCAP adjustments are calculated and applied. UTILITY & RAILROAD PROPERTY: The MN Department of Revenue (DOR) sets the assessed values for all real and personal property classified as a public utility or operating railroad. Assessors must value all the land, and the DOR values structures and machinery. The DOR has a statutory requirement to report state-assessed values to county assessors by August 1 each year. Beginning with the 214 assessment, state-assessed values from the prior assessment year will no longer be included in the assessor s annual report. Formerly, assessors would carry state-assessed values forward with each new assessment, and then update the values from the DOR s mid-year report. Utility and rail companies asked that assessors end that practice, as the yearly Notices of Valuation and Classification sent by assessors in the spring contained the wrong year s values. It is important to keep this change in practice in mind as you review this year s assessment report. The omission of value was intentional. These values will be updated prior to the final reporting of the year s assessment. CONCLUSION The Assessor s Office is pleased to present this report. We hope that it will be useful for county and city officials as well as for those with a general interest in property tax and assessed market valuations. The data has been sorted by totals for the City of Minneapolis and suburban Hennepin County, and by each local jurisdiction. For comparison purposes within and between jurisdictions, a ten-year history has been provided on some of the totals. This report, along with previous years iterations of this report, can also be found electronically on the web at (under the heading County Assessor Report): Page 7 of 55

8 Overview of the 215 Assessment The real estate market peaked in Hennepin County for assessment year 27 and since that time real estate values had been experiencing declining market valuations until the 213 assessment. The 213 assessment saw this downward trend slow considerably, while some types of property actually experienced modest increases in valuations. The 215 assessment now marks the second year that the overall trend indicates meaningful increasing market valuations since that peak. Overall, estimated market values grew 6.8% in Hennepin County, from $133 billion for the 214 assessment to $142 billion for 215 assessment. This $9 billion dollar increase in market values includes $2.3 billion in new construction. This new construction is across all of Hennepin County and encompasses all property types, with the most notable being the apartment sector of Minneapolis with approximately $568 million. RESIDENTIAL Single Family Detached For the half dozen assessments that preceded the 213 assessment, the residential markets had seen considerable decline in valuations. Although the growth of single-family residential properties valuations in Hennepin County increased by bigger margins from the 213 to the 214 Assessment, the 215 assessment marks the second year in a row that market values for these detached single-family properties have increased in Hennepin County. For the 215 assessment, this sub-set of properties increased by 4.9%. The City of Minneapolis saw a slightly higher increase of 5.4%, while detached single-family homes in suburban Hennepin increased 4.8%. It is important to note that these aggregate changes can be an over simplification. The assessment average numbers betray the level of complexity of the assessment. Each city, neighborhood, and property type has its own story to tell with regard to market fluctuations. In addition to traditional sales analysis, we also analyze lender mediated sales information and continue to make made some limited and targeted value reductions in areas that where sales activity continues to be a significant portion of that market. We will continue to monitor these issues throughout 215 as we prepare for the 216 assessment. CONDOMINIUM Individual unit value changes will vary by complex and unit type with an average increase across the county of 8.4%. TOWNHOUSES The estimated market value on townhouse properties increased 5.7% county-wide. The City of Minneapolis townhouse market, which makes up less than 5% of the total townhome population of Hennepin County, saw a double-digit increase of 11.2%, while townhouses in suburban Hennepin experienced an increase of 5.4%. Page 8 of 55

9 APARTMENTS For the 215 assessment, the overall apartment market in the county is up an astonishing 2.2% from the 214 assessment. The value of apartments in suburban Hennepin County increased 13.4%, the fifth consecutive year-over-year increase. The value increases continue to primarily be attributed to investment-grade apartments (good quality, good location). Smaller and/or older style apartments continue to see more modest increases in value. In the City of Minneapolis, apartments saw an even more striking overall increase of 28.6%, which, in large part, was driven by another $568 million of new improvements. In the last two assessments, the City of Minneapolis s apartment market has had over a billion dollars of new construction value added. COMMERCIAL AND INDUSTRIAL (*see note about Utility and Railroad Properties) County-wide, commercial and industrial properties improved, with an 8.2% increase. Commercial property values increased 1.2%, while industrial property values increased only 1.9%. Investmentgrade properties are continuing to see the strongest improvement. In breaking down the suburban Hennepin market, commercial values were up 8.4%, while industrial values increased 5.5%. Suburban Hennepin combined commercial and industrial property values increased 7.6%. Overall, the Minneapolis combined commercial and industrial market increased 9.7%. Here is a Property Type Index to reference as you read the assessment data: A = Apartment C = Commercial F = Agriculture I = Industrial R= Single Family Residential RL = Single Family Residential with Water Influence X = Condominiums Y = Townhomes Page 9 of 55

10 HENNEPIN COUNTY CUMULATIVE GROWTH - 3/2/215 PERCENT OF CHANGE FROM PREVIOUS YEAR (Original Assessment as Approved) PT*** YEAR TOTAL 1 YEAR TOTAL BLOOMINGTON A % 2.4% C % 29.6% F % -95.2% I % 6.6% R % -6.5% X % -2.2% Y % -13.4% BROOKLYN A % 1.1% CENTER C % 4.3% I % 12.4% R % -2.5% X % -46.4% Y % -38.1% BROOKLYN A % 24.2% PARK C % 5.7% F % -2.2% I % 1.3% R % -13.4% X % -39.9% Y % -2.2% CHAMPLIN A % 16.9% C % 4.3% F % 29.7% I % 27.6% R % -13.2% X % -25.6% Y % -17.6% CHANHASSEN C % -13.5% I % 4.% CORCORAN C % -2.8% F % 59.8% I % -9.5% R % -3.3% CRYSTAL A % 6.1% C % 3.6% I % 5.% R % -17.2% X % -46.6% Y % -22.% DAYTON A % 5.2% C % 1.4% F % 64.8% I % 13.6% R % -12.5% DEEPHAVEN C % 1.6% R % 11.3% Y % -2.% 1 of 6 Page 1 of 55

11 HENNEPIN COUNTY CUMULATIVE GROWTH - 3/2/215 PERCENT OF CHANGE FROM PREVIOUS YEAR (Original Assessment as Approved) PT*** YEAR 1 YEAR TOTAL TOTAL EDEN A % 53.4% PRAIRIE C % 15.9% F % 3.6% I % 1.8% R % -2.% X % -16.3% Y % -1.3% EDINA A % 29.% C % 37.4% I % 23.9% R % 7.3% X % -21.9% Y % -11.4% EXCELSIOR A % -.6% C % 62.1% I % 111.3% R % 27.1% X % 5.6% Y % -3.5% GOLDEN A % 19.5% VALLEY C % 8.4% I % 3.5% R % -2.3% X % -19.8% Y % -14.2% GREENFIELD C % 27.% F % 46.3% I % 16.% R % -11.8% Y % -26.9% GREENWOOD A % -2.6% C % 14.7% R % 9.6% X % 41.9% HANOVER C % 4.7% F % -49.5% I % 5.8% R % -14.7% Y % -32.% HOPKINS A % 16.2% C % 21.5% I % 17.2% R % -4.7% X % -32.% Y % -17.8% INDEPENDENCE C % 1.9% F % 3.5% I % 6.1% R % -15.1% 2 of 6 Page 11 of 55

12 HENNEPIN COUNTY CUMULATIVE GROWTH - 3/2/215 PERCENT OF CHANGE FROM PREVIOUS YEAR (Original Assessment as Approved) PT*** YEAR 1 YEAR TOTAL TOTAL LONG A % 2.% LAKE C % -22.4% I % -14.3% R % -3.4% X % -25.4% Y % -12.7% LORETTO A % -6.% C % 2.6% F % -2.7% I % -7.% R % -11.7% Y % -22.2% MAPLE A % 31.6% GROVE C % 1.9% F % -11.7% I % 5.2% R % -4.5% X % -12.7% Y % -15.7% MAPLE A %.5% PLAIN C % -3.8% I % 6.8% R % -9.9% X % -11.3% MEDICINE A % -5.4% LAKE C % -34.5% R % -4.2% MEDINA A % -18.6% C % 16.5% F % 29.% I % 19.2% R % -5.7% X % -19.5% Y % -13.5% MINNEAPOLIS A % 24.3% C % 27.% I % 1.4% R % 1.5% X %.9% Y % -1.5% MINNETONKA A % 44.9% C % 27.5% F % 45.3% I % 16.9% R % -.5% X % -19.9% Y % -11.9% 3 of 6 Page 12 of 55

13 HENNEPIN COUNTY CUMULATIVE GROWTH - 3/2/215 PERCENT OF CHANGE FROM PREVIOUS YEAR (Original Assessment as Approved) PT*** YEAR 1 YEAR TOTAL TOTAL MINNETONKA C % 7.2% BEACH R % 9.6% MINNETRISTA C % -6.7% F % 1.2% I % -19.8% R % -7.6% Y % -18.9% MOUND A % 3.4% C % -.6% I % 56.9% R % -11.4% X % -25.8% Y % -17.2% NEW A % 3.1% HOPE C % 9.3% I % 17.3% R % -13.2% X % -4.5% Y % -33.2% ORONO A % 8.8% C % 4.1% F % 1.6% I % 2.8% R % -8.3% X % -41.3% Y % -19.8% OSSEO A % 15.6% C % -23.7% I % -5.3% R % -15.8% X % -3.4% Y % -23.8% PLYMOUTH A % 39.5% C % 25.3% F % 23.1% I % 21.5% R % -2.4% X % -15.1% Y % -11.2% RICHFIELD A % 13.7% C % 2.6% I % 6.3% R % -11.3% X % -21.7% Y % -19.% ROBBINSDALE A % 2.4% C % -1.8% I % -1.3% R % -2.8% X % -72.9% Y % -.7% 4 of 6 Page 13 of 55

14 HENNEPIN COUNTY CUMULATIVE GROWTH - 3/2/215 PERCENT OF CHANGE FROM PREVIOUS YEAR (Original Assessment as Approved) PT*** YEAR 1 YEAR TOTAL TOTAL ROCKFORD A % 1.6% C % -17.% I % -17.8% R % -15.8% Y % -29.6% ROGERS A % 43.4% C % -5.% F % 1.8% I % 25.2% R % -16.5% X % -5.9% Y % -21.4% SAINT A % 8.6% ANTHONY C % 28.5% I % 3.2% R % 1.9% X % -42.9% Y % -12.8% SAINT A % -8.4% BONIFACIUS C % -2.4% I % -5.7% R % -13.2% X % -6.5% Y % -18.7% SAINT A % 44.2% LOUIS C % 37.1% PARK I % 15.6% R % -.4% X % -13.5% Y % -7.9% SHOREWOOD A % -6.4% C % 28.1% F % 289.4% R %.8% Y % -9.9% SPRING A % 3.1% PARK C % 14.2% I % -1.6% R % -11.4% X % -37.% Y % -13.8% TONKA A % -15.3% BAY C % 34.7% R % 7.4% Y % -7.1% WAYZATA A % 5.9% C % 18.1% R % 1.3% X % -3.5% Y % -1.5% WOODLAND R % -3.8% 5 of 6 Page 14 of 55

