Laserfiche WebLink
10/29/2018Base Value Assumptions - Page 1Project Surf Redevelopment Project - New TIF DistrictCity of Little Canada, MinnesotaProposed Office/Production/Warehouse/Storage/Distribution FacilityASSUMPTIONS AND RATESDistrictType: Economic DevelopmentDistrict Name/Number: TBDCounty District #: TBDExempt Class Rate (Exempt) 0.00%First Year Construction or Inflation on Value 2019Commercial Industrial Preferred Class Rate (C/I Pref.)Existing District - Specify No. Years Remaining NAFirst $150,000 1.50%Inflation Rate - Every Year:0.00%Over $150,000 2.00%Interest Rate:5.50%Commercial Industrial Class Rate (C/I) 2.00%Present Value Date:1-Feb-20Rental Housing Class Rate (Rental) 1.25%First Period Ending 1-Aug-20Affordable Rental Housing Class Rate (Aff. Rental)Tax Year District was Certified:Pay 2019First $139,000 0.75%Cashflow Assumes First Tax Increment For Development: 2021 Over $139,000 0.25%Years of Tax Increment 9 Non-Homestead Residential (Non-H Res. 1 Unit)Assumes Last Year of Tax Increment 2029 First $500,000 1.00%Fiscal Disparities Election [Outside (A), Inside (B), or NA]Inside(B)Over $500,000 1.25%Incremental or Total Fiscal DisparitiesIncrementalHomestead Residential Class Rate (Hmstd. Res.)Fiscal Disparities Contribution Ratio 34.9213% Pay 2018 First $500,000 1.00%Fiscal Disparities Metro-Wide Tax Rate 145.0950% Pay 2018 Over $500,000 1.25%Maximum/Frozen Local Tax Rate: 125.191% Pay 2018Agricultural Non-Homestead 1.00%Current Local Tax Rate: (Use lesser of Current or Max.) 125.191%Pay 2018State-wide Tax Rate (Comm./Ind. only used for total taxes) 43.8650% Pay 2018Market Value Tax Rate (Used for total taxes) 0.21951% Pay 2018Building Total Percentage Tax Year Property Current Class AfterLand Market Market Of Value Used Original Original Tax Original After ConversionMap # PID Owner Address Market Value Value Value for District Market Value Market Value Class Tax Capacity Conversion Orig. Tax Cap.11,753,500 6,674,000 8,427,500 100% 8,427,500 Pay 2018 C/I Pref. 167,800 C/I Pref. 167,800 12999,000 0 999,000 100% 999,000 Pay 2018 C/I 19,980 C/I 19,980 22,752,500 6,674,000 9,426,5009,426,500 187,780 187,780Note:1. Base values are for taxes payable in 2018 based upon review of County website referencing Estimated Market Values on August 22, 2018.Area/ PhaseTax Rates BASE VALUE INFORMATION (Original Tax Capacity)Prepared by Ehlers & Associates, Inc. - Estimates OnlyN:\Minnsota\Little Canada\Housing - Economic - Redevelopment\TIF\TIF Districts\TIF 7-2 - 2018\TIF Plan Documents\TIF cashflow no inflation - PLAN 10.29.2018