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City of Lino Lakes, Minnesota • Section 0 Original Tax Capacity Rate • The County Auditor shall also certify the original tax capacity rate of the TIF District. This rate shall be the sum of all local tax rates that apply to property in the TIF District. This rate shall be for the same taxes payable year as the original net tax capacity. In future years, the amount of tax increment generated by the TIF District will be calculated using the lesser of (a) the sum of the current local tax rates at that time or (b) the original tax capacity rate of the TIF District. At the time this document was prepared, the sum of all local tax r that apply to property in the TIF District, for taxes levied in 2003 and payable in 2004, wa •t yet available. When this total becomes available, the County Auditor shall certify this a � as the original tax capacity rate of the TIF District. For purposes of estimating the tad ent generated by the TIF District, the sum of the local tax rates for taxes levied in 200 -and pa ate in 2003, is 129.834% as shown below. Taxing Jurisdiction 2002/2003 Local Tax Rate City of Lino Lakes 47.603% Anoka County 37.714% ISD No. 12 X: 37.467% Other 7.050% Total 9.834% Section P Projecte Projec Each year the Coun TIF District. To the shall be kn For co ands the a exclude capacity ax Capacity and editor s "inities affect pter 276A, the cart rs tion of fiscal $ +roduct of any wa-rtified) times it ire tha et tax cap rrent net tax capacity of all property in the e original net tax capacity, the difference the TIF District. by the fiscal disparity provisions of Minnesota Statutes, Chapter 473F inal net x capacity of the TIF District shall be determined before arity. > subsequent years, the current net tax capacity shall al disparity increase in the TIF District (since the original net tax e appropriate fiscal disparity ratio. The County Au d i+ haltfy to the Authority the amount of captured net tax capacity each year The Author ose to retain any or all of this amount. It is the Authority's intention to retain 100% of th itured net tax capacity of the TIF District. Such amount shall be known as the retained captured net tax capacity of the TIF District. Exhibit II gives a listing of the various information and assumptions used in preparing a number of the exhibits contained in this TIF Plan, including Exhibit III which shows the projected tax increment generated over the anticipated life of the TIF District. Section Q Use of Tax Increment Each year the County Treasurer shall deduct 0.36% of the annual tax increment generated by • the TIF District and pay such amount to the State's General Fund. Such amounts will be SPRINGSTED Page 7