15 HENNEPIN COUNTY CUMULATIVE GROWTH - 3/2/215 PERCENT OF CHANGE FROM PREVIOUS YEAR (Original Assessment as Approved) PT*** YEAR 1 YEAR TOTAL TOTAL HENNEPIN A % 27.2% COUNTY C % 28.6% F % -1.7% I % 5.8% R % -4.2% X % -8.% Y % -13.1% PT*** YEAR 1 YEAR TOTAL TOTAL SUBURBAN A % 27.8% HENNEPIN C % 22.8% F % -2.1% I % 14.5% R % -3.8% X % -13.9% Y % -11.9% *Note For Utility Properties (Property Type 'U' - which for this report is included with the Industrial property type category), Building and Machinery Values are assessed by the Minnesota Department of Revenue and these values are typically not available for the current assessment until mid-summer. *Growth is based on static parcels only and is a net change menaing improvement amounts have been removed. ***A = A, HF, HL, HM C = C, GC, ND, NP, SC, SL, SM F = BF, DF, F, FF, FP, LF, LV R = B, BJ, D, DJ, R, RL, RM, SR X = X, XC, XM, AX 6 of 6 Page 15 of 55

16 HENNEPIN PROPERTY TYPE GROWTH COMMERCIAL INDUSTRIAL APARTMENT SF RESIDENTIAL PERCENT CHANGE YEAR Run Date *Note For Utility Properties (Property Type 'U' - which for this report is included with the Industrial property type category), Building and Machinery Values are assessed by the Minnesota Department of Revenue and these values are typically not available for the current assessment until mid-summer. Page 16 of 55

17 SUBURBAN HENNEPIN PROPERTY TYPE GROWTH COMMERCIAL INDUSTRIAL APARTMENT SF RESIDENTIAL PERCENT CHANGE YEAR Run Date *Note For Utility Properties (Property Type 'U' - which for this report is included with the Industrial property type category), Building and Machinery Values are assessed by the Minnesota Department of Revenue and these values are typically not available for the current assessment until mid-summer. Page 17 of 55

18 215 SUBURBAN HENNEPIN COUNTY DIRECT SALES RATIO HISTOGRAM (R & RL) Based on 215 Assessment Sales Ratio Period of 1/213 to 9/214 Mean Ratio = 97.22% Median Ratio = 96.2 Standard Deviation = 11.3% Number of Sales = 6,842 Normal Distribution Report Created: (Sales & EMVs are from Initial 215 Assessments) Page 18 of 55

19 Suburban Hennepin - R & RL Mean & Median Sales Ratios By Assessed Year (26* - 215) ASSESSMENT YEAR DIRECT MEDIAN RATIO DIRECT MEAN RATIO 26* 95.9% 96.2% % 96.% % 95.9% % 96.3% % 97.4% % 96.9% MCAP MEDIAN RATIO MCAP MEAN RATIO % 97.1% 1.6% 99.4% % 97.3% 99.4% 97.6% % 11.7% 93.3% 91.1% % 97.2% 92.3% 93.3% *The following ratios are based on a weighted median and mean sales ratio and were generated from the original assessments as submitted for each year.) ** Refer to the Introduction and Overview sections of this report for explanations of direct ratios versus MCAP ratios. Page 19 of 55

20 ESTIMATED MARKET VALUE MEDIANS HENNEPIN COUNTY RESIDENTIAL SINGLE FAMILY* 215 ASSESSMENT FOR TAXES PAYABLE EMV Run Date: CITY BLOOMINGTON 244,9 248,2 242,8 228,8 213, 27,6 194,5 188,2 26,7 219,8 BROOKLYN CENTER 19,4 196,1 18,4 156,5 137,5 133,9 119,4 114,3 131,4 142,1 BROOKLYN PARK 222,2 228,1 221,8 198,3 175,2 166,1 156, 155,2 172,5 181,5 CHAMPLIN 226,4 233,1 225, 27, 19, 181, 166, 162, 177, 184, CORCORAN 31,5 327, 328, 32, 28, 27, 239,5 222, 269, 278, CRYSTAL 193, 198, 188, 173, 155, 151, 13, 131, 151, 153, DAYTON 26, 272, 271, 261, 245, 229, 194, 195, 219, 224, DEEPHAVEN 47,5 512,5 487,6 472, 446,5 448,5 43,5 429,5 473, 534, EDEN PRAIRIE 362,2 374,8 37,8 354,5 334,5 326,8 312,6 317,85 339,1 36,3 EDINA 433,3 444,75 428,5 432,7 411,5 43,6 396,55 4, 428,3 457,3 EXCELSIOR 39,4 346, 337,5 328, 298, 287, 269, 273, 335, 37, GOLDEN VALLEY 274, 282, 275, 27, 25, 245, 23, 227, 252,5 258, GREENFIELD 374, 416, 46,5 392, 351, 322, 31, 286,5 38, 327, GREENWOOD 82, 868, 813,5 814, 747, 711,5 693,5 667, 726, 74,5 HANOVER 374, 373, 367, 338, 33,5 33, 29, 266, 277, 35, HASSAN TOWNSHIP 327, 348,5 345, 334, 28, 273, 258, N/A N/A N/A HOPKINS 227, 233, 227, 221,5 27, 198, 191, 183, 26, 27, INDEPENDENCE 444, 472, 451, 417, 382, 357, 337, 337, 356, 36, LONG LAKE 255, 266, 249, 248, 245, 214, 217, 29, 222, 228, LORETTO 242, 245, 22, 28, 194,5 193,5 165, 182, 184,5 25, MAPLE GROVE 28,9 29,9 285,8 275,3 262,5 256,2 24,3 246,8 268,7 278,9 MAPLE PLAIN 235, 234, 232, 221, 194,5 184, 16, 178,5 18, 193, MEDICINE LAKE 643, 668, 671, 654,5 614, 574, 493,5 511, 586,5 574,5 MEDINA 55,5 592,5 67, 64,5 567, 528, 56,5 492, 53, 521,5 MINNEAPOLIS 212,5 214, 192, 19,6 185,5 18,5 17,5 17, 181, 191, MINNETONKA 317,3 327,4 322, 39,75 293,2 288, 277,4 273,7 297,5 317,75 MINNETONKA BEACH 982, 1,3, 1,26,5 1,2, 959,5 97, 868,5 794,5 98, 1,2, MINNETRISTA 468, 488, 472,9 458, 42,5 384, 36, 353, 387, 385, MOUND 233, 237, 232, 218, 26,5 191, 161, 162, 189, 192, NEW HOPE 224, 228, 223, 29, 193, 181, 164, 168, 18, 188,5 ORONO 666, 724, 78,6 696, 638, 589, 535, 528, 546, 572, OSSEO 22, 22, 196, 188, 167, 159, 133, 131, 147, 165, PLYMOUTH 333,6 343,1 334,4 318,9 34, 299,5 285,35 294, 316,1 327, RICHFIELD 217, 223, 212, 195, 181, 177, 163, 159, 173, 18, ROBBINSDALE 199,25 2, 195, 176, 157, 149, 137, 125, 149, 146, ROCKFORD 29, 218, 217, 198, 17, 167,5 154, 151, 164, 171,5 ROGERS 288, 285, 29, 262, 241, 224, 227, 225, 251, 263, ST. ANTHONY 259, 266, 253, 238,25 225, 223, 27, 28, 223, 255, ST. BONIFACIUS 239,5 24, 23, 217, 21, 193,5 171, 18, 199, 23, ST. LOUIS PARK 238,6 243,8 239,7 233,3 223,6 219,2 211,55 24,8 217,4 227,7 SHOREWOOD 419, 431, 428, 419, 389, 373,5 364, 367, 386,5 41, SPRING PARK 385, 427, 418,7 395, 362, 33, 285,5 269,5 352, 353, TONKA BAY 619, 723, 673, 68,5 64, 562, 519,5 54, 474, 473, WAYZATA 433, 464, 467, 461, 444, 439,5 414, 412,5 431, 475, WOODLAND 915, 945, 938, 943,5 893, 854, 812,5 792, 719, 848, SUBURBAN HENNEPIN 263, 27,2 264,5 252,8 236,7 229,6 217,5 217, 235,8 248, ALL HENNEPIN 248, 253, 244, 234,5 221,5 215, 23,1 22,5 219,6 23,5 *Includes all single subrecord taxable R & RL parcels Page 2 of 55

21 3, 275, 25, 225, 2, 175, 15, 125, 1, Estimated Market Value Medians 1 Year History for R & RL Property Types Minneapolis Suburban Hennepin Assessment Year Page 21 of 55 Estimated Market Value

22 Hennepin County Mean & Median Sales* Prices Single-Family Residential (R & RL) Run Date: 4/24/215 Jan-Dec 211 Jan-Dec 212 Jan-Dec 213 Jan-Dec 214 City Mean Median #Cases Mean Median #Cases Mean Median #Cases Mean Median #Cases Bloomington $229,546 $212, ,6 192, ,848 22, ,526 23, 599 Brooklyn Center $122,285 $124, ,22 119, , , , ,9 214 Brooklyn Park $19,377 $174, , , , , ,51 191,5 494 Champlin $212,364 $185, ,34 165, , , , , 171 Corcoran $32,427 $276, ,238 25, ,68 35, , , 31 Crystal $143,319 $145, , , ,93 156, , , 23 Dayton $237,6 $182, , , 32 32, , ,46 212,25 24 Deephaven $679,37 $544, ,14 54, 5 81,454 59, 52 68, , 43 Eden Prairie $46,661 $369, , , ,228 35, , , 435 Edina $558,936 $436, , , , , ,88 449, Excelsior $496,395 $35, , , ,877 25, 18 48,919 36, 9 Golden Valley $271,217 $238, ,54 243, , , ,26 284,7 188 Greenfield $429,732 $374, 2 37,688 33, ,669 41, 23 46,576 39, 17 Greenwood $1,88,364 $94, , , 16 1,65, , 12 1,33, , 9 Hanover $394, $394, 2 335, , , , ,25 34, 4 Hassan $234,5 $234,5 1 N/A N/A N/A N/A N/A N/A N/A N/A N/A Hopkins $259,63 $223, ,84 22, , , , ,9 65 Independence $48,1 $378, 15 46,71 441, , , , ,45 28 Long Lake $322,387 $299,5 8 32, 226, , , ,666 22,5 15 Loretto $22,583 $225, , , 3 239,19 24, ,85 261,25 4 Maple Grove $33,918 $278, , , ,877 3, ,46 3, 442 Maple Plain $168,698 $153,5 1 25, , 17 23, , ,31 217,5 13 Medicine Lake $486,625 $486, , 614, 1 593, 639, 3 62, 62, 1 Medina $89,652 $625, 29 69,38 397, , , 47 81, , Minneapolis $246,156 $196,7 1,724 24, , 2, ,59 212, 3, ,56 21, 2,92 Minnetonka $348,77 $3, , , ,94 329, ,286 33,5 33 Minnetonka Beach $1,588,188 $1,137,5 8 95,727 1,4, ,14 67, 9 1,413,166 1,485, 8 Minnetrista $449,743 $4, , 384, ,62 414, , , 67 Mound $37,29 $31, , , , , , , 93 New Hope $174,822 $171, ,43 172, 15 19, , ,31 23,75 12 Orono $935,388 $779, ,15 514, , , , ,25 94 Osseo $127,333 $125, 9 143, , 21 16,73 164, ,335 18, 17 Plymouth $339,552 $33, ,41 3, ,78 334, ,363 35,2 444 Richfield $178,917 $172, , , , , ,33 194,25 27 Robbinsdale $149,43 $145, , , ,8 151, , ,45 14 Rockford $ $ 289, 289, 2 2, 2, 2 Rogers $234,127 $236, ,61 239, ,695 26, , ,9 91 Shorewood $555,536 $445, 52 6, , , , , , 62 Spring Park $321,233 $33, 3 375, , ,33 34, , ,995 1 St Anthony $223,332 $223, ,419 28, , , , ,45 6 St Bonifacius $198,14 $174,5 1 28, , 17 28, , ,59 21, 17 St Louis Park $271,24 $225, ,361 23, , , , , Tonka Bay $1,267,741 $867, , , ,74 852, ,8 57, 17 Wayzata $775,65 $515, 15 1,79, , ,56 4, 29 1,172,83 47, 27 Woodland $2,5, $2,5, 1 1,385,429 1,275, 7 728,71 36, 7 2,86,333 1,594, 6 Henn Cty Totals $298,178 $227,2 5,23 286,17 218, 8,423 38, ,875 1,4 316, , 8,585 Sales prices * are direct sales prices Page 22 of 55

