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11/15/2021 <br />TIF District No. 7 (Villas of Mounds View) - 3% Inflation <br />City of Mounds View, MN <br />120 Senior Apartments <br />ASSUMPTIONS AND RATES <br />DistrictType:Housing <br />District Name/Number: <br />County District #:Exempt Class Rate (Exempt)0.00% <br />First Year Construction or Inflation on Value 2022 Commercial Industrial Preferred Class Rate (C/I Pref.) <br />Existing District - Specify No. Years Remaining First $150,000 1.50% <br />Inflation Rate - Every Year:3.00%Over $150,000 2.00% <br />Interest Rate:2.00%Commercial Industrial Class Rate (C/I)2.00% <br />Present Value Date:1-Aug-23 Rental Housing Class Rate (Rental)1.25% <br />First Period Ending 1-Feb-24 Affordable Rental Housing Class Rate (Aff. Rental) <br />Tax Year District was Certified:Pay 2022 First $100,000 0.75% <br />Cashflow Assumes First Tax Increment For Development:2024 Over $100,000 0.25% <br />Years of Tax Increment 26 Non-Homestead Residential (Non-H Res. 1 Unit) <br />Assumes Last Year of Tax Increment 2049 First $500,000 1.00% <br />Fiscal Disparities Election [Outside (A), Inside (B), or NA]Inside(B)Over $500,000 1.25% <br />Incremental or Total Fiscal Disparities Incremental Homestead Residential Class Rate (Hmstd. Res.) <br />Fiscal Disparities Contribution Ratio 36.5061%Pay 2021 First $500,000 1.00% <br />Fiscal Disparities Metro-Wide Tax Rate 139.5040%Pay 2021 Over $500,000 1.25% <br />Maximum/Frozen Local Tax Rate: 115.0147%Pay 2021 Agricultural Non-Homestead 1.00% <br />Current Local Tax Rate: (Use lesser of Current or Max.)115.0147%Pay 2021 <br />State-wide Tax Rate (Comm./Ind. only used for total taxes)35.9780%Pay 2021 <br />Market Value Tax Rate (Used for total taxes)0.27744%Pay 2021 <br />Building Total Percentage Tax Year Property Current Class After <br />Land Market Market Of Value Used Original Original Tax Original After Conversion <br />Map ID PID Owner Address Market Value Value Value for District Market Value Market Value Class Tax Capacity Conversion Orig. Tax Cap. <br />173023140001 Mounds View EDA 4889 Old Hwy. 8 104,500 1,000 105,500 100%105,500 Pay 2022 Exempt - Aff. Rental 791 1 <br />173023140002 Mounds View EDA 4889 Old Hwy. 8 324,500 0 324,500 100%324,500 Pay 2022 Exempt - Aff. Rental 2,434 <br />173023140003 Mounds View EDA 4889 Old Hwy. 8 162,900 1,000 163,900 100%163,900 Pay 2022 Exempt - Aff. Rental 1,229 <br />173023110004 City of Mounds View 4943 Old Hwy. 8 105,900 0 105,900 100%105,900 Pay 2022 Exempt - Aff. Rental 794 <br />697,800 2,000 699,800 699,800 0 5,249 <br />Note: <br />1. Base values are for pay 2022 based upon review of County website on 10-5-2021. <br />2. Located in SD # 621 and Rice Creek W/S <br />Area/ <br />Phase <br />Tax Rates <br /> BASE VALUE INFORMATION (Original Tax Capacity) <br />Prepared by Ehlers