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NNW <br />Umw <br />VMS <br />YEAR & <br />STATUTE <br />REFERENCE <br />CITY OF LINO LAKES. MINNESOTA <br />STATE LEGISLATIVE ACTION <br />Appendix A <br />Page 5 of 12 <br />INITIAL YEAR <br />ESTIMATED <br />IMPACT <br />1991 MS 273.13 #22 Approve further adjustments to the commercial <br />Subd. 32 industrial tax rate for valuations in excess of $100,000. <br />Adjusted rates effective through 1994 as follows: <br />First $100,000 of <br />market value <br />Market value over <br />$100,000 <br />1990 1991 1992 1993 1994 1995 <br />Rate Rate Rate Rate Rate Rate <br />3.30% 3.20% 3.10% 3.00% 3.00% 3.00% <br />Targeted to <br />5.06% 4.95% 4.75% 4.70% 4.60% eventually be <br />4% <br />Tax burden shifts <br />from commercial <br />industrial property. <br />Tax increment <br />districts may reflect <br />lower than <br />anticipated revenue <br />flows. <br />1991 MS <br />Section 473F.02 <br />Subd. 8 <br />#21 Prohibits municipalities from conscientiously excluding <br />most commercial - industrial development within their <br />community for reasons other than preserving agricultural use <br />through restrictive comprehensive zoning and planning <br />policies. <br />For those <br />communities deemed <br />to violate this statute, <br />they may be excluded <br />from the fiscal <br />disparities pool <br />within the seven <br />county metropolitan <br />area. The impact for <br />such excluded <br />communities would <br />likely be a significant <br />increase in their local <br />tax rates. <br />1991 <br />MS 273.13 <br />Subd. 22 <br />#20 For aid payable in 1992, HACA will increase for <br />certain cities as a result of the adjusted property class rates <br />(see #19 and #22) and the net tax capacity adjustment (see <br />#12). The net tax capacity adjustment is calculated as <br />follows: <br />(previous year total net tax capacity - current year total net tax <br />capacity) x current local tax rate. <br />State aid increase in <br />funding to cities not <br />yet available. 1992 <br />HACA increase to <br />City of Lino Lakes of <br />$64,600 or 22%. <br />The HACA increase <br />is primarily due to <br />the net tax capacity <br />adjustment. <br />Prepared by Tautges, Redpath & Co., Ltd. <br />April 30, 1992 <br />