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Lease Revenue debt levy into a Building and Facilities Levy when those bonds are <br />satisfied. <br />Assumptions <br />The assumptions developed by Management are conservative and will continue to be <br />evaluated on an annual basis. Residential development is estimated at 160 homes per <br />year while no commercial development is estimated in the Plan. The value and timing of <br />commercial/industrial is difficult to predict and thus any additional tax capacity brought <br />by non-residential properties will further bring down the projected tax rate. <br />Additional high-level assumptions built in to the Financial Section are as follows: <br />4.00% annual tax capacity growth rate <br />o The average increase in tax capacity over the last ten years has been <br />10.00%, which includes new construction <br />$397,300 estimated market value of the average value residential home <br />o Value from Anoka County for taxes payable 2026 <br />1.00% interest earnings on ending cash balances <br />Tax Increment Financing (T.I.F) revenues for certified T.I.F districts as of <br />8/31/2025 include: <br />o T.I.F District 1-11 Legacy at Woods Edge Development <br />o T.I.F District 1-13 Lyngblomsten Senior Housing Project <br />General Fund <br />o 10.00% increase in expenditures for 2027 – to account for the full-year <br />effects of some Police and Fire personnel items planned to begin mid-year <br />of 2026. <br />o 5.00% annual increase in expenditures for years 2028 – 2030. <br />o 3.00% annual increase in non-tax revenue <br />o Balanced budget with property taxes <br />o No planned use of reserves/fund balance <br />Special Revenue Funds <br />o Rookery Activity Center <br />2023 was the first full fiscal year of operation <br />4.00% annual increase in expenditures <br />5.00% annual increase in non-tax levy revenue <br />Continuation of $600,000 operating tax levy <br />o Other special revenue funds <br />Recurring revenue and expenditures have been projected. The <br />projected cash balance can be used as a guide on how <br />unanticipated revenue and expenditures would affect the fund. <br />Debt Service Funds <br />o Current outstanding bonded indebtedness is forecasted based on debt <br />service schedules and pledged revenue outlined in the bond documents. <br />4 <br />Page 118 of 406