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4626500v1 <br /> <br /> <br /> A-2 <br />EXHIBIT B <br /> <br />The payment amount due under this Agreement shall be calculated as follows: <br /> <br />1. The estimated market value of the property shall be multiplied by the commercial <br />property class rates to yield the tax capacity. In determine the estimated market value of <br />the property all land and building shall be included. In addition, no exemptions of any <br />nature, including to but not limited to the exemptions for school buildings, shall be <br />allowed. The estimated market value shall be that determine by the Ramsey County <br />Assessor on January 2nd of the proceeding calendar year. In the event the Ramsey <br />County Assessor has not determined the market value of the property, then the City <br />Assessor shall determine that value and the value determined by the City Assessor shall <br />control. <br /> <br />2. The tax capacity shall be multiplied by the City’s tax rate effective for that calendar year <br />in which the payment is to be made. <br />