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Lake Elmo Assessment News

Lake Elmo Assessment News

If you’re a resident of Lake Elmo, you are well aware of the improvements ongoing in the area. Visit the City Of Lake Elmo website for more information.

In a nutshell, the City of Lake Elmo is extending sanitary sewer to serve the existing properties in the Old Village area to replace the use of private on-site sewage treatment systems. As part of the project the City will be replacing the aged watermain pipes and reconstructing the public streets that are disturbed during the work. The Improvements will be constructed in phases and through separate projects with the initial project being constructed during the summer and fall of 2015. Visit the City Of Lake Elmo website for more information.

As you know much of the finances for these improvements are being paid through special assessments on local homeowners and businesses. Adding it all up, the typical residential property can expect an “all in” cost of $23,650 to $29,750. For this cost the property receives City sewer, including City and Met Council connection costs, a new watermain (not assessed), an improved Village drainage system, and a new street. The only additional cost is for each property to retain a contractor to connect your private sewer service to your home. A typical cost for this connection for a residential property is $2,000 to $5,000.

If you’re a homeowner, contact Granite Mortgage first. We may be able to help you find the best way to pay your assessment and reduce your mortgage expense at the same time! Contact us today at 651-459-6000 or drop us a line.