23 Data As of , Hennepin Co. CRV Counts By Calendar Year Minneapolis 3, Suburban All Hennepin Count of CRVs (Sales) 25, 2, 15, 1, 5, Years CRV (Certificate of Real Estate Value) Counts Year Minneapolis Count Suburban Count Hennepin Count 25 11,815 21,46 33, ,565 17,948 27, ,168 14,164 22, ,687 12,231 19, ,4 13,432 21, ,54 11,756 18, ,51 12,892 18, ,161 15,455 22, ,193 17,373 25, ,756 15,94 23,696 Page 23 of 55

24 Estimated Market Values - Munic Totals Assessment Report No. PI ESTIMATED ESTIMATED ESTIMATED QUALIFYING MUNIC (MUNIC NUMBER) LAND BUILDINGS MACHINERY* MARKET VAL IMPROV TAX SUBRECORDS PARCELS CAPACITY EXEMPT TAX TOTAL EXEMPT TAX TOTAL BLOOMINGTON (2) TOTAL: 4,326,157, 7,58,72,1 11,384,877,1 99,8 152,46, ,416 31, ,343 31,183 BROOKLYN CENTER (22) TOTAL: 543,868, 1,214,331,7 1,758,199,7 44,3 2,199, ,631 8, ,68 8,897 BROOKLYN PARK (48) TOTAL: 1,638,41,6 4,174,342,2 5,812,383,8 23,3 65,738, ,667 24, ,575 24,2 CHAMPLIN (5) TOTAL: 493,532,5 1,345,951,5 1,839,484, 23,9 18,718, ,16 8, ,156 8,473 CHANHASSEN (14) TOTAL: 18,826, 48,983, 67,89, 1,347, CORCORAN (52) TOTAL: 32,481,4 49,56,2 729,987,6 2, 7,25, ,79 3, ,311 2,349 CRYSTAL (54) TOTAL: 422,582,8 1,67,85, 1,49,432,8 13,6 15,116, ,9 8, ,992 8,275 DAYTON (56) TOTAL: 215,988,6 36,19,1 522,97,7 5,548, ,275 2, ,845 1,977 DEEPHAVEN (59) TOTAL: 596,163, 549,818, 1,145,981, 336,1 12,878, ,563 1, ,56 1,616 EDEN PRAIRIE (61) TOTAL: 3,84,971,5 6,453,973,1 9,538,944,6 116,737, ,16 23, ,865 22,699 EDINA (24) TOTAL: 4,45,27,2 5,956,587,5 1,46,794,7 231,9 125,337, ,774 21, ,74 21,39 EXCELSIOR (63) TOTAL: 217,12,7 197,357,4 592,2 415,52,3 69,2 5,15, FORT SNELLING (41) TOTAL: GOLDEN VALLEY (28) TOTAL: 1,294,87,6 1,88,71,2 3,175,517,8 143,8 4,147, ,371 8, ,343 8,648 GREENFIELD (65) TOTAL: 157,777,4 244,732,2 42,59,6 34, 4,95, ,681 1, ,311 1,359 GREENWOOD (19) TOTAL: 21,36, 99,346, 3,382, 2, 3,439, HANOVER (67) TOTAL: 19,724,5 49,464,5 69,189, 676, HOPKINS (3) TOTAL: 565,77,4 1,1,72,7 1,666,428,1 188,2 21,563, ,156 5, ,127 5,311 INDEPENDENCE (7) TOTAL: 287,21,3 346,93,6 634,14,9 28,3 6,331, ,264 2, ,668 1,75 INTERNATL AIRPORT (43) TOTAL: LONG LAKE (72) TOTAL: 71,149,6 152,834,4 223,984, 2,672, LORETTO (74) TOTAL: 12,597,1 45,521, 58,118,1 639, Page 1 of 3 Page 24 of 55 Data As Of: 4/6/215

25 Estimated Market Values - Munic Totals Assessment Report No. PI ESTIMATED ESTIMATED ESTIMATED QUALIFYING MUNIC (MUNIC NUMBER) LAND BUILDINGS MACHINERY* MARKET VAL IMPROV TAX SUBRECORDS PARCELS CAPACITY EXEMPT TAX TOTAL EXEMPT TAX TOTAL MAPLE GROVE (76) TOTAL: 2,181,459,2 5,81,4,9 7,991,5,1 15, 91,365, ,114 25, ,858 25,653 MAPLE PLAIN (77) TOTAL: 5,565,2 111,674,2 162,239,4 3, 1,962, MEDICINE LAKE (79) TOTAL: 5,79,4 26,922, 77,712,4 837, MEDINA (8) TOTAL: 555,373,3 93,813,8 1,486,187,1 14,2 16,871, ,354 3, ,881 2,998 MINNEAPOLIS (1) TOTAL: 8,951,619,4 3,43,163,4 39,381,782,8 5,96,68 481,672,4 7, ,679 13,22 7, ,7 129,114 MINNETONKA (34) TOTAL: 3,326,188,5 5,13,351,2 8,429,539,7 424,2 13,714, ,86 2, ,714 2,631 MINNETONKA BEACH (82) TOTAL 188,812,1 14,284,2 293,96,3 2, 3,421, : MINNETRISTA (36) TOTAL: 571,63, 757,667,8 1,329,297,8 22,8 13,965, ,12 4, ,397 3,622 MOUND (85) TOTAL: 484,516, 593,57, 1,77,573, 111,5 1,892, ,474 4, ,465 4,758 NEW HOPE (86) TOTAL: 424,379,7 1,96,614,4 1,52,994,1 4,7 17,871, ,916 6, ,92 6,26 ORONO (38) TOTAL: 1,411,622,2 1,133,854,8 2,545,477, 48,9 28,75, ,62 4, ,967 4,291 OSSEO (88) TOTAL: 54,324,6 157,699, 212,23,6 6,2 2,65, PLYMOUTH (4) TOTAL: 3,23,924,48 6,691,98,32 12,82,6 9,934,987,4 9,4 117,278, ,28 27, ,852 26,737 RICHFIELD (42) TOTAL: 1,37,353,4 1,818,854,1 2,856,27,5 174,6 33,5, ,61 11, ,577 11,896 ROBBINSDALE (44) TOTAL: 289,458,9 59,713, 88,171,9 8,578, ,161 5, ,153 5,297 ROCKFORD (9) TOTAL: 7,344,5 15,47, 22,391,5 265, ROGERS (92) TOTAL: 454,665,4 1,176,847,1 1,631,512,5 21,248, ,874 5, ,475 4,697 SHOREWOOD (26) TOTAL: 78,48,2 826,244, 1,534,292,2 61,5 16,711, ,54 3, ,4 3,144 SPRING PARK (17) TOTAL: 18,377,6 121,344,5 229,722,1 2,712, ST ANTHONY (94) TOTAL: 189,31, 368,689,5 557,72,5 1, 5,791, ,233 2, ,23 2,294 ST BONIFACIUS (95) TOTAL: 35,35,5 154,664,3 189,969,8 1,936, , ST LOUIS PARK (46) TOTAL: 1,953,671,4 3,877,126,1 7,37,1 5,838,14,6 772,1 71,83, ,277 17, ,217 17,679 Page 2 of 3 Page 25 of 55 Data As Of: 4/6/215

26 Estimated Market Values - Munic Totals Assessment Report No. PI ESTIMATED ESTIMATED ESTIMATED QUALIFYING MUNIC (MUNIC NUMBER) LAND BUILDINGS MACHINERY* MARKET VAL IMPROV TAX SUBRECORDS PARCELS CAPACITY EXEMPT TAX TOTAL EXEMPT TAX TOTAL TONKA BAY (97) TOTAL: 336,772,8 185,811, 522,583,8 16,2 5,9, WAYZATA (99) TOTAL: 822,135,4 822,595,1 1,644,73,5 13,2 21,413, ,765 1, ,741 1,83 WOODLAND (15) TOTAL: 169,681, 114,875, 284,556, 2, 3,33, SUBURBAN TOTAL: 37,58,362,98 65,294,559,72 19,981,9 12,894,94,6 3,248,9 1,227,567,859 11, ,363 34,13 1, ,14 297,259 HENNEPIN COUNTY TOTAL: 46,531,982,38 95,724,723,12 19,981,9 142,276,687,4 9,155,58 1,79,239,899 19,38 415,42 434,35 17,659 48, ,373 *Note Regarding State Assessed Values: For Utility Properties (Property Type 'U'), Building and Machinery Values are assessed by the Minnesota Department of Revenue and these values are typically not available for the current assessment until mid-summer. Page 3 of 3 Page 26 of 55 Data As Of: 4/6/215

