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CITY OF ELK RIVER <br />TAX REBATE FINANCING PROJECTION WORKSHEET <br /> <br />Project Name: Gradient Technology Expansion/Relocation <br /> <br />TRF Project: 13,000-sq.ft. light manufacturing facility, located on 1.5-acres <br /> <br />Assumption: Projection is based on estimated payable 2004 tax rates and estimated project market value. <br /> The Project will be assessed upon actual tax rates and market value in the year following construction. <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 />Other Jurisdictions* <br />Total Tax Capacity Rate <br /> <br />0.015 <br />0.020 <br /> <br />0.43734 <br />O.44363 <br />0.32709 <br />0.54447 <br />0.03559 <br /> <br />1.78812 <br /> <br />Land Value ,:::, ?; : <br />Building Value <br />Total Assessed Ma rket Value $ 0001:0O <br />MAX Years of TRF Project <br />Property's Total Tax Capacity $ 19,250.00 <br /> <br />ASSUMPTIONS <br /> <br />Pay 2004 <br /> <br />Pay 2004 <br /> <br />Pay 2004 Est. <br />Pay 2004 Est. <br />Pay 2004 Est. <br />Pay 2004 Est. <br />Pay 2004 Est. <br />Pay 2004 Est. <br /> <br /> City Portion $ 8,418.80 <br /> County Portion $ 8,539.88 <br />School District Portion $ 6,296.48 <br />State Portion $ 10,481.05 <br /> Other Jurisdictions $ 685.11 <br /> <br />Total Estimated Real Estate Taxes $ 34,421.31 <br /> <br /> $52,598.50 <br /> <br />Land Cost = 1.61/sf <br /> <br />*Amount of abatement will vaN depending on market vatue, tax rates, class rates, construction schedule and inflation on MV. <br /> <br />*includes City HRA, City EDA, County HRA, County RaiI Authority <br /> <br />*Does not include Market Value School Excess Levy Referendum 2003 rate of 0.07597% <br /> <br /> FILE:gradtechTRF.xls 1/22/2004 <br /> <br /> <br />