2012 Planning Commission Packets

Home Browse Search

*Tax htcrement District assessed valuation subtracted. (AS MODIFIED JUNE 12, 1989) The impact of the use of tax dollars represented as tax increments for project costs is estimated below for each taxing jurisdiction. This estimate is based on the existing development proposals and does not include the possible tax increments derived from any other future development, rate changes, inflation factors, or other Tax Increment Districts. Tests: The estimated impact on other taxing jurisdictions assumes construction would have occurred without the modification of the Tax Increment Financing District. If the construction is a result of tax increment financing, the impact is $0 to other entities. Notwithstanding the fact that the fiscal impact on the other taxing jurisdiction is $0 due to the fact that the financing would not have occurred without the assistance of the City, the following estimated impact of Tax Increment Financing District Modification No. 1 would be as follows if Test No. 1 (the "but for" test) was not met. Tax Capacity Value Tax Increment Finance 1/2/87 Total District Modification No. I Latest Tax Canacitv Value of Each Government Bod $26,154 Adjusted* Assessed Required Mills Tax Increment County of Ramsey Value School District 73,831,323 .0354 City of Mounds $66,013,103 2.211 145,932 View County of 3,289,601,903 0.102 335,142 Ramsey School District 554,914,979 0.892 495,019 #621 Spec. Ind. 1,507,060,739 0.008 12,200 School Dist. #916 Other 3,289,601,903 0.020 64,227 *Tax htcrement District assessed valuation subtracted. (AS MODIFIED JUNE 12, 1989) The impact of the use of tax dollars represented as tax increments for project costs is estimated below for each taxing jurisdiction. This estimate is based on the existing development proposals and does not include the possible tax increments derived from any other future development, rate changes, inflation factors, or other Tax Increment Districts. Tests: The estimated impact on other taxing jurisdictions assumes construction would have occurred without the modification of the Tax Increment Financing District. If the construction is a result of tax increment financing, the impact is $0 to other entities. Notwithstanding the fact that the fiscal impact on the other taxing jurisdiction is $0 due to the fact that the financing would not have occurred without the assistance of the City, the following estimated impact of Tax Increment Financing District Modification No. 1 would be as follows if Test No. 1 (the "but for" test) was not met. Tax Capacity Value Tax Increment Finance 1/2/87 Total District Modification No. I Latest Tax Canacitv Value of Each Government Bod $26,154 Considering the above taxing jurisdictions, it can be seen that the City, School and County Districts will have over 96% of each respective district available for normal growth of tax base or valuation from this tax increment district modification. Applying the percentage of the total tax capacity rate in 1989 levied by the above taxing jurisdictions to the projected City of Mounds View TIF District No. I Modification 15 111 a g e % of District to Total City of Mounds View 7,306,281 .3579 County of Ramsey 404,538,860 .0065 School District 73,831,323 .0354 Considering the above taxing jurisdictions, it can be seen that the City, School and County Districts will have over 96% of each respective district available for normal growth of tax base or valuation from this tax increment district modification. Applying the percentage of the total tax capacity rate in 1989 levied by the above taxing jurisdictions to the projected City of Mounds View TIF District No. I Modification 15 111 a g e