27 215 Property Type Table - Munic Tax Capacities Report No. PI31821-PDS1 MUNICIPALITY: COMMERCIAL: INDUSTRIAL*: APARTMENT: RESIDENTIAL: FARM: OTHER: MUNIC TOTAL: BLOOMINGTON 214 Pay 215: 58,25,773 13,21,347 9,773,118 55,212,592 6,52 56, ,5, Pay 216: 68,582,261 13,94,35 11,276,961 59,465,471 8,248 33, ,46, % -.81% 15.39% 7.7% 26.5% -4.43% 11.69% BROOKLYN CENTER 214 Pay 215: 215 Pay 216: 5,594,239 2,293,58 2,238,857 8,818,5 1,794 6,84 5,636,758 2,344,3 2,36,164 9,849,81 1,79 6,84 18,953,288 2,199,392.76% 2.2% 5.42% 11.7% -.22%.% 6.57% BROOKLYN PARK 214 Pay 215: 1,97,852 9,996,519 3,631,282 36,48, ,975 6,289, Pay 216: 11,152,652 1,758,34 4,73,181 39,178, ,236 65,738, % 7.62% 12.17% 8.68% 11.49%.% 9.4% CHAMPLIN 214 Pay 215: 2,227,92 94,45 463,888 14,443,129 17,8 7,35 18,63, Pay 216: 2,23,51 1,74,4 51,41 14,886,37 17, ,718,939.12% 18.75% 1.3% 3.7% 1.34% % 3.63% CHANHASSEN 214 Pay 215: 39,51 1,3, ,34, Pay 216: 297,71 1,49, ,347, % 1.86%.%.%.%.%.55% CORCORAN 214 Pay 215: 37, ,492 5,191, ,957 69,375 6,872, Pay 216: 37, ,86 5,6, ,968 69,375 7,25,43 -.3% -.18%.% 7.88% -3.23%.% 5.49% CRYSTAL 214 Pay 215: 2,337,117 67,934 1,29,394 1,2,39 14,49 14,513, Pay 216: 2,394,297 73,344 1,472,99 1,54,874 14,49 15,116, % 8.85% 14.15% 2.99%.%.% 4.16% DAYTON 214 Pay 215: 277,536 78,948 3,226 3,449, ,61 86,45 5,84, Pay 216: 276,158 1,27,848 3,413 3,672,31 48,198 89,15 5,548, % 31.62% 5.8% 6.44% -1.32% 3.12% 9.13% DEEPHAVEN 214 Pay 215: 345,625 15,87 48,63 11,161,429 1,26 11,581, Pay 216: 345,625 3,32 14,163 12,378,982 1,26 12,878,35.% -79.8% % 1.91%.%.% 11.2% Page 1 of 6 Page 27 of 55 Data as of: 4/6/215

28 215 Property Type Table - Munic Tax Capacities Report No. PI31821-PDS1 MUNICIPALITY: COMMERCIAL: INDUSTRIAL*: APARTMENT: RESIDENTIAL: FARM: OTHER: MUNIC TOTAL: EDEN PRAIRIE 214 Pay 215: 27,348,977 11,416,158 7,45,373 63,97,631 49,597 19,767, Pay 216: 29,243,525 11,51,588 7,667,144 68,271,231 45,52 116,737, %.83% 8.83% 6.83% -9.16%.% 6.35% EDINA 214 Pay 215: 26,64,187 3,962,918 4,956,747 81,819,89 117,379, Pay 216: 28,616,138 4,331,953 6,418,523 85,971, ,337, % 9.31% 29.49% 5.7%.%.% 6.78% EXCELSIOR 214 Pay 215: 1,496,299 38, ,85 2,654,523 6,585 4,63, Pay 216: 1,657,519 17, ,168 2,991,631 6,75 5,15, % -54.3% 9.73% 12.7%.% 2.51% 11.23% FORT SNELLING 214 Pay 215: 215 Pay 216:.%.%.%.%.%.%.% GOLDEN VALLEY 214 Pay 215: 11,58,318 5,41,778 1,442,6 19,751,721 37,743, Pay 216: 12,573,8 5,46,885 1,869,653 2,296,851 4,147, % 7.24% 29.65% 2.76%.%.% 6.37% GREENFIELD 214 Pay 215: 259,27 272,434 3,7, ,75 3,917, Pay 216: 198,5 317,842 3,181,79 397,139 4,95, % 16.67%.% 5.8% 4.87%.% 4.53% GREENWOOD 214 Pay 215: 158,188 17,15 3,11,115 3,276, Pay 216: 183,488 17,375 3,238,456 3,439, %.% 1.31% 4.43%.%.% 4.97% HANOVER 214 Pay 215: 6,18 2, ,617 31,56 61,2 215 Pay 216: 6,18 2, ,16 32, ,553.% 7.89%.% 11.5% 2.64%.% 1.91% HOPKINS 214 Pay 215: 5,597,972 3,477,39 3,286,378 8,21,26 22,38 2,585, Pay 216: 5,815,636 3,536,1 3,726,1 8,463,418 22,59 21,563, % 1.69% 13.38% 3.2%.%.94% 4.75% Page 2 of 6 Page 28 of 55 Data as of: 4/6/215

29 215 Property Type Table - Munic Tax Capacities Report No. PI31821-PDS1 MUNICIPALITY: COMMERCIAL: INDUSTRIAL*: APARTMENT: RESIDENTIAL: FARM: OTHER: MUNIC TOTAL: INDEPENDENCE 214 Pay 215: 195, ,595 5,88,77 813,295 6,261, Pay 216: 136,163 19,391 5,188, ,488 6,331, % 16.38%.% 1.97%.39%.% 1.13% INTERNATL AIRPORT 214 Pay 215: 215 Pay 216:.%.%.%.%.%.%.% LONG LAKE 214 Pay 215: 495,3 494,786 84,41 1,583,252 2,657, Pay 216: 499, ,786 86,292 1,592,67 2,672,861.84%.% 2.68%.59%.%.%.59% LORETTO 214 Pay 215: 161, 47,291 22, ,228 1,555 61, Pay 216: 161,41 47,291 23,184 46,59 1, ,9.3%.% 2.29% 7.36% -7.78%.% 4.63% MAPLE GROVE 214 Pay 215: 17,896,419 9,23,138 1,816,132 57,987,749 2,53 87,13, Pay 216: 18,55,525 9,387,163 2,37,726 61,46,179 29,354 91,365,947.89% 2.% 27.7% 5.9% 4.4%.% 4.89% MAPLE PLAIN 214 Pay 215: 232, , ,44 86,633 1,822,1 215 Pay 216: 236,76 617, , ,272 1,962, % 6.98% 2.61% 1.76%.%.% 7.73% MEDICINE LAKE 214 Pay 215: 21,8 1,648 2, , , Pay 216: 21,8 1,648 2, , ,975.%.%.% -1.73%.%.% -1.63% MEDINA 214 Pay 215: 1,132,651 1,168,293 34,4 12,673,74 686,949 2,445 15,698, Pay 216: 1,77,27 1,152,564 35,577 13,91,724 72,614 2,445 16,871, % -1.35% 4.52% 9.69% 2.28%.% 7.48% MINNEAPOLIS 214 Pay 215: 128,314,965 26,338,229 55,967, ,63,322 17,48 253, ,521, Pay 216: 145,688,416 19,56,121 71,99,25 244,211,954 17, , ,672, % % 28.63% 6.82% 1.84% 1.87% 9.59% Page 3 of 6 Page 29 of 55 Data as of: 4/6/215

30 215 Property Type Table - Munic Tax Capacities Report No. PI31821-PDS1 MUNICIPALITY: COMMERCIAL: INDUSTRIAL*: APARTMENT: RESIDENTIAL: FARM: OTHER: MUNIC TOTAL: MINNETONKA 214 Pay 215: 3,238,241 5,367,396 6,918,87 55,53,92 14,244 97,592, Pay 216: 31,671,677 5,814,782 7,486,379 58,734,419 7,49 13,714, % 8.34% 8.2% 6.69% %.% 6.27% MINNETONKA BEACH 214 Pay 215: 215 Pay 216: 88,17 3,166,589 85,57 3,335,575 3,254,759 3,421, %.%.% 5.34%.%.% 5.11% MINNETRISTA 214 Pay 215: 114,332 63,38 12,956, ,566 13,666, Pay 216: 92,662 46,37 13,318,19 58,258 13,965, % %.% 2.79% -4.56%.% 2.19% MOUND 214 Pay 215: 6, , ,926 9,71,68 11,1 1,665, Pay 216: 629,51 154,82 225,48 9,871,46 11,1 1,892, % 21.98% 3.94% 1.66%.%.% 2.12% NEW HOPE 214 Pay 215: 1,357,749 4,722,932 2,447,518 8,11,282 16,638, Pay 216: 1,399,256 5,157,952 2,74,86 8,69,199 17,871, % 9.21% 1.51% 6.15%.%.% 7.41% ORONO 214 Pay 215: 956, ,526 13,23 26,187,138 56,732 27,566, Pay 216: 918,9 194, ,638 27,41,739 46,798 28,75, % % 11.6% 4.64% %.% 4.13% OSSEO 214 Pay 215: 739, , , ,5 2,49 2,362, Pay 216: 722,9 49,87 481,125 99,621 2,49 2,65, % 5.75% 32.1% 13.99%.%.% 1.28% PLYMOUTH 214 Pay 215: 17,912,389 17,529,63 8,155,256 68,426, ,3 22, ,282, Pay 216: 18,382,913 17,762,84 9,13,268 71,931, ,71 22, ,278, % 1.33% 1.52% 5.12% -3.14%.% 4.45% RICHFIELD 214 Pay 215: 1,823, ,68 3,464,48 16,911,652 21,63 31,369, Pay 216: 11,45, ,4 3,787,365 17,587,6 22,588 33,5, % 65.69% 9.33% 3.99%.% 7.24% 5.36% Page 4 of 6 Page 3 of 55 Data as of: 4/6/215

31 215 Property Type Table - Munic Tax Capacities Report No. PI31821-PDS1 MUNICIPALITY: COMMERCIAL: INDUSTRIAL*: APARTMENT: RESIDENTIAL: FARM: OTHER: MUNIC TOTAL: ROBBINSDALE 214 Pay 215: 1,128, , ,273 6,615,419 1,935 8,62, Pay 216: 1,139,28 72,938 87,22 6,556,668 1,935 8,578,23.95% % 6.88% -.89%.%.% -.49% ROCKFORD 214 Pay 215: 29,11 58,64 39,71 15, , , Pay 216: 29,11 58,36 42,638 11, ,81 265,58.% -.48% 7.4% 5.1% -1.65% 29.67% 5.39% ROGERS 214 Pay 215: 3,686,828 6,397,549 6,32 8,494, ,78 19,712, Pay 216: 3,856,268 7,195,847 63,72 9,9,21 475,268 21,248, % 12.48% 5.6% 7.1% -1.95%.% 7.79% SHOREWOOD 214 Pay 215: 764,75 132,37 22,314 14,982,792 5,33 19,2 15,926, Pay 216: 756, ,28 24,288 15,733,176 4,84 19,2 16,711, % 3.91% 8.85% 5.1% -3.83%.% 4.93% SPRING PARK 214 Pay 215: 452, ,25 55,525 1,431,56 2,578,2 215 Pay 216: 46,75 149,22 62,543 1,499,785 2,712, % 4.17% 9.45% 4.77%.%.% 5.2% ST ANTHONY 214 Pay 215: 51,58 382,26 313,46 3,835,592 42,938 5,75, Pay 216: 51,58 382,26 34,594 4,524,442 42,938 5,791,814.%.% 8.8% 17.96%.%.% 14.12% ST BONIFACIUS 214 Pay 215: 38,85 88,785 31,29 1,412, ,841, Pay 216: 38,72 92,535 31,86 1,52, ,936, % 4.22% 1.65% 6.44%.%.% 5.16% ST LOUIS PARK 214 Pay 215: 17,837,3 5,626,498 8,992,295 33,135,834 8,184 65,599, Pay 216: 19,884,44 5,642,84 1,256,832 35,292,38 8,589 71,83, %.28% 14.6% 6.51%.% 4.95% 8.36% TONKA BAY 214 Pay 215: 25,379 2, 5,68,424 5,815, Pay 216: 27,519 2, 5,69,99 5,9, %.%.% 1.47%.%.% 1.46% Page 5 of 6 Page 31 of 55 Data as of: 4/6/215

