Tax comps
SampleWhat comparable new buildings pay in property tax per unit, beside the pro forma's tax line.
Sample tax figures; not county records.
- Subject tax per unit · untrended
- $1,930
- Within range
- Comp median per unit
- $2,470
- $1,780 to $3,120
- Subject against median
- 78%
- 7 of 8 pay more per unit
- Comparable buildings
- 8
- Sample rows, tracked comp names
Where the pro forma tax sits among the comps
Tax per unit per year, lowest to highest. The subject is the pro forma, untrended.
Property tax per unit · annual
$2,470
- Tax per unit
| Building | Tax per unit |
|---|---|
| The Shoreham | $1,780 |
| Subject, pro forma | $1,930 |
| The Flats at West End | $2,050 |
| The Quentin | $2,260 |
| Arlo West End | $2,410 |
| Millennium at West End | $2,530 |
| Parkway 25 | $2,690 |
| Central Park West | $2,880 |
| Caraway West End | $3,120 |
Every building
Open a row for the assessment and the record slots.
- Subject, pro forma$1,930200 units, $386,000 a year, untrended, 78% of medianWithin range
- Millennium at West End Sample$2,530Built 2016, 330 units, $834,900 a year, 131% of subject
- Central Park West Sample$2,880Built 2021, 380 units, $1,094,400 a year, 149% of subject
- The Shoreham Sample$1,780Built 2015, 210 units, $373,800 a year, 92% of subject
- The Flats at West End Sample$2,050Built 2017, 150 units, $307,500 a year, 106% of subject
- Caraway West End Sample$3,120Built 2023, 220 units, $686,400 a year, 162% of subject
- Arlo West End Sample$2,410Built 2020, 190 units, $457,900 a year, 125% of subject
- The Quentin Sample$2,260Built 2018, 160 units, $361,600 a year, 117% of subject
- Parkway 25 Sample$2,690Built 2019, 240 units, $645,600 a year, 139% of subject
| Building | Tax per unit | Built | Units | Assessed value | Annual tax | Of subject | Position | Details |
|---|---|---|---|---|---|---|---|---|
| Subject, pro forma | $1,930 | Proposed | 200 | Not assessed | $386,000 | 100% | Within range | |
| Millennium at West End Sample | $2,530 | 2016 | 330 | $69,600,000 | $834,900 | 131% | ||
| Central Park West Sample | $2,880 | 2021 | 380 | $88,400,000 | $1,094,400 | 149% | ||
| The Shoreham Sample | $1,780 | 2015 | 210 | $31,500,000 | $373,800 | 92% | ||
| The Flats at West End Sample | $2,050 | 2017 | 150 | $25,800,000 | $307,500 | 106% | ||
| Caraway West End Sample | $3,120 | 2023 | 220 | $56,900,000 | $686,400 | 162% | ||
| Arlo West End Sample | $2,410 | 2020 | 190 | $37,700,000 | $457,900 | 125% | ||
| The Quentin Sample | $2,260 | 2018 | 160 | $30,100,000 | $361,600 | 117% | ||
| Parkway 25 Sample | $2,690 | 2019 | 240 | $53,400,000 | $645,600 | 139% |
Subject, pro forma
- Units
- 200
- Annual tax, untrended
- $386,000
- Tax per unit, untrended
- $1,930
- Annual tax, year 4 (first stabilized)
- $408,000
- Tax per unit, year 4
- $2,040
- Comp median per unit
- $2,470
- Comp range per unit
- $1,780 to $3,120
- Position
- Within range
From the pro forma, not a bill. The sponsor owns the projection.
Millennium at West End
Sample
- Year built
- 2016
- Units
- 330
- Assessed value
- $69,600,000
- Annual tax
- $834,900
- Tax per unit
- $2,530
- Effective rate
- 1.20%
- Against the subject's pro forma
- 131%
Source
Sample row. These slots fill when the real record is attached.
