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Council adopts 2025 tax equalization after hearing assessor's report showing 10.6% market-value gain
Summary
City assessor presented the 2025 tax equalization report showing a $41.95 million, 10.6% increase in market value driven by annexation and market adjustments; the council approved three statutory findings and adopted the assessment roll.
The Lakehead City Council voted to adopt the city's 2025 assessment roll after hearing a presentation from the assessor on April 17, 2025.
Al Biegmeyer, the city assessor, told the council the city's total true and full market value rose by $41,952,200, a 10.6% increase from the prior year. Biegmeyer attributed most of the change to annexations and market adjustments: annexation of parcels in Section 17 added $14,014,300 in value and residential structure increases from new construction and market adjustments accounted for roughly $26,427,700.
The report identified 49 residential sales from the prior year that the assessor characterized as arms-length and…
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