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2
<br />a
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<br />Recommended Funding Sources
<br />28
<br />and the storm water utility reduce the required property tax levy. The bonds are
<br />projected to have a term of 15 years so the corresponding debt service payments
<br />would affect the City's tax rate through 2029. Additional tax rate impacts after
<br />2014 would depend on how the City decided to fund the PMR in subsequent
<br />years. The projected tax levies and tax rates are shown in the table below and
<br />the graph that follows.
<br />Year
<br />Total
<br />Levy
<br />Projected
<br />Tax Capacity
<br />(5% Growth)
<br />Tax Rate
<br />Impact
<br />Projected
<br />Tax Capacity
<br />(7.5% Growth)
<br />Tax Rate
<br />Impact
<br />Projected
<br />Tax Capacity
<br />(10% Growth)
<br />Tax Rate
<br />Impact
<br />2005
<br />236.538
<br />15,468.021
<br />1.529%
<br />15,468,021
<br />1.529%
<br />15.468.021
<br />1.529%
<br />2006
<br />347,500
<br />16,241,422
<br />2.140%
<br />16,628,123
<br />2.090%
<br />17.014,823
<br />2.042%
<br />2007
<br />444.200
<br />17,053,493
<br />2.605%
<br />17.875,232
<br />2.485%
<br />18,716.305
<br />2.373%
<br />2008
<br />613,920
<br />17,906,168
<br />3.429%
<br />19.215.874
<br />3.195%
<br />20,587.936
<br />2.982%
<br />2009
<br />797.105
<br />18.801,476
<br />4.240%
<br />20,657,065
<br />3.859%
<br />22,646,730
<br />3.520%
<br />2010
<br />1.008,105
<br />19,741,550
<br />5.107%
<br />22.206,345
<br />4.540%
<br />24,911,403
<br />4.047%
<br />2011
<br />1.117,890
<br />20,728.628
<br />5.393%
<br />23,871,820
<br />4.683%
<br />27,402,543
<br />4.080%
<br />2012
<br />1,231.090
<br />21.765,059
<br />5.656%
<br />25,662,207
<br />4.797%
<br />30.142,797
<br />4.084%
<br />2013
<br />1,348,605
<br />22,853.312
<br />5.901%
<br />27,586.872
<br />4.889%
<br />33.157,077
<br />4.067%
<br />2014
<br />1,473,290
<br />23,995,977
<br />6.140%
<br />29.655.888
<br />4.968%
<br />36,472,784
<br />4.039%
<br />City of Lino Lakes, Minnesota
<br />PMP Financing Plan - Projected Tax Rate Impacts
<br />7.000%
<br />6.000%
<br />5.000%
<br />4.000%
<br />3.000%
<br />2.000%
<br />1.000%
<br />0.000%
<br />-/"."-----.."'
<br />2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
<br />-6- Projected Tax Rate Impact (5% Growth) -1E- Projected Tax Rate Impact (7.5% -iLw-- Tax Rate Impact (10% Growth)
<br />Springsted
<br />The projected property tax impacts resulting from the recommended funding
<br />plan on a residential home in the City valued at $228,400 are shown in the
<br />following table and graph. The 2005 projected property tax impacts represents
<br />the City's actual 2005 levy for street maintenance. The 2006 projected property
<br />tax impacts reflect only maintenance costs for seal coating and overlaying from
<br />the PMR. The projected property tax impacts for 2007 through 2014 reflect
<br />both maintenance costs for seal coating and overlays and debt service on the
<br />- 1 9 7 -
<br />City of Lino Lakes - Pavement Management Plan Financing Report
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