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07/02/2019 EDAC Packet
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07/02/2019 EDAC Packet
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EDAC
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EDAC Packet
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07/02/2019
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Exhibit IV <br />Estimated Impact on Other Taxing Jurisdictions Report <br />City of Lino Lakes, Minnesota <br />Tax Increment Financing (Housing) District No. 1-13 <br />Lyngblomsten Site: Senior Care Campus <br />Draft TIF Plan Exhibits: Updated Revenue Projections with $28,991,000 new value <br />Without <br />Project or TIF District With Project and TIF District <br />Final Projected <br />Hypothetical <br />2018/2019 2018/2019 Retained New Hypothetical Hypothetical <br />Tax Generated <br />Taxable 2018/2019 Taxable Captured Taxable Adjusted Decrease In <br />by Retained <br />Taxing <br />Net Tax Local Net Tax Net Tax Net Tax Local Local <br />Captured <br />Jurisdiction <br />Capacity (1) Tax Rate Capacity (1) + Capacity = Capacity Tax Rate (*) Tax Rate (*) <br />N.T.C. (*) <br />City of Lino Lakes <br />20,757,860 41.817% 20,757,860 $351,033 21,108,893 41.122% 0.695% <br />144,350 <br />Anoka County <br />335,542,347 34.473% 335,542,347 351,033 335,893,380 34.437% 0.036% <br />120,885 <br />Centennial SD #12 <br />33,044,600 35.984% 33,044,600 351,033 33,395,633 35.606% 0.378% <br />124,988 <br />Other <br />- 5.300% - - - 5.300% - <br />- <br />Totals <br />117.574% 116.464% 1.110% <br />* Statement 1: <br />If the projected Retained Captured Net Tax Capacity of the TIF District was hypothetically available to each of <br />the taxing jurisdictions above, the result would be a lower local tax rate (see Hypothetical Adjusted Tax Rate above) <br />which would produce the same amount of taxes for each taxing jurisdiction. In such a case, the total local tax rate <br />would decrease by 1.110% (see Hypothetical Decrease in Local Tax Rate above). The hypothetical tax that the <br />Retained Captured Net Tax Capacity of the TIF District would generate is also shown above. <br />Statement 2: Since the projected Retained Captured Net Tax Capacity of the TIF District is not available to the taxing jurisdictions, <br />then there is no impact on taxes levied or local tax rates. <br />(1) Taxable net tax capacity = total net tax capacity - captured TIF - fiscal disparity contribution, if applicable. <br />(2) The impact on these taxing jurisdictions is negligible since they represent only 4.51 % of the total tax rate. <br />BAKER TILLY Page 15 <br />
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