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St. Anthony Public Facilities Funding <br /> The table above also shows the property tax impact if the Kenzie TIF District was <br /> decertified for taxes payable 2004 and the captured tax capacity was returned to the <br /> general property tax rolls. <br /> Table H <br /> The following shows the impact on a $500,000 commercial property. <br /> Lease Lease <br /> G.O. Revenue G. O. Revenue <br /> $5 million $5 million $1 million $1 million <br /> Market Value $500,000 $500,000 $500,000 $500,000 <br /> Tax capacity 9,250 9,250 9,250 9,250 <br /> City tax rate-actual 2003 .461039 .461039 .461039 .461039 <br /> Property taxes $4,265.00 $4,265.00 $4,265.00 $4,265.00 <br /> Debt levy-proposed issue only .$428.00 $824.00 . $89.00 $173.00 <br /> Total taxes-before decertification $4,693.00 $5,089.00 $4,354.00 $4,438.00 <br /> Impact of decertifying <br /> Kenzie TIF District 301.00 321.00 282.00 288.00 <br /> Total taxes-after decertification $4,392.00 $4,768.00 $4,072.00 $4,150.00 <br /> Net change in taxes due to bond <br /> issue if district is decertified 127.00 503.00 193.00 115.00 <br /> The table above is the estimated taxes on a commercial property for the city portion of <br /> taxes only and does not include other taxing jurisdictions or adjustments for fiscal <br /> disparities. <br /> The table above also shows the property tax impact if the Kenzie TIF District was <br /> decertified for taxes payable 2004 and the captured tax capacity was returned to the <br /> general property tax rolls <br /> The decrease in the city property tax rate is due to the return of the additional taxable tax <br /> capacity value of the Tax Increment Financing District to the general property tax rolls. <br /> It is important to note that the differences between voter approved general obligation and <br /> lease revenue bonds for properties within tax increment districts. The debt service levy <br /> for payment of voter approved general obligation bonds are collected from properties <br /> within a tax increment district and is used to make debt service payments. The debt <br /> service levy for payment of lease revenue bonds are also collected from tax increment <br /> districts, however those funds will most likely be captured increment and not available <br /> for debt service payments. <br /> Page 3 of 5 <br />