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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 />Estimated Taxable Total Taxable Property Percentage Percentage Percentage Percentage First Year <br />Market Value Market Value Total Market Tax Project Project Tax Completed Completed Completed Completed Full Taxes <br />Area/Phase New Use Per Sq. Ft./Unit Per Sq. Ft./Unit Sq. Ft./Units Value Class Tax Capacity Capacity/Unit 2022 2023 2024 2025 Payable <br />1 Apartments 205,000 205,000 120 24,600,000 Aff. Rental 121,500 1,013 15%100%100%100%2025 <br />TOTAL 24,600,000 121,500 <br />Subtotal Residential 120 24,600,000 121,500 <br />Subtotal Commercial/Ind.0 0 0 <br />Note: <br />1. Market values are based upon estiamtes from the County Assessor. <br />Total Fiscal Local Local Fiscal State-wide Market <br />Tax Disparities Tax Property Disparities Property Value Total Taxes Per <br />New Use Capacity Tax Capacity Capacity Taxes Taxes Taxes Taxes Taxes Sq. Ft./Unit <br />Apartments 121,500 0 121,500 139,743 0 0 33,709 173,452 1,445.43 <br />TOTAL 121,500 0 121,500 139,743 0 0 33,709 173,452 <br />Note: <br />1. Taxes and tax increment will vary significantly from year to year depending upon values, rates, state law, fiscal disparities and other factors <br /> which cannot be predicted. <br />Total Property Taxes 173,452 Current Market Value - Est.699,800 <br />less State-wide Taxes 0 New Market Value - Est.24,600,000 <br />less Fiscal Disp. Adj.0 Difference 23,900,200 <br />less Market Value Taxes (33,709)Present Value of Tax Increment 3,659,970 <br />less Base Value Taxes (6,037) Difference 20,240,230 <br />Annual Gross TIF 133,706 Value likely to occur without Tax Increment is less than:20,240,230 <br /> WHAT IS EXCLUDED FROM TIF?MARKET VALUE BUT / FOR ANALYSIS <br />TAX CALCULATIONS <br />PROJECT INFORMATION (Project Tax Capacity) <br />Prepared by Ehlers