32 215 Property Type Table - Munic Tax Capacities Report No. PI31821-PDS1 MUNICIPALITY: COMMERCIAL: INDUSTRIAL*: APARTMENT: RESIDENTIAL: FARM: OTHER: MUNIC TOTAL: WAYZATA 214 Pay 215: 5,872,2 269,524 1,338,978 12,99,96 25,2 19,65, Pay 216: 6,114,94 187,68 1,712,649 13,373,787 25,2 21,413, % -3.59% 27.91% 1.53%.%.% 9.22% WOODLAND 214 Pay 215: 3,66,13 3,66, Pay 216: 3,33,587 3,33,587.%.%.% 8.63%.%.% 8.63% SUBURBAN HENNEPIN 214 Pay 215: 215 Pay 216: 266,515,241 16,917,327 71,11, ,89,331 5,529,92 456,148 1,149,69, ,27, ,193,444 8,934, ,36,998 5,425, ,2 1,227,567, % 4.% 13.83% 6.4% -1.89% -4.2% 6.78% HENNEPIN COUNTY 214 Pay 215: 215 Pay 216: 394,83,26 133,255, ,69, ,719,653 5,546,968 79,395 1,589,131, ,958,752 13,699, ,925,13 985,518,952 5,442, ,985 1,79,239, % -1.92% 2.35% 6.23% -1.88% -2.3% 7.56% *Note Regarding State Assessed Values: For Utility Properties (Property Type 'U'), Building and Machinery Values are assessed by the Minnesota Department of Revenue and these values are typically not available for the current assessment until mid-summer. Page 6 of 6 Page 32 of 55 Data as of: 4/6/215

33 Final 214 Assessment For 215 Taxes Count Of Parcels Hennepin County Valuation Comparison Preliminary 215 Assessment For 216 Taxes Count Of Parcels Change From 214 Assessment to 215 Assessment Count Of Parcels % Change 214 to 215 Count Of Parcels Estimated Market Value (Pers Prop Accounts) Estimated Market Value (Real Estate) City of MPLS (Minneapolis) Hennepin Co (Non-MPLS) Total Hennepin Co (Real Estate) 36,134,78,8 97,16,691,7 133,151,4,5 Total Estimated Market Value 134,691,712,4 LESS "This Old House" Qualifying Imps City of MPLS Hennepin Co (Non-MPLS) 11,183,85 6,192,8 Total Qualifying Improvements 17,376,65 LESS Veteran's Exclusion City of MPLS Hennepin Co (Non-MPLS) 47,122,3 177,35,9 Total Veteran's Exclusion 224,158,2 1,282 LESS Hmstd Market Value Exclusion City of MPLS Hennepin Co (Non-MPLS) Taxable Market Value (Pers Prop Accounts) Taxable Market Value (Real Estate) City of MPLS Hennepin Co (Non-MPLS) Total Hennepin County (Real Estate) 1,54,311,9 1,349,26,16 3,45,5,926 Total Hmstd Market Value Exclusion 4,799,311,32 434,159 1,54,311,9 34,727,142,544 93,383,985,74 128,111,127,618 Total Taxable Market Value 129,651,439, ,545,91,9 39,381,782,8 12,894,94,6 142,276,687,4 143,822,589,3 5,96,68 3,248,9 1,542 9,155,58 1,125-8,221, ,428 33,731 49,663, ,489, ,152,35 1,253 1,275,72,129 3,242,12,584 4,517,822, ,35-281,488, ,54,91,9 * 5,59, 38,5,51,691 99,472,61,66 137,523,12, ,69,22,657 * ,22 34,13 5,59, 3,247,74, 5,878,212,9 9,125,286,9 9,13,876,9-5,277,17-2,943,9 2,541, 5 453, ,994, ,323,368,147 6,88,624,992 9,411,993,139 9,417,583, ,557, ,93, % 8.99% 6.6% 6.85% 6.78% % % % 5.39% 1.68%.26% -3.45% 1.34% -2.26%.36% 9.57% 6.52% 7.35% 7.26% % % -27.4% -5.45% -.16% -6.3%.13% -5.87%.4% Tax Capacity (Personal Property Accounts) Tax Capacity (Real Estate) City of MPLS Hennepin Co (Non-MPLS) Total Hennepin Co (Real Estate) 3,51, ,521,662 1,149,69,961 1,589,131,623 Total Tax Capacity 1,619,182,777 3,147, ,672,4 1,227,567,859 1,79,239,899 1,739,291,53 *&** ** ** ** ** 95,958 42,15,378 77,957,898 12,18,276 12,18,276.32% 9.59% 6.78% 7.56% 7.42% Number of Parcels (Taxable & Exempt): Personal Property Accounts Real Estate (MPLS) Real Estate (Non-MPLS) 1, , ,69 Total Hennepin County Parcels 427,233 1, , , ,727 * % -.13%.22%.12% Report: DK99SS Data as of: 12/3/ Data as of: 4/6/215 Prepared by The Hennepin County Assessor's Office NOTES: * Preliminary 215 Personal Property Figures have 214 MSP Airport Figures. **TAX CAPACITIES based on 214 Legislative base limits and percentages. State Assessed Values - Utility Properties (Prop Type = U) building and machinery values are assessed by the MN DOR and are typically not available until mid-summer.

34 Municipality Hennepin County 215 Assessment Market Value Exclusions Total Estimated Market Value Qualifying Impromnt (This Old House) % EMV Lost To Qualifying Imprvmnt Veteran's Exclusion % EMV Lost To Vets Exclsn Homestead Market Value Exclusion % EMV Lost To HMVE Total Taxable Market Value BLOOMINGTON 11,384,877,1 99,8.% 29,81,6.26% 41,763, % 1,952,278,894 BROOKLYN CENTER 1,758,199,7 44,3.% 9,614,45.55% 165,27, % 1,587,916,546 BROOKLYN PARK 5,812,383,8 23,3.% 35,15,.6% 374,574, % 5,412,557,836 CHAMPLIN 1,839,484, 23,9.% 5,4,.29% 133,17, % 1,72,498,17 CHANHASSEN 67,89,.%.% 9,2.1% 67,799,8 CORCORAN 729,987,6 2,.% 2,25,.31% 17,661, % 71,329,748 CRYSTAL 1,49,432,8 13,6.% 7,263,5.49% 154,478, % 1,331,27,226 DAYTON 522,97,7.% 2,1,.4% 2,231, % 5,172,439 DEEPHAVEN 1,145,981, 336,1.3% 6,.5% 3,717,4.32% 1,141,327,896 EDEN PRAIRIE 9,538,944,6.% 12,3,.13% 172,796, % 9,355,317,99 EDINA 1,46,794,7 231,9.% 1,5,.1% 113,733, % 1,284,424,522 EXCELSIOR 415,52,3 69,2.2% 6,.14% 2,549,725.61% 411,833,375 FORT SNELLING.%.%.% GOLDEN VALLEY 3,175,517,8 143,8.% 5,649,.18% 98,975, % 3,72,289,797 GREENFIELD 42,59,6 34,.1% 75,.19% 9,114, % 392,823,729 GREENWOOD 3,382, 2,.1% 3,.1% 58,7.19% 299,481,93 HANOVER 69,189,.%.% 1,854, % 67,334,35 HOPKINS 1,666,428,1 188,2.1% 2,7,.16% 55,214, % 1,68,836,48 INDEPENDENCE 634,14,9 28,3.% 1,5,.24% 8,48, % 624,335,58 INTERNATL AIRPORT.%.%.% LONG LAKE 223,984,.% 3,.13% 7,347, % 216,415,376 LORETTO 58,118,1.% 15,.26% 3,816, % 54,151,89 MAPLE GROVE 7,991,5,1 15,.% 16,458,9.21% 277,212, % 7,71,649,356 MAPLE PLAIN 162,239,4 3,.2% 3,.18% 8,71, % 153,3,524 MEDICINE LAKE 77,712,4.%.% 228,27.29% 77,484,13 MEDINA 1,486,187,1 14,2.% 459,1.3% 9,159,57.62% 1,476,554,743 MINNEAPOLIS 39,381,782,8 5,96,68.1% 71,7,.18% 1,275,72, % 38,5,51,691 MINNETONKA 8,429,539,7 424,2.1% 15,3,.18% 173,355, % 8,242,329,248 MINNETONKA BEAC 293,96,3 2,.1%.% 29,232.7% 292,867,68 MINNETRISTA 1,329,297,8 22,8.% 1,35,.1% 13,3,951 1.% 1,314,777,49 MOUND 1,77,573, 111,5.1% 4,35,.4% 48,38, % 1,26,126,658 NEW HOPE 1,52,994,1 4,7.% 6,78,.45% 98,24, % 1,418,97,37 ORONO 2,545,477, 48,9.% 2,1,.8% 13,835,542.54% 2,529,798,558 OSSEO 212,23,6 6,2.% 75,.35% 14,341, % 197,133,732 PLYMOUTH 9,934,987,4 9,4.% 18,81,1.18% 232,296, % 9,686,865,451 RICHFIELD 2,856,27,5 174,6.1% 14,6,3.49% 19,731, % 2,655,522,986 ROBBINSDALE 88,171,9.% 3,3,.37% 93,42, % 784,44,748 ROCKFORD 22,391,5.%.% 1,37, % 21,83,74 ROGERS 1,631,512,5.% 4,2,.26% 47,7, % 1,58,383,39 SHOREWOOD 1,534,292,2 61,5.% 1,65,.11% 13,26,6.85% 1,519,662,64 SPRING PARK 229,722,1.% 3,.13% 2,412,4 1.5% 227,176,6 ST ANTHONY 557,72,5 1,.% 2,1,.38% 26,142, % 529,594,37 ST BONIFACIUS 189,969,8.% 45,.24% 14,629, % 174,938,265 ST LOUIS PARK 5,838,14,6 772,1.1% 9,75,.17% 2,74, % 5,628,678,241 TONKA BAY 522,583,8 16,2.% 6,.11% 2,868,47.55% 519,99,13 WAYZATA 1,644,73,5 13,2.1% 9,.5% 6,9,57.37% 1,637,71,73 WOODLAND 284,556, 2,.1% 3,.11% 258,22.9% 283,977,78 TOTAL HENNEPIN 142,276,687,4 9,155,58.1% 32,113,95.21% 4,517,822, % 137,523,12,757 Data as of: 4/6/215 Page 34 of 55 Report No. DK99SS93-A2

