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City of Mounds View TIF District No. 1 Modification 18 | P a g e <br /> <br /> <br />Entity Tax Capacity Rate Percent <br />Modification Tax <br />Increment <br /> <br />City 10.621 11.58 52,110 <br />County 28.380 30.97 139,365 <br />School District 46.1681 50.37 226,665 <br />Other 6.477 7.08 31,860 <br /> <br />TOTAL <br /> <br />91.6462 <br /> <br />100.00% <br /> <br />$450,000 <br /> <br />1. Confirmed 4.051 tax capacity rate referendum. A tax capacity rate of 87.595 may be <br />used to estimate tax increment, if the fiscal consultant determines the project is eligible. <br /> <br />2. A frozen original tax capacity rate is not applicable to pre-May 1, 1988 districts since <br />the district was approved in February of 1988 and certified prior to May 1, 1988. <br /> <br />* Payable 1990 not available as of 1/25/90 <br /> <br />The following table represents the additional mills that would have to be levied to <br />compensate for the loss of tax dollars in estimated tax increments for each taxing <br />jurisdiction. The tax increments derived from the redevelopment project alluded to in the <br />tax increment district would not be available to any of the taxing jurisdictions were it not <br />for public intervention by the City. Although the increases in tax capacity value due to <br />development will not be available for the application of the tax capacity rate for the <br />duration of the tax increment financing district, this new tax capacity value could <br />eventually permit a tax capacity rate decrease. If it could be assumed that the captured tax <br />capacity value was available for each taxing jurisdiction, the non-receipt of tax dollars <br />represented as tax increments may be determined. This determination is facilitated by <br />estimating how much the tax capacity rate for property outside of the tax increment <br />financing district would have to be increased to raise the same amount of tax dollars in each <br />taxing jurisdiction that would be available if the projects occurred WITHOUT THE <br />ASSISTANCE OF THE CITY. <br /> <br /> Adjusted Tax 1 <br />Capacity Value <br />Required Tax <br />Capacity Rate <br />Without F.D. <br />Contributions <br />City 7,280,127 .7157 52,110 <br />County 404,512,706 .0344 139,365 <br />School District 73,805,169 .0371 226,665 <br /> <br /> 1 Tax Increment District Tax Capacity Value Subtracted. <br /> <br />N. Modifications of the Tax Increment Financing District <br /> <br />In accordance with Minnesota Statutes, Section 273.74, Subdivision 4, any reduction or