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CITY OF ELK RIVER <br />TAX REBATE FINANCING PROJECTION WORKSHEET <br /> <br /> Project Name: Elk Path Professional Building <br /> TRF Project: 42,000-square foot office building <br /> <br /> Assumption: Final construction 12/31/02, assessed 1/01/03 for payable 2004 <br /> First TRF payment to developer available 2004 <br /> <br />State Class Rate <br /> Up to $150,000 <br /> Over $150,000 <br />Tax Capacity Rate <br /> City Portion <br /> County Portion <br /> School District Portion <br /> State Portion <br /> <br /> 0.015 <br /> 0.020 <br /> <br /> 0.436 <br />0.47577 <br />0.45969 <br />0.57933 <br /> <br />ASSUMPTIONS <br />Pay 2002 <br /> <br />Pay 2002 <br /> <br />Pay 2002 <br />Pay 2002 <br />Pay 2002 <br />Pay 2002 <br /> <br /> Land Value $ 548,600:00 <br /> Building Value $ : 2,:797,600.00 <br />Total Market Value $ :: 3,346,200.00 <br />Years of TRF Project l0 <br />Property's Total Tax Capacity $ 66,174.00 <br /> <br />City Portion $ 28,851.86 $ 288,518.64 <br />County Portion $ 31,483.60 $ 314,836.04 <br />School District Portion $ 30,419.53 $ <br />State Portion $ 38,336.58 $ <br />Joint City & County Portion $ 60,335.47 $ 603,354.68 <br /> <br />$200,000 <br /> <br />*Amount of abatement will vary depending on market value, tax rates, class rates, construction schedule and inflation on MV. <br /> FILE:JoliverTRF.xls ~ <br /> <br /> <br />