35 215 HENNEPIN COUNTY NEW CONSTRUCTION* REPORT MUNIC PID COUNT IMPROVEMENT AMOUNT (ALL PT'S) ( 2 ) BLOOMINGTON ( 22 ) BROOKLYN CENTER ( 48 ) BROOKLYN PARK ( 5 ) CHAMPLIN ( 52 ) CORCORAN ( 54 ) CRYSTAL ( 56 ) DAYTON ( 59 ) DEEPHAVEN ( 61 ) EDEN PRAIRIE ( 24 ) EDINA ( 63 ) EXCELSIOR ( 28 ) GOLDEN VALLEY ( 65 ) GREENFIELD ( 19 ) GREENWOOD ( 67 ) HANOVER ( 3 ) HOPKINS ( 7 ) INDEPENDENCE ( 72 ) LONG LAKE ( 74 ) LORETTO ( 76 ) MAPLE GROVE ( 77 ) MAPLE PLAIN ( 79 ) MEDICINE LAKE ( 8 ) MEDINA ( 1 ) MINNEAPOLIS ( 34 ) MINNETONKA ( 82 ) MINNETONKA BEACH ( 36 ) MINNETRISTA ( 85 ) MOUND ( 86 ) NEW HOPE ( 38 ) ORONO ( 88 ) OSSEO ( 4 ) PLYMOUTH ( 42 ) RICHFIELD ( 44 ) ROBBINSDALE ( 9 ) ROCKFORD ( 92 ) ROGERS ( 26 ) SHOREWOOD ( 17 ) SPRING PARK ( 94 ) ST ANTHONY ( 95 ) ST BONIFACIUS ( 46 ) ST LOUIS PARK ( 97 ) TONKA BAY ( 99 ) WAYZATA ( 15 ) WOODLAND HENNEPIN TOTALS 1,126 $166,582,3 33 $9,391,1 435 $97,728,9 242 $11,731,5 52 $5,355, 28 $6,95, 13 $16,49,5 83 $22,674, 526 $125,781,9 721 $155,632,5 41 $4,64,2 357 $35,466, 46 $5,277,5 17 $3,22, 6 $2, 171 $12,784, 74 $6,576,5 16 $72,2 4 $55, 839 $125,492,6 14 $572, 11 $1,48, 257 $54,395,2 3,43 $861,567,2 52 $66,676,4 23 $7,194,2 27 $27,4, 16 $7,4,5 138 $5,36,5 292 $34,69,6 27 $9,357, 1,356 $143,942,8 575 $16,986,6 151 $3,618, 1 $2, 26 $43,495, 135 $14,47, 19 $1,189, 73 $1,,5 8 $217,4 634 $96,353,7 16 $2,194, 132 $83,335, 15 $2,836, 13,824 $2,295,513,3 * Improvement Amounts are for value added due to physical change in the calendar year preceeding the Assessment Year. Run Date: 4/6/215 Page 1 of 1 Page 35 of 55

36 Hennepin County Estimated Market Value 214 Assessment Run Date: 12/3/ Assessment Run Date: 3/17/215 Residential 71.35% Residential 7.47% Other.4% Other.4% Farm.52% Apartment 7.96% Industrial 5.8% Commercial 15.5% Farm.47% Apartment 8.95% Industrial 4.67% Commercial 15.39% Property Type EMV Land EMV Bldg EMV Mach EMV Total Property Type EMV Land EMV Bldg EMV Mach EMV Total Commercial $7,38,55,8 $13,6,57,9 $ $2,44,563,7 Commercial $7,28,85,5 $14,61,7,5 $ $21,89,93, Industrial $2,788,741,9 $3,776,57,1 $197,395,5 $6,762,644,5 Industrial $2,734,13,2 $3,888,97,8 $19,981,9 $6,642,92,9 Apartment $1,931,93,2 $8,664,399,1 $ $1,596,329,3 Apartment $2,77,689,28 $1,653,596,92 $ $12,731,286,2 Farm $576,121, $112,995,7 $ $689,116,7 Farm $548,767,3 $121,661,9 $ $67,429,2 Residential $32,656,341,1 $62,348,764, $ $95,5,15,1 Residential $33,89,29,3 $66,329,119,7 $ $1,219,149, Other $36,841,2 $16,8, $ $53,641,2 Other $36,854,1 $15,716,4 $ $52,57,5 Total $45,28,481,2 $87,925,523,8 $197,395,5 $133,151,4,5 Total $46,567,438,68 $95,618,2,22 $19,981,9 $142,25,62,8 *Note For Utility Properties (Property Type 'U' - which for this report is included with the Industrial property type category), Building and Machinery Values are assessed by the Minnesota Department of Revenue and these values are typically not available for the current assessment until mid-summer. Page 36 of 55

37 Hennepin County Taxable Market Value 214 Assessment 215 Assessment Run Date: 12/3/214 Run Date: 3/17/215 Residential 7.23% Residential 69.46% Other.4% Other.4% Farm.53% Apartment 8.27% Industrial 5.28% Commercial 15.65% Farm.48% Apartment 9.26% Industrial 4.83% Commercial 15.93% Property Type TMV Land TMV Bldg TMV Mach TMV Total Property Type TMV Land TMV Bldg TMV Mach TMV Total Commercial $7,38,55,8 $13,6,57,9 $ $2,44,563,7 Commercial $7,28,85,5 $14,61,7,5 $ $21,89,93, Industrial $2,986,137,4 $3,776,57,1 $197,395,5 $6,762,644,5 Industrial $2,753,995,1 $3,888,97,8 $19,981,9 $6,642,92,9 Apartment $1,93,825,285 $8,66,39,984 $ $1,591,216,269 Apartment $2,76,767,169 $1,649,672,544 $ $12,726,439,713 Farm $573,319,127 $18,624,934 $ $681,944,61 Farm $546,93,938 $117,463,326 $ $663,557,264 Residential $31,188,99,77 $58,788,28,811 $ $89,977,117,888 Residential $32,522,743,56 $62,955,93,415 $ $95,478,646,975 Other $36,841,2 $16,8, $ $53,641,2 Other $36,854,1 $15,716,4 $ $52,57,5 Total $43,754,537,889 $84,356,589,729 $197,395,5 $128,111,127,618 Total $45,216,539,367 $92,236,86,985 $19,981,9 $137,453,4,352 *Note For Utility Properties (Property Type 'U' - which for this report is included with the Industrial property type category), Building and Machinery Values are assessed by the Minnesota Department of Revenue and these values are typically not available for the current assessment until mid-summer. Page 37 of 55

38 Hennepin County Tax Capacity 214 Assessment 215 Assessment Run Date: 12/3/214 Run Date: 3/17/215 Residential 58.38% Other.4% Commercial 24.85% Residential 57.73% Other.4% Commercial 25.28% Farm.35% Industrial 8.39% Farm.32% Industrial 7.67% Apartment 8.% Apartment 8.96% Property Type Tax Capacity Percentage Property Type Tax Capacity Percentage Commercial $394,83, % Commercial $431,76, % Industrial $133,255, % Industrial $13,89, % Apartment $127,69,845 8.% Apartment $152,964, % Farm $5,546,968.35% Farm $5,438,285.32% Residential $927,719, % Residential $985,846, % Other $79,395.4% Other $694,985.4% Total $1,589,131,623 1.% Total $1,77,541,7 1.% *Note For Utility Properties (Property Type 'U' - which for this report is included with the Industrial property type category), Building and Machinery Values are assessed by the Minnesota Department of Revenue and these values are typically not available for the current assessment until mid-summer. Page 38 of 55

39 Hennepin County Net Tax Dollars by Property Type 214 Net Taxes 215 Net Taxes Run Date: 12/3/214 Run Date: 3/17/215 Other.5% Other.4% Residential 53.91% Commercial 29.19% Residential 52.2% Commercial 3.7% Farm.27% Apartment 6.5% Industrial 1.54% Farm.25% Apartment 7.28% Industrial 1.15% Property Type County Total Net Taxes Percent Property Type County Total Net Taxes Percent Commercial $736,152, % Commercial $88,27, % Industrial $265,855, % Industrial $272,89, % Apartment $152,511, % Apartment $195,734, % Farm $6,796,29.27% Farm $6,73,456.25% Residential $1,359,735, % Residential $1,42,94, % Other $1,184,485.5% Other $1,118,426.4% Total $2,522,235,363 1.% Total $2,687,324,998 1.% *Note For Utility Properties (Property Type 'U' - which for this report is included with the Industrial property type category), Building and Machinery Values are assessed by the Minnesota Department of Revenue and these values are typically not available for the current assessment until midsummer. Page 39 of 55

40 Hennepin County 1 Year Assessment Data Property Class as Percentage of Tax Base Estimated Market Value Property Type Grouping * Commercial & Industrial 18.2% 19.18% 2.52% 2.43% 2.29% 2.24% 21.2% 21.3% 2.1% 2.6% Apartment 5.92% 5.82% 5.9% 6.12% 6.17% 6.39% 6.91% 7.3% 7.95% 8.95% Residential 75.42% 74.36% 72.94% 72.86% 72.97% 72.8% 71.5% 71.1% 71.49% 7.47% Farm.6%.6%.6%.55%.52%.53%.53%.53%.51%.47% Other.4%.4%.4%.4%.4%.4%.4%.4%.4%.4% Taxable Market Value Property Type Grouping * Commercial & Industrial 18.63% 19.47% 2.61% 2.47% 2.33% 2.28% 21.99% 22.% 2.78% 2.76% Apartment 6.11% 5.91% 5.93% 6.13% 6.18% 6.4% 7.22% 7.63% 8.26% 9.26% Residential 74.77% 74.1% 72.88% 72.81% 72.92% 72.74% 7.19% 69.78% 7.39% 69.46% Farm.45%.48%.54%.55%.53%.53%.55%.55%.52%.48% Other.4%.4%.4%.4%.4%.5%.5%.4%.4%.4% Tax Capacity Property Type Grouping * Commercial & Industrial 3.18% 31.34% 32.86% 32.65% 32.49% 32.45% 34.69% 34.69% 33.3% 32.95% Apartment 6.1% 5.84% 5.8% 5.98% 6.4% 6.27% 6.96% 7.34% 8.2% 8.96% Residential 63.34% 62.43% 6.91% 6.93% 61.5% 6.87% 57.92% 57.55% 58.56% 57.73% Farm.33%.35%.39%.39%.37%.37%.37%.36%.35%.32% Other.5%.4%.4%.5%.5%.5%.5%.5%.4%.4% Years represent assessment years with taxes payable in the following year. *Data is run based on an early snap shot of each corresponding Assessment (typically May of each year). *For Utility Properties (Property Type 'U' - which for this report is included with the Industrial property type category), Building and Machinery Values are assessed by the Minnesota Department of Revenue and these values are typically not available for the current assessment until mid-summer. 215 Data as of: 3/17/215 Page 4 of 55

41 Hennepin County EMV, TMV, TC Percentages 215 Assessment Run Date: 3/17/215 8% EMV 7% TMV TC Percent of County Total Tax Capacity 6% 5% 4% 3% 2% 1% % Commercial Industrial* Apartment Residential Farm Other % % % County County County Property Type EMV TMV TC EMV TMV TC 1 Commercial 15.39% 15.93% 25.28% $21,89,93, $21,89,93, $431,76,754 2 Industrial* 4.67% 4.83% 7.67% $6,642,92,9 $6,642,92,9 $13,89,685 3 Apartment 8.95% 9.26% 8.96% $12,731,286,2 $12,726,439,713 $152,964,13 4 Residential 7.47% 69.46% 57.73% $1,219,149, $95,478,646,975 $985,846,978 5 Farm.47%.48%.32% $67,429,2 $663,557,264 $5,438,285 6 Other.4%.4%.4% $52,57,5 $52,57,5 $694,985 Total 1.% 1.% 1.% $142,25,62,8 $137,453,4,352 $1,77,541,7 *For Utility Properties (Property Type 'U' - which for this report is included with the Industrial property type category), Building and Machinery Values are assessed by the Minnesota Department of Revenue and these values are typically not available for the current assessment until mid-summer. Page 41 of 55

