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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 2.05-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 IASSUMPTIONS <br />Up to $150,000 0.0151Pay 2004 <br />Over $150,000 0.0201Pay 2004 <br />Tax Capacity Rate <br /> <br /> City Portion <br /> County Portion <br /> School District Portion <br /> State Portion <br />Other Jurisdictions* <br />Total Tax Capacity Rate <br /> <br />0.43734 <br />0.44363 <br />0.32709 <br />0.54447 <br />0.03559 <br />1.78812 <br /> <br />Pay 2004 Est. <br />Pay 2004 Est. <br />Pay 2004 Est. <br />Pay 2004 Est. <br />Pay 2004 Est. <br />Pay 2004 Est. <br /> <br />Land Value ::$ : 1;07,300:00 <br />Building Value ; $; 609,700;00; <br />Total Assessed Market Value $ ;717;000.00 <br />MAX Years of TRF Project ;;1;0 <br />Property's Total Tax Capacity $ 13,590.00 <br /> <br />Per Co. Assessor 3/23/04 <br />Per Co. Assessor 3/23/04 <br />Per Co. Assessor 3/23/04 <br /> <br />Property TaX Breakdown Annual Estimate <br /> <br /> City Portion $ 5,943.45 <br /> County Portion $ 6,028.93 <br />School District Portion $ 4,445.15 <br />State Portion $ 7,399.35 <br /> Other Jurisdictions $ 483.67 <br /> <br />Total Estimated Real Estate Taxes $ 24,300.55 <br /> <br />TOtal TRF Needed: Land;COSt ;:; $1;43,770 <br />City 1/2: $71,885.00 <br />County 1/2: <br /> <br />TRF YearSi~ Land <br /> 12 <br /> <br />Cost = 1.61/sf <br /> <br /> $71,885.00 <br />*Amount of abatement will vary depending on market value, tax rates, class rates, construction schedule and inflation on MY. <br />*Includes City HRA, City EDA, County HRA, County Rail Authority <br /> <br />'Does not include Market Value School Excess Levy Referendum 2003 rate of 0.07597% <br /> <br /> FILE:gradtechTRF.xls 3/23/2004 <br /> <br /> <br />