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<br />~ '. <br /> <br />..MlNNESOTA Department of Revenue <br />Property Tax Division <br /> <br />Mail Station 3340 <br />Phone (651) 296-5145 <br /> <br />St. Paul, MN 55146-3340 <br />Fax (651) 297-2166 <br /> <br />. <br /> <br />. Payable 2000 Overall Levy Limitation Notice:. <br /> <br /> <br />ELK RIVER CITY OF <br />CITY ADMINISTRATOR <br />CITY HALL <br />13065 ORONO PKWY BOX 490 <br />ELK RIVER, MN 55330 <br /> <br />July 28, 1999 <br />Revised Atl~ti3t U;, 1~~' <br />G- "-99' <br /> <br />The payable 2000 overall levy limitation for your city is: <br /> <br />s <br /> <br />3,949,899 <br /> <br />The following is a listing of the factors used in determining your city's payable 2000 <br />overall levy limit~tion. See the enclosed letter for an explanation of these factors and for <br />additional information concerning your city's overall levy limitation. <br />. , <br /> <br />1. Adjusted Levy Limit Base for Payable 1999: $ 4,274,967 <br />2. Implicit Price Deflator Adjustment (Mar. 99/Mar. 98): 1.015 <br />3. Household Growth Adjustment <br /> a. 1997 Households: 5,026 <br /> b. 1998 Households: 5,335 <br />. c. Ratio of 1998 to 1997 Households (b/a, but not less than <br /> 1.000): 1.061 <br />4. Adjustment for Payable 1999 Market Value of New CII Construction <br /> a. Payable 1998 Total Taxable Market Value: $ 645,916,470 <br /> b. Payable 1999 Market Value of New CII Construction: $ 25,936,421 <br /> c. Adjustment (1 + Ratio of (b) to (a)): 1.040 <br />5. Adjusted Levy Limit Base for Payable 2000 (1 x 2 x 3c x 4c): $ 4,787,927 <br />6. New Net Tax Capacity-Based Referendum Levies: $ <br />'7. 2000 Property Tax Aids 0:; ?lP,977 <br /> a. 2000 Certified Local Government Aid (LGA): $ 228, 119 <br /> b. 2000 Certified Homestead and Agricultural Credit Aid <br /> (HACA): $ 601,225 <br /> c. 2000 Estimated Taconite Aids: $ <br /> d. 2000 Certified Existing Low Income Housing Aid: $ 8?2~~~~ <br /> e. Total (a + b + C + d): $ <br /> , <br />8. 1999 Tax Rate Excess Tax Increments (Increase Over 1997): $ 8,384 <br />9. Payable 2000 Overall Levy Limitation (5 + 6 -7e - 8): $ 3,9-49,899 <br /> .3, '1~J,SJ.f I <br /> <br />. <br /> <br />An equal opportunity employer <br /> <br />TrYirDD: (65/) 2/5-0069 <br />