42 EMV, TMV & Excluded Value Growth Assessment 215 Assessment Run Date: 3/17/ Hennepin EMV $139,65,31,6 $146,974,773,9 $146,471,258,167 $14,614,997,8 $131,129,865,3 $126,775,43,8 $122,157,693,1 $123,25,336,7 $133,151,4,5 $142,25,62,8 Hennepin EMV Growth 8.8% 5.69% -.34% -4.% -6.75% -3.32% -3.64% -2.96% 8.1% 6.8% Hennepin TMV $134,556,17,85 $144,764,633,45 $145,654,119,357 $14,346,29,53 $13,869,918,78 $121,468,243,34 $116,657,32,115 $117,545,914,39 $128,21,269,563 $137,453,4,352 Henn. Diff. $ (Excl. Value) $4,59,292,795 $2,21,14,495 $817,138,81 $268,968,27 $259,946,52 $5,36,8,766 $5,5,372,985 $5,479,422,391 $4,972,472,337 $4,752,22,448 Henn. Diff. % (Excl. Value) 3.243% 1.54%.558%.191%.198% 4.186% 4.53% 4.454% 3.739% 3.342% Suburban EMV $12,37,356,1 $18,72,524,3 $18,738,193,467 $13,926,43,9 $96,553,653, $93,559,857,5 $89,995,916,4 $9,2,279,7 $97,41,19,8 $12,767,578,1 Suburban EMV Growth 9.58% 6.2%.2% -4.43% -7.9% -3.1% -3.81% -3.59% 7.58% 5.9% Suburban TMV $1,242,997,7 $17,3,146,8 $18,12,421,467 $13,761,664,7 $96,388,682,1 $89,786,843,171 $86,44,29,374 $86,25,668,288 $93,463,731,11 $99,346,822,766 Sub. Diff. $ (Excl. Value) $2,127,358,4 $1,42,377,5 $635,772, $164,739,2 $164,97,9 $3,773,14,329 $3,951,77,26 $3,949,611,412 $3,577,288,69 $3,42,755,334 Sub. Diff. % (Excl. Value) 2.78% 1.36%.585%.159%.171% 4.33% 4.391% 4.379% 3.686% 3.329% Minneapolis EMV $36,694,954,5 $38,254,249,6 $37,733,64,7 $36,688,593,9 $34,576,212,3 $33,215,186,3 $32,161,776,7 $32,825,57, $35,952,722,1 $39,438,42,7 Minneapolis EMV Growth 6.67% 4.25% -1.36% -2.77% -5.76% -3.94% -3.17% -1.17% 9.53% 9.69% Minneapolis TMV $34,313,2,15 $37,464,486,65 $37,551,697,89 $36,584,364,83 $34,481,236,68 $31,681,399,863 $3,613,11,741 $31,295,246,21 $34,557,538,453 $38,16,577,586 Mpls. Diff. $ (Excl. Value) $2,381,934,395 $789,762,995 $181,366,81 $14,229,7 $94,975,62 $1,533,786,437 $1,548,665,959 $1,529,81,979 $1,395,183,647 $1,331,465,114 Mpls. Diff. % (Excl. Value) 6.491% 2.65%.481%.284%.275% 4.618% 4.815% 4.66% 3.881% 3.376% *Note For Utility Properties (Property Type 'U' - which for this report is included with the Industrial property type category), Building and Machinery Values are assessed by the Minnesota Department of Revenue and these values are typically not available for the current assessment until mid-summer. Page 42 of 55

43 Hennepin County Excluded Market Value (i.e. LMV, HMVE, Veterans Exclusion, & TOH) Assessment 215 Assessment Run Date: 3/17/215 Hennepin County Assessed Values Billions Estimated Market Value Taxable Market Value $16 $14 $12 Assessed Value (Dollars) $1 $8 $6 $4 $2 $ Hennepin County Excluded Market Value Billions $6 $5 Excluded Market Value (Dollars) $4 $3 $2 $1 $ Hennepin EMV $139,65,31,6 $146,974,773,9 $146,471,258,167 $14,614,997,8 $131,129,865,3 $126,775,43,8 $122,157,693,1 $123,25,336,7 $132,993,741,9 $142,25,62,8 Hennepin TMV $134,556,17,85 $144,764,633,45 $145,654,119,357 $14,346,29,53 $13,869,918,78 $121,468,243,34 $116,657,32,115 $117,545,914,39 $128,21,269,563 $137,453,4,352 Henn. Diff. $ (Excl. Value) $4,59,292,795 $2,21,14,495 $817,138,81 $268,968,27 $259,946,52 $5,36,8,766 $5,5,372,985 $5,479,422,391 $4,972,472,337 $4,752,22,448 Henn. Diff. % (Excl. Value) 3.243% 1.54%.558%.191%.198% 4.186% 4.53% 4.454% 3.739% 3.342% *For Utility Properties (Property Type 'U' - which for this report is included with the Industrial property type category), Building and Machinery Values are assessed by the Minnesota Department of Revenue and these values are typically not available for the current assessment until mid-summer. Page 43 of 55

44 Estimated Market Values By Property Type 214 & 215 Assessments Billions $ Assessment 215 Assessment $125 Estimated Market Value $1 $75 $5 $25 $ Property Type Run Date: 12/3/214 Run Date: 3/17/ Assessment 215 Assessment Property Type EMV County Total EMV County Total Commercial $2,44,563,7 $21,89,93, Industrial $6,762,644,5 $6,642,92,9 Apartment $1,596,329,3 $12,731,286,2 Residential $95,5,15,1 $1,219,149, Farm $689,116,7 $67,429,2 Other $53,641,2 $52,57,5 Total $133,151,4,5 $142,25,62,8 *For Utility Properties (Property Type 'U' which for this report is included with the Industrial property type category), Building and Machinery Values are assessed by the Minnesota Department of Revenue and these values are typically not available for the current assessment until mid summer. Page 44 of 55

45 Taxable Market Values By Property Type 214 & 215 Assessments Billions $ Assessment $ Assessment $1 Taxable Market Value $8 $6 $4 $2 $ Property Type Run Date: 12/3/214 Run Date: 3/17/ Assessment 215 Assessment Property Type TMV County Total TMV County Total Commercial $2,44,563,7 $21,89,93, Industrial $6,762,644,5 $6,642,92,9 Apartment $1,591,216,269 $12,726,439,713 Residential $89,977,117,888 $95,478,646,975 Farm $681,944,61 $663,557,264 Other $53,641,2 $52,57,5 Total $128,111,127,618 $137,453,4,352 *For Utility Properties (Property Type 'U' which for this report is included with the Industrial property type category), Building and Machinery Values are assessed by the Minnesota Department of Revenue and these values are typically not available for the current assessment until mid summer. Page 45 of 55

46 Tax Capacity By Property Type 214 & 215 Assessments Millions $1,6 $1,4 $1,2 214 Assessment 215 Assessment Tax Capacity $1, $8 $6 $4 $2 $ Property Type Run Date: 12/3/214 Run Date: 3/17/ Assessment 215 Assessment Property Type TC County Total TC County Total Commercial $394,83,26 $431,76,754 Industrial $133,255,556 $13,89,685 Apartment $127,69,845 $152,964,13 Residential $927,719,653 $985,846,978 Farm $5,546,968 $5,438,285 Other $79,395 $694,985 Total $1,589,131,623 $1,77,541,7 *For Utility Properties (Property Type 'U' which for this report is included with the Industrial property type category), Building and Machinery Values are assessed by the Minnesota Department of Revenue and these values are typically not available for the current assessment until mid summer. Page 46 of 55

47 Tax Capacity Distribution 215 Assessment Run Date: 3/17/215 Tax Capacity Millions $1,8 $1,6 $1,4 $1,2 $1, $8 $6 $4 Commercial Industrial Apartment Residential Farm Other Total $2 $ County Suburban Minneapolis Groups Tax Capacity Property Type County Suburban Minneapolis Commercial $431,76,754 $285,175,41 $146,531,344 Industrial $13,89,685 $111,358,14 $19,532,671 Apartment $152,964,13 $8,952,344 $72,11,669 Residential $985,846,978 $741,53,397 $244,316,581 Farm $5,438,285 $5,42,924 $17,361 Other $694,985 $437,2 $257,983 Total $1,77,541,7 $1,224,874,91 $482,667,69 *For Utility Properties (Property Type 'U' which for this report is included with the Industrial property type category), Building and Machinery Values are assessed by the Minnesota Department of Revenue and these values are typically not available for the current assessment until mid summer. Page 47 of 55

48 Hennepin County Net Tax Percent by Property Type 215 Net Taxes Run Date: 12/3/214 1% 9% 8% Commercial 7% Industrial Net Tax Percentage 6% 5% 4% Apartment Residential Farm Other Total 3% 2% 1% 33.68% 2.28% 46.47% 27.26%.36% 36.57% 29.82% 66.32% 79.72% 53.53% 72.74% 99.64% 63.43% 7.18% % Minneapolis Property Type by Area Suburban Property Type Minneapolis Suburban Hennepin Totals Commercial $272,134, % $535,893, % $88,27,259 Industrial $55,323, % $217,486, % $272,89,94 Apartment $9,962, % $14,771, % $195,734,52 Residential $382,399, % $1,2,55, % $1,42,94,91 Farm $24,426.36% $6,76, % $6,73,456 Other $48, % $79, % $1,118,426 Total $81,252, % $1,886,72, % $2,687,324,998 *For Utility Properties (Property Type 'U' which for this report is included with the Industrial property type category), Building and Machinery Values are assessed by the Minnesota Department of Revenue and these values are typically not available for the current assessment until mid summer. Page 48 of 55

