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City of Lino Lakes and Lino Lakes Economic Development Authority <br />determining local tax rates for the current and subsequent levy years. Requests received <br />on or after July 1 shall be used to determine local tax rates in subsequent years. <br />(3) each year the County Auditor shall certify the amount of the original net tax capacity of <br />the TIF District. The amount certified shall reflect any changes that occur as a result of <br />the following: <br />(a) the value of property that changes from tax-exempt to taxable shall be added to <br />the original net tax capacity of the TIF District. The reverse shall also apply; <br />(b) the original net tax capacity may be modified by any approved enlargement or <br />reduction of the TIF District; <br />(c) if laws governing the classification of real property cause changes to the <br />percentage of estimated market value to be applied for property tax purposes, <br />then the resulting increase or decrease in net tax capacity shall be applied <br />proportionately to the original net tax capacity and the retained captured net tax <br />capacity of the TIF District. <br />The County Auditor shall notify the City of all changes made to the original net tax capacity of the TIF <br />District. <br />Section AB Filing TIF Plan, Financial Reporting and Disclosure Requirements <br />The City will file the TIF Plan, and any subsequent amendments thereto, with the Commissioner of <br />Revenue and the Office of the State Auditor pursuant to Minnesota Statutes, Section 469.175, subdivision <br />4A. The City will comply with all reporting requirements for the TIF District under Minnesota Statutes, <br />Section 469.175, subdivisions 5 and 6. <br />Draft <br />Baker Tilly Municipal Advisors, LLC Page 14 <br />