- Source
- [HENNEPIN COUNTY PROPERTY RECORD]
- Parcel
- [PID]
- Payable year
- [PAYABLE YEAR]
- Tracked comp
- millennium-west-end
Central Park West
Sample
- Year built
- 2021
- Units
- 380
- Assessed value
- $88,400,000
- Annual tax
- $1,094,400
- Tax per unit
- $2,880
- Effective rate
- 1.24%
- Against the subject's pro forma
- 149%
Source
Sample row. These slots fill when the real record is attached.
- Source
- [HENNEPIN COUNTY PROPERTY RECORD]
- Parcel
- [PID]
- Payable year
- [PAYABLE YEAR]
- Tracked comp
- central-park-west
The Shoreham
Sample
- Year built
- 2015
- Units
- 210
- Assessed value
- $31,500,000
- Annual tax
- $373,800
- Tax per unit
- $1,780
- Effective rate
- 1.19%
- Against the subject's pro forma
- 92%
Source
Sample row. These slots fill when the real record is attached.
- Source
- [HENNEPIN COUNTY PROPERTY RECORD]
- Parcel
- [PID]
- Payable year
- [PAYABLE YEAR]
- Tracked comp
- shoreham
The Flats at West End
Sample
- Year built
- 2017
- Units
- 150
- Assessed value
- $25,800,000
- Annual tax
- $307,500
- Tax per unit
- $2,050
- Effective rate
- 1.19%
- Against the subject's pro forma
- 106%
Source
Sample row. These slots fill when the real record is attached.
- Source
- [HENNEPIN COUNTY PROPERTY RECORD]
- Parcel
- [PID]
- Payable year
- [PAYABLE YEAR]
- Tracked comp
- flats-west-end
Caraway West End
Sample
- Year built
- 2023
- Units
- 220
- Assessed value
- $56,900,000
- Annual tax
- $686,400
- Tax per unit
- $3,120
- Effective rate
- 1.21%
- Against the subject's pro forma
- 162%
Source
Sample row. These slots fill when the real record is attached.
- Source
- [HENNEPIN COUNTY PROPERTY RECORD]
- Parcel
- [PID]
- Payable year
- [PAYABLE YEAR]
- Tracked comp
- caraway-west-end
Arlo West End
Sample
- Year built
- 2020
- Units
- 190
- Assessed value
- $37,700,000
- Annual tax
- $457,900
- Tax per unit
- $2,410
- Effective rate
- 1.21%
- Against the subject's pro forma
- 125%
Source
Sample row. These slots fill when the real record is attached.
- Source
- [HENNEPIN COUNTY PROPERTY RECORD]
- Parcel
- [PID]
- Payable year
- [PAYABLE YEAR]
- Tracked comp
- arlo-west-end
The Quentin
Sample
- Year built
- 2018
- Units
- 160
- Assessed value
- $30,100,000
- Annual tax
- $361,600
- Tax per unit
- $2,260
- Effective rate
- 1.20%
- Against the subject's pro forma
- 117%
Source
Sample row. These slots fill when the real record is attached.
- Source
- [HENNEPIN COUNTY PROPERTY RECORD]
- Parcel
- [PID]
- Payable year
- [PAYABLE YEAR]
- Tracked comp
- quentin
Parkway 25
Sample
- Year built
- 2019
- Units
- 240
- Assessed value
- $53,400,000
- Annual tax
- $645,600
- Tax per unit
- $2,690
- Effective rate
- 1.21%
- Against the subject's pro forma
- 139%
Source
Sample row. These slots fill when the real record is attached.
- Source
- [HENNEPIN COUNTY PROPERTY RECORD]
- Parcel
- [PID]
- Payable year
- [PAYABLE YEAR]
- Tracked comp
- parkway-25
Method and sources basis, derivation, what replaces the samples
Tax per unit is each building's total annual property tax over its units. Effective rate is the tax over the assessed value. The median of 8 buildings is $2,470; the median effective rate is 1.20%.
The subject reads the pro forma's untrended tax line ($386,000, $1,930 per unit), the basis a current bill compares to. Its first stabilized year carries $2,040 per unit.
Within the comp range reads within range; under the lowest comp reads below comps (aggressive); over the highest reads above comps (conservative). 7 of 8 pay more per unit.
Building names are from the tracked comp set. Every year built, unit count, assessed value and tax figure is a sample until the county property record for each parcel is attached.