49 1 A Number of lakes Highest elevation above sea level Number of cities Total area in square miles North/south length in miles Latitude (at Minneapolis) Longitude (at Minneapolis) 14 1, ' 93-15' rs Ma h B Printed on Recycled Paper Unorganized territory Land area in square miles East/west width in miles County seat Water area in square miles Lowest elevation above sea level County established Facts about Hennepin County H Page 49 of Little Minneapolis C D E an Eastm H Lane ap le The Landing M H ve Gro P 99th Ave. N. F P P P P P Oak H So P est uthw Gr ove kwy. P Oxbow G P G LRT Creek H P nsi 6 Orchid Ave. P F ra ut The county seat is located in Minneapolis, with the Hennepin County Government Center located at 3 S. Sixth St. For more information about how to obtain further copies of this map, please visit www. hennepin.us/bikemap. kwy. y. N. Pkw Hennepin County is actively involved in providing an integrated transportation network for the region, whether it s planning light rail lines or overseeing the construction of roads and bridges, we care about helping you get where you re headed. t Upland January 213 Fran JuneauLa. Hennepin County, Minnesota E Road r kfo 1 D P Memorial H H H P P Anoka County Patrol Station Parkway H P North Mississippi Regional Park Mpls Park and Recreation Headquarters C P P H H N H I I LRT 149 S 2 inea u Transitway I6 D8 H8 F9 P H Terminal 2 Humphrey H Miles Kilometers 1 Diffley Road Terminal 1 Lindbergh Huron SEE INSET AT RIGHT Silverwood Park Park Entrance Major Park and Ride Emergency Hospital ral P Cent 1 2 rrid or 2 3 P J 12 P H Hennepin County 5 Minnesota Co 3 City Hall/County Library/County Service Center Wildlife & Recreation Area 1 est thw Sou Bott LRT C L INTERCHANGE STATION P H U.S. POST OFFICE Downtown Minneapolis Learn who serves your community: Mike Opat, 1st District Linda Higgins, 2nd District Gail Dorfman, 3rd District Peter McLaughlin, 4th District Randy Johnson, 5th District Jan Callison, 6th District Jeff Johnson, 7th District 1,163,6 ar thst MALL OF AMERICA FIELD Nor Com il Ce nt r LRT Trail Pending ral Co rrido GUTHRIE THEATER er Ra mut Pending Construction Existing Off-road Bicycle Trail Pictured right: Hennepin County Library Minneapolis Central The Hennepin County Board of Commissioners TARGET FIELD Total 371 4, ,873 5, ,45 9,84 2,486 7,438 2,43 71,263 35,376 14, ,314 5,193 2,287 45,55 7,312 1,686 1,477 3, Hennepin County Service Centers H8 F6 I7 F4 I6 H4 H U OF M RIVERSIDE Pending Construction Existing On-road Bicycle Trail H Trail Open Fall 213 Brookdale Service Center 6125 Shingle Creek Parkway, Brooklyn Center Hennepin County Government Center 3 S. 6th St., Downtown Minneapolis Maple Grove Service Center 9325 Upland Lane N, Maple Grove Midtown Exchange Service Center 2929 Chicago Ave. S., South Minneapolis Ridgedale Service Center 1261 Ridgedale Drive at Plymouth Road, Minnetonka Southdale Service Center 79 York Ave. S., Edina INT ER TCF TRA BANK STADIU St. Anthony, Pentagon Drive, Mpls St. Bonifacius, Kennedy Memorial Dr. St. Louis Park, Library Lane Sumner, Van White Mem. Blvd., Mpls Walker Closed for construction opens summer 214 Washburn, Lyndale Ave. S., Mpls Wayzata, Rice St. (City Hall) Webber Park, Webber Pkwy., Mpls Westonka, Commerce Blvd., Mound For general information call S I5 Oxboro, Portland Ave. S., A8 Penn Lake, Penn Ave. S., Bloomington Pierre Bottineau, G7 55 Broadway St. NE, Mpls H6 Plymouth, th Ave. N. Ridgedale, H Ridgedale Drive, Minnetonka Rockford Road, H nd Ave. N., Crystal Rogers, E6 213 John Milless Dr. Roosevelt I5 Closed for construction opens summer 213 C7 Southdale, York Ave. S., Edina Southeast, th St. SE, Mpls 211 Population* Medicine Lake Medina Minneapolis Minnetonka Minnetonka Beach Minnetrista Mound New Hope Orono Osseo Plymouth Richfield Robbinsdale Rockford (part) Rogers* Saint Anthony (part) Saint Bonifacius Saint Louis Park Shorewood Spring Park Tonka Bay Wayzata Woodland Municipality I6 H8 I7 D2 G5 F6 F5 I6 H9 I9 The Twins ballpark sales tax, approved in 26, funds the Hennepin Youth Sports Program and additional hours at 15 Hennepin County Library locations. Up to $4 million annually is dedicated between the programs. benefits beyond the sports field Twins Ballpark Sales Tax F6 D5 H6 F7 D5 B7 C7 G5 D7 G3 F6 H8 H5 B4 D2 I5 A8 G7 D8 C7 D8 E6 E7 Index Hosmer, E. 36th St., Mpls Linden Hills, W. 43rd St., Mpls Long Lake, Wayzata Blvd. Maple Grove, Elm Creek Blvd. Maple Plain, Main St. E. Central, Nicollet Mall, Mpls Minnetonka, Excelsior Blvd. Nokomis, th Ave. S., Mpls North Regional, Lowry Ave. N., Mpls Northeast, Central Ave. NE, Mpls Osseo, Central Ave. ** unorganized territory 83,671 3,24 76,238 23,223 5,39 22,168 4,689 3,643 61,151 48,262 2, ,427 2, ,71 3,553 1, ,436 1, Population* Municipalities Bloomington Brooklyn Center Brooklyn Park Champlin Chanhassen (part) Corcoran Crystal Dayton Deephaven Eden Prairie Edina Excelsior Fort Snelling** Golden Valley Greenfield Greenwood Hanover (part) Hopkins Independence Long Lake Loretto Maple Grove Maple Plain *Metropolitan Council H9 H4 G4 G2 E9 G2 G5 E2 E7 E9 G8 D8 I8 G6 B4 D7 C3 F7 B6 D6 C5 E3 C6 G3 I5 H5 I8 E8 I6 C6 F3 D6 H7 I7 Hennepin County Libraries Augsburg Park, Nicollet Ave., Richfield Brookdale, Shingle Creek Pkwy., Brooklyn Center Brooklyn Park, Zane Ave. N. Champlin, Ensign Ave. N. East Lake, E. Lake St., Mpls Eden Prairie, Prairie Center Drive Edina, Grandview Square Excelsior, Third St. Franklin, E. Franklin Ave., Mpls Golden Valley, Winnetka Ave. N. Hopkins, th Ave. N. Index Municipality F7 L G2 G3 I7 Regional or County Park C 1 H8 H4 G6 4 J Great River Road HCRRA Corridor Commuter Rail and Station LRT Line and Station Proposed LRT Line Proposed Highway / County Road Municipal Road County Road State or U.S. Highway State or U.S. Expressway Interstate Highway S.E. B ea Victory ttin Av e. Bo th A 15 d Pk n Huro. Blvd woo ve Mpls Park and Recreation Board Oak Dri e ng ha rc te e In Th ay tw wy. P

50 Hennepin County Fact Sheet Hennepin County - Fast Facts Hennepin County Public Affairs 9/213 Media contacts Carolyn Marinan, Public Affairs Website Fast facts» Hennepin County has 1.2 million residents approximately 22 percent of the population of Minnesota.» Approximately 44 percent of the county s budget goes for health and human services.» Approximately 41.5 percent of the county s annual budget is supported by property taxes.» Hennepin is home to one-third of the state s jobs and approximately 42, businesses. Basic stats Hennepin is the 33rd largest county in the U.S. by population. Largest of Minnesota s 87 counties in population, budget and estimated property value. 611 square miles; more than 1 lakes; 45 cities, one unorganized territory (Fort Snelling) and the Metropolitan Airport. 1.2 million residents approximately 22 percent of the population of Minnesota and 41 percent of the metropolitan population. Approximately one-third of Hennepin residents live in Minneapolis, the county seat. Median family income: $61,387 Median age: 38 Ninety-two percent of residents 25 and older are high school graduates one of the highest graduation rates in the nation. Forty-three percent have a bachelor s degree or higher. Racially and ethnically diverse approximately 4 percent of the state s non-white and foreign-born populations live in Hennepin. Home to one-third of the state s jobs; 11 Fortune 5 companies; and approximately 42, businesses, including many of Minnesota s largest employers Allina Health System, Best Buy, Cargill, Carlson Companies, General Mills, Mall of America, Medtronic, Super Valu, United Health Group, University of Minnesota, US Bank and Target Corporation Median single-family home residential market value: $215, Governance Governed by a seven-member Board of Commissioners, elected by district for staggered four-year terms. Each commissioner represents a district of more than 16, residents. The county attorney and sheriff also are elected; the county administrator is appointed by the board. Approximately 7,4 full-time employees. $1.6-billion 212 budget. About 44 percent of the budget goes for health and human services, including uncompensated care at Hennepin County Medical Center and services for vulnerable populations, including veterans, seniors and people who are disabled. Hennepin is the state s largest provider of care to indigent and vulnerable populations. Health 15.4 % General Government 2.2 % Public Works 7.7 % Libraries 4.5 % Capital Improvements 7.6 % Public Safety 16.2 % Human Services 28.4 % Expenditures Page 5 of 55 page 1 of 2

51 Hennepin County - Fast Facts Media images For high-resolution versions of these or other county images please call HCMC Emergency Medical Services Hennepin County Library - Minneapolis Central Approximately 41.5 percent of the county s annual budget is supported by property taxes. The rest comes from federal and state dollars, fees for services and licenses, and other sources. Highlights Hennepin is considered one of the nation s best-managed counties, with a triple-a credit rating from all three rating agencies. State 11.4 % Federal 1.3 % Fees & Services 7.3 % Federal & State Patient Care 12. % Other 17.5 % Revenue Property Tax 41.5 % The county has maintained this rating for more than 3 years, reflecting strong financial and operational stability. The top rating also keeps the cost of financing capital projects as low as possible a substantial savings to taxpayers. Hennepin County Medical Center, one of the nation s premier public teaching and research hospitals and a Level One Adult and Pediatric Trauma Center, is repeatedly ranked as one of America s best hospitals by U.S. News and World Report. HCMC exceeded 49, inpatient and outpatient visits in 21 and has the most active emergency department in Minnesota, with 96, emergency cases and 58, ambulance runs a year. Approximately one-third of medical residents and students in Minnesota received all or part of their medical education and training at HCMC last year. HCMC operates as a subsidiary under the auspices of the County Board, with operational governance by Hennepin Healthcare System Inc., a public corporation. Hennepin County Library is recognized as one of the top libraries in the United States. The 41-library system offers more than 5 million books, CDs, DVDs, electronic resources and other items in more than 4 languages, and has 1,695 computers available to the public. In 211 there were an estimated 5.8 million in-person visits and almost 21.4 million visits to the library website. Hennepin responds to more than 15, child abuse calls a year; collects more than $112 million a year for child support for more than 73, children; and provides social services to nearly one in four county residents. Hennepin is a nationally recognized leader in environmental protection, including a robust Green Government program that includes waste reduction, recycling, environmentally preferable purchasing, green building design and energy conservation. As a founding member of Cool Counties, Hennepin has committed to an 8-percent reduction of greenhouse gas emissions from county operations by 25. Hennepin has one of the highest recycling rates in the nation. Approximately 41 percent of county residential and commercial waste is recycled or composted, and about one-third is processed in the county s waste-to-energy facility, which processes 365, tons of waste a year. The Sheriff s Office serves all cities in the county, providing 24-hour emergency dispatch for 19 area fire departments and 23 law enforcement agencies in 36 communities. Last year dispatch processed more than 594,919 phone calls, including 228,355 emergency calls to 911. Hennepin operates the largest local corrections system in the state approximately 36,7 adult and juvenile offenders under supervision (on probation or in correctional facilities). Hennepin maintains more than 2,1 lane miles of roadways and 145 bridges. Hennepin Taxpayer Services manages six service centers (licenses, birth certificates, passports, etc.), which conducted more than 1 million transactions last year; and oversees elections for approximately 7, registered voters. Hennepin County Public Records manages a library of more than 14 million documents and 184, certificates of title, with approximately 24, documents recorded last year. Page 51 of 55 page 2 of 2