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City of Mounds View TIF Distric t No. 3 Modification 9 | P a g e districts will have over 99% of each respective district available for normal growth of tax base or valuation. Applying the percentage of the total mill rate estimate in 1988 levied by each taxing jurisdiction to the project3ed mill rate and the estimated tax increment received reveals the annual loss of tax dollars by each taxing jurisdiction as listed in the table below ASSUMING DEVELOPMENT WOULD OCCUR WITHOUT PUBLIC ASSISTANCE. The finance plan indicates an anticipated tax increment at build out as follows: Captured Assessed Valuation Tax Increment Received Tax Increment Finance District #3 $5,068,376 $593,000 Based on an estimated mill rate, the estimated taxes received would be as follows for the taxing bodies: Mills Percent Tax Increment City 16.742 14.3 84,799 County 33.730 28.8 170,784 School District 59.076 50.5 299,465 Other 7.378 6.4 37,952 Total 116.926 100.00 593,000 The following table represents the additional mills that would have to be levied to compensate for the loss of tax dollars in estimated tax increments for each taxing jurisdiction. The tax increments derived from the development alluded to in the tax increment district would not be available to any of the taxing jurisdictions were it not for public intervention by the City. Although the increases in assessed value due to development will not be available for the application of the mill levy for the duration of the tax increment financing district, this new assessed value could eventually permit a mill levy decrease. If it could be assumed that the captured assessed value was available for each taxing jurisdiction, the non-receipt of tax dollars represented as tax increments may be determined. This determination is facilitated by estimating how much the mill levy for property outside of the tax increment financing district would have to be increased to raise the same amount of tax dollars in each taxing jurisdiction that would be available if the projects occurred WITHOUT THE ASSISTANCE OF THE CITY. Adjusted* Assessed Value Required Mills Without F.D. Contribution School District $604,464,784 .495 299,465 County $3,315,182,299 .052 170,784 City $59,177,551 1.432 84,799 *Tax Increment District assessed valuation subtracted.