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City of Lino Lakes, MN <br />Proposed Country Inn and Suites Conversion - TIF #1 -11 <br />September 8, 2009 <br />Page 2 <br />We have calculated the estimated change to the property tax increment for TIF District #1 -11 based on the proposed <br />conversion. Our assumptions are as follows: <br />✓ Pay 2010 proposed market values for all TIF properties (excluding hotel) <br />✓ Pay 2010 proposed market value for hotel ($3,750,000) <br />✓ Assessor's estimated market value for proposed assisted living facility detailed above <br />✓ Frozen tax rate of 87.567% <br />✓ State auditor deduction of 0.36% <br />✓ Fiscal Disparity Ratio of 34.1664% (pay 2009) <br />✓ Estimated property tax increment received with continued delinquencies assumes only the hotel (or assisted <br />living facility), apartments and apartment retail pay their tax bill, and all others continue to be delinquent <br />A summary table follows comparing the existing hotel to the proposed assisted living facility: <br />Parcel Information ( #17- 31 -22 -12 -0061) <br />1) Current <br />Hotel Use <br />Proposed Assisted Living Facility <br />2A) Low Value <br />2B) High Value <br />A. <br />Base Market Value <br />$122,900 <br />$122,900 <br />$122,900 <br />B. <br />Base Tax Capacity <br />$1,844 <br />$1,413 <br />$1,413 <br />C. <br />Est. Taxable Market Value <br />$3,750,000 <br />$3,500,000 <br />$4,200,000 <br />D. <br />Est. Tax Capacity <br />$74,250 <br />$40,250 <br />$48,300 <br />E. <br />Est. Fiscal Disparity Reduction <br />$25,369 <br />$0 <br />$0 <br />F <br />Est. Net Captured Tax Capacity <br />(D - B - E) <br />$47,037 <br />$38,837 <br />$46,887 <br />TIF District #1 -11 Information <br />1) Current <br />Hotel Use <br />Proposed Assisted Living Facility <br />2A) Low Value <br />2B) High Value <br />G. <br />Base Tax Capacity <br />$20,613 <br />$20,182 <br />$20,182 <br />H. <br />Est. Fiscal Disparity Reduction <br />$63,295 <br />$37,927 <br />$37,927 <br />I. <br />Est. Tax Capacity <br />$252,854 <br />$218,854 <br />$226,904 <br />J <br />Est. Net Captured Tax Capacity <br />(I - G - H) <br />$168,946 <br />$160,745 <br />$168,795 <br />K. <br />TIF District Sharing Factor (J / I) <br />66.8155% <br />73.4485% <br />74.3904% <br />L. <br />Est. Property Tax Increment (100 %) <br />$147,408 <br />$140,253 <br />$147,276 <br />Ni. <br />Property Tax Increment Loss <br />L1 - L2A & L1 - L2B <br />NA <br />$7,155 <br />$132 <br />N <br />Est. Property Tax Increment Received <br />(with continued delinquencies) <br />$96,778 <br />$84,596 <br />$90,906 <br />0. <br />Real Property Tax Increment Loss <br />(delinquencies continue) <br />N1 - N2A & N1 - N2B <br />NA <br />$12,182 <br />$5,872 <br />