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• CITY OF ELK RIVER <br /> TAX REBATE FINANCING PROJECTION WORKSHEET <br /> Project Name: Gradient Technology Expansion/Relocation <br /> TRF Project: 13,000-sq.ft. light manufacturing facility,located on 1.5-acres <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 /> I <br /> State Class Rate ASSUMPTIONS <br /> Up to $150,000 0.015 Pay 2004 <br /> Over $150,000 0.020 Pay 2004 <br /> Tax Capacity Rate <br /> City Portion 0.43734 Pay 2004 Est. , <br /> County Portion 0.44363 Pay 2004 Est. <br /> School District Portion 0.32709 Pay 2004 Est. <br /> State Portion 0.54447 Pay 2004 Est. <br /> Other Jurisdictions* 0.03559 Pay 2004 Est. <br /> • Total Tax Capacity Rate 1.78812 Pay 2004 Est. <br /> Land Value . -_ . ., •; <br /> Building Value -,;;Dii: 45:. <br /> Total Assessed Market Value $ 1 ,9Q00;O00 00 <br /> MAX Years of TRF Project0 $ . <br /> Property's Total Tax Capacity $ 19,250.00 <br /> Property Tax Breakdown 3 , Annua Estimate <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 /> Total Estimated Real Estate Taxes $ 34,421,31 <br /> 'otai TRF Needed,tantl Cos`#. $i D5 19? T R LandCost= 1. sf <br /> ears ; C 61/ <br /> City 1/2: $52,598.50 6 <br /> County 1/2: $52,598.50 6 <br /> `Amount of abatement will vary depending on market value,tax rates, class rates, construction schedule and inflation on MV. <br /> • "Includes City HRA, City EDA, County HRA, County Rail Authority <br /> *Does not include Market Value School Excess Levy Referendum 2003 rate of 0.07597% <br /> FILE:gradtechTRF.xls 1/22/2004 <br />