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City of Mounds View TIF District No. 1 Modification 17 | P a g e <br /> <br /> <br />(AS MODIFIED MARCH 26, 1990) <br /> <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 other Tax Increment Districts. <br /> <br /> Tests: <br /> <br />The estimated impact on other taxing jurisdictions assumes construction would have <br />occurred without the modification of the Tax Increment Financing District. If the <br />construction is a result of tax increment financing, the impact is $0 to other entities. <br /> <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 Modification No. 2 would <br />be as follows if Test No. 1 (the “but for” test) was not met. <br /> <br /> Tax Capacity Value <br /> <br />Tax Increment Finance <br />District Modification No. 2 <br /> <br />1/2/89 Total $21,322 <br />Latest Tax Capacity Value of Each Government Body: <br /> <br /> % of District to Total <br />City of Mounds View 7,306,281 .2918 <br />County of Ramsey 404,538,860 .0052 <br />School District 73,831,323 .0288 <br /> <br />Considering the above taxing jurisdictions, it can be seen that the City, School and County <br />Districts will have over 96% of each respective district available for normal growth of tax <br />base or valuation from this tax increment district modification. Applying the percentage of <br />the total tax capacity rate in 1989 levied by the above taxing jurisdictions to the projected <br />tax capacity rate and the estimated tax increment received reveals the annual use of tax <br />dollars for project costs as it affects each taxing jurisdiction. Anticipating a tax increment at <br />build out as described in Appendix E, Section II, “Tax Increment Estimate,” and utilizing <br />the current tax capacity rate, the estimated taxes received would be as follows for the taxing <br />bodies: <br /> <br /> Captured Tax Capacity <br /> <br />Tax* Increment <br />Tax Increment Finance <br />District <br />$487,478 $450,000 <br /> <br /> <br />Based on the current tax capacity rate, the estimated taxes received would be as follows for <br />the taxing bodies: