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City of Mounds View TIF Distric t No. 3 Modification 10 | P a g e <br /> <br /> <br />(AS MODIFIED MARCH 13, 1989) <br /> The impact of the use of tax dollars represented as tax increments for project costs is <br />estimated below for each taxing jurisdiction. This estimate is based on the existing <br />development proposals and does not include the possible tax increments derived from any <br />other future development, rate changes, inflation factors, or Tax Increment District Nos. 1 <br />and 2. <br /> <br />Tests: <br />The estimated impact on other taxing jurisdictions assumes construction would have <br />occurred without the creation of Tax Increment Financing District No.3. If the construction <br />is a result of tax increment financing, the impact is $0 to other entities. <br />Notwithstanding the fact that the fiscal impact on the other taxing jurisdiction is $0 due to <br />the fact that the financing would not have occurred without the assistance of the City, the <br />following estimated impact of Tax Increment Financing District No. 3 would be as follows <br />if Test No. 1 (the "but for" test) was not met. <br /> Total Tax Capacity Value <br /> Tax Increment Finance District No. 3 1/2/87 Total $9,369 <br /> <br />Latest Tax Capacity Value of Each Government Body: <br /> % of District to <br />Total <br />City of Mounds View 7,306,281 .1282 <br />County of Ramsey 404,538,860 .0023 <br />School District 73,831,323 .0127 <br /> <br />Considering the above taxing jurisdictions, it can be seen that the City, School and County <br />Districts will have over 99% of each respective district available for normal growth of tax <br />base or valuation from this tax increment district. Applying the percent age of the total tax <br />capacity rate in 1989 levied by the above taxing jurisdictions to the projected tax capacity <br />rate and the estimated tax increment received reveals the annual use of tax dollars for <br />project costs as it affects each taxing jurisdiction. Anticipating a tax increment at build out <br />as described in Appendix E, Section II, "Tax Increment Estimate," and utilizing the current <br />tax capacity rate, the estimated taxes received would be as follows for the taxing bodies: <br /> Captured Tax <br />Capacity <br />Tax Increment <br />Phase I <br />Tax Increment Finance District $295,031 $258,400 <br />