Agenda Packets - 1988/02/22 - Laserfiche WebLink

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Total Assessed Value 41 Tax increment Finance District 1!2/87 Total t 86,240 Latest Assessed Value of Each Government Body: % of District to Total $3,315,892,299 .0026 Ramsey County $ 605,174,784 .0142 School District City of Mounds View $ 59,887,551 .1440 Considering all the districts, it can be seen from the above that the school ble forcounty or normal growthtof tlaxhave baseoorer 99% of each respective district valuatt n. Applying the percentage ofthe total mill rate estimate in 1988 levied by each taxing !urisdlction to the projected mill rate and the estimated tax Increment received reveals the taxingannual loss of tax dollars by each jurisdiction as listed in the table below ASSUMING DEVELOPMENT WOULDOCCUR WITHOUT PUBLIC ASgISTANCE. The financr plan indicates an anticipated tax increment at build out as follows: Captured Tax Assessed Increment Valuation Recelved Tax Increment Finance District p3 $5,068,376 $ 593,000 Based on an estimated mill rats, the estimated taxes received would be as follows for the taxing bodies: Mills P^scent Taxincrement City 16.742 14.3 u $ 33.730 184,799 County 50.5 299,465 7 School District 5.76 37,952 Other .378 6.4 Total 116.926 100.00% $ 593,000 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 development alluded to in the tax increment district would not be available to any of the taxing juri oictions were it not for public intervention by the City. Although the increases in assessed value due to development will not be available for the application of the mill levy for the duration of the tax permitincrementmiill levygd crease. thisIitnew couldsbesasuVeedethat could he captured p;