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City of Mounds View TIF District No. 1 Modification 16 | P a g e tax capacity rate and the estimated tax increment received reveals the annual use of tax dollars for project costs as it affects each taxing j urisdiction. Anticipating a tax increment at build out as described in Appendix E, Section II, “Tax Increment Estimate,” and utilizing the current tax capacity rate, the estimated taxes received would be as follows for the taxing bodies: Captured Tax Capacity Tax* Increment Tax Increment Finance District $416,450 $380,000 Based on the current tax capacity rate, the estimated taxes received would be as follows for the taxing bodies: *On high end of $330,000 to $380,000 range. Entity Tax Capacity Rate Percent Modification Tax Increment City 10.621 11.58 44,004 County 28.380 30.97 117,686 School District 46.1681 50.37 191,406 Other 6.477 7.08 26,904 TOTAL 91.6462 100.00% $380,000 1. Confirmed 4.051 tax capacity rate referendum. A tax capacity rate of 87.595 may be used to estimate tax increment, if the fiscal consultant determines the project is eligible. 2. A frozen original tax capacity rate is not applicable to pre-May 1, 1988 districts since the district was approved in February of 1988 and certified prior to May 1, 1988. 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 redevelopment project 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 tax capacity value due to development will not be available for the application of the tax capacity rate for the duration of the tax increment financing district, this new tax capacity value could eventually permit a tax capacity rate decrease. If it could be assumed that the captured tax capacity 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 tax capacity rate 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.