CC PACKET 03221994 - Laserfiche WebLink

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PROPERTY TAX IMPACT OF METROPOLITAN REINVESTMENT PROGRAM RELATIVE TO CURRENT LAW assuming that the program was in effect for taxes payable in 1993 METHODS / ASSUMPTIONS: (1) Expenditures from the metropolitan reinvestment fund do not reduce or offset any existing local government expenditures. . (2) Taxes upon the exempt.homestead net tax capacity in Sunfish Lake, which is excluded from the current fiscal disparities program due to zoning practices, are paid into the metropolitan reinvestment fund. (3) School aid and city LGA are recalculated based upon the reduction in locally taxable tax capacity that occurs as a result of contributing the excess homestead net tax capacity to the metropolitan reinvestment fund. For purposes of recalculating city LGA, the 1994 LGA formula is used. (The net increase or decrease in LGA that would occur in 1994 as a result of the subtraction of the excess homestead net tax capacity is subtracted from or added to the city levy for purposes of calculating the estimated total tax rate under the metropolitan reinvestment program.) (4) The amount of excess home net tax capacity is not precisely known. Excess homestead tax capacity amounts appearing in this printout are estimates. (5) As used herein, "net tax capacity" refers to total tax capacity minus'captured TIF tax capcity and contribution tax capacity and plus distribution tax capacity. EST. PERCENT INCREASE (OR DECREASE) ••. PAYABLE 1994 DATA "• Estimated Excess Hone Actual Est. Total Tax Rate IN TAX BURDENS FOR... Estimated Excess Now Excess Home Net Tax Cap. Pay 1993 Tax Rate Increase Haines Under Excess Home Net Tax Cap. Net Tax as X of Total Total Under Metro Under Metro C/1 E200,000 1150,000 8 All Net Tax as % of Total ANOKA COUNTY Capacity Net Tax Cap. Tax Rate Reinvestment Reinvestment Property Homestead Other Property Capacity Net Tax Cap. ...... ................................................................................ ................................. --.I..............------..... BURNS T 14,578 1.0% 104.082 106.188 2.106 1.3% 7.1% 2.0% 24,709 1.6% COLUMBUS T 23,490 1.1% 106.248 108.689 2.441 1.5% 6.5% 2.3% 33,681 1.5% LINWOOD T 12,385 0.6% 110.980 113.349 - 2.369 1.4% 4.9% 2.1% 14,308 0.7% OAK GROVE T 24,961 0.9% 133.669 136.292 2.623 1.3% -1.0% 2.0% 32,696 1J% ANDOVER C 331,968 3.5% 114.112 117.305 3.193 1.7% 4.5% 2.8% 437,650 4.4% ANOKA C 49,432 0.5% 121.204 123.711 2.507 1.5% 2.0% 2.1% 69,086 0.6% BETHEL C 0 0.0% 130.018 132.142 2.124 1.1% -0.4% 1.6% 0 0.0% BLAINE (JT) C 111,440 0.5% 119.711 122.126 2.414 1.2% 2.4% 2.0% 149,800 0.7% CENTERVILLE C 6,112 0.7% 131.029 134.069 3.040 1.6% -0.1% 2.3% 6,210 0.7% CIRCLE PINES C 65,832 2.6% 126.263 130.071 3.808 2.0% 1.4% 3.0% 77,207 3.0% COLUMBIA HEIGHTS C 15,535 0.1% 125.853 127.968 2.115 1.4% 0.6% 1.7% 18,648 0.2%._ COON RAPIDS C 257,154 0.8X 117.598 120.187 2.589 1.4% 3.1% 2.2% 277,658 0.8% EAST BETHEL C 16,144 0.4% 109.333 111.566 2.232 1.3% 5.4% 2.0% 22,046 0.5% FRIDLEY C 163,156 0.7% 116.294 118.398 2.104 1.2% 3.1% 1.8% 160,970 0.7% HAM LAKE C 66,811 1.2% 109.622 112.190 2.568 1.5% 5.5% 2.3% 120,598 2.2% HILLTOP C 0 0.0% 146.329 148.394 2.065 1.1% -3.8X 1.4% 0 0.0% LEXINGTON C 0 0.0% 122.814 125.465 2.651 1.4% 1.7% 2.2% 0 0.0% LINO LAKES C 256,643 4.6% 126.858 131.434 4.576 2.4% 1.7% 3.6% 352,772 5.7% RAMSEY C 163,084 2.4% 113.340 116.170 2.830 1.5% 4.5% 2.5% 191,151 2.6% SAINT FRANCIS C 351 0.0% 125.152 127.287 2.135 1.1% 0.8% 1.7% 565 0.0% SPRING LK PK (JT) C 8,393 0.2% 119.732 121.664 1.931 1.0% 2.1% 1.6% 16,153 0.4%