08-24-1988 Council Agenda - Laserfiche WebLink

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Resolution Board of Jeamseyr. Go un y Commissioners Presented By commissioner Schaber Date September 13, 1982 No. 82 -734 Attention: Budget & Accounting; L. McKenna, Property Tax; All Municipality Clerks, Ramsey County; WHEREAS, Tax increment financing districts are being created in Ramsey County in increasing numbers and for significant amounts, and WHEREAS, The lack of availability of alternative financing methods suggests that reliance on tax increment financing will continue to increase in the future, and WHEREAS, Tax increment financing adversely affects the County's tax base and artificially increases the County's property tax mill rate, and WHEREAS, The County has no statutory authority to limit the use of tax increment financing, and WHEREAS, The County feels that it is necessary to express its concern to all municipalities in Ramsey County about the use of tax increment financing; Now, Therefore Be It RESOLVED, That the Board of Ramsey County Commissioners hereby adopts the following policy statement which shall be the official County comment for all tax increment projects proposed in Ramsey County: The rapid growth in the creation of tax increment financing districts is of increasing concern to Ramsey County. It should be noted that all increases in assessed valuation over the base year would be captured, whether or not they are generated by economic development activity carried on by the authority. The County's tax base is affected adversely at a time when there is additional reliance on ad valorem property taxes because of the reduction in state and federal aids. Also, Ramsey County finds it objectionable, that under present statutes, provision is made for comment only, rather than statutory power for counties to limit or control the use of tax increment financing. Ramsey County recognizes that tax increment financing is one of the tools available to encourage development or redevelop- ment within a municipality. However, cautious and judicious use of the tax increment financing vehicle is necessary to insure that it is not abused. The County would like to see all municipalities who use tax increment financing develop a strategy which encourages development while protecting the municipality and its taxpayers from unnecessary expense by Page 69 - continued- ROBERT J. ORTH, Ch zL'unan By rh,n! PPn,.h _ rnno*.r Rnnhr{