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<br /> EXHIBIT E
<br /> IMPACT OF TAX INCREMENT FINANCING DISTRICT NO. 13
<br /> ON OTHER MAJOR TAXING JURISDICTIONS
<br /> City of Elk River,Minnesota
<br /> Without Project With Project
<br /> Projected Negative
<br /> 1994/1995 1994/1995 1994/1995 1994/1995 Projected New Tax 1994/1995 Adjusted Tax Capacity Captured Impact on
<br /> Tax Capacity Ad Valorem Tax Capacity Tax Capacity Captured Tax Capacity Ad Valorem Tax Capacity Rate Tax Capacity Other Taxing
<br /> Value Taxes Levied Rate Value Capacity Value Value Taxes Levied Rate Impact Value Jurisdictions
<br /> City of Elk River $9,324,360 $2,223,347 23.958% $9,324,360 $26,212 $9,350,572 $2,223,347 23.778 0.180 $26,212 $6,232
<br /> Sherburne Country $54,255,803 $12,128,779 22.380% $54,255,803 $26,212 $54,282,015 $12,128,779 22.344 0.036 $26,212 $5,857
<br /> ISD 728 $19,431,867 $11,032,065 56.511% $19,431,867 $26,212 $19,458,079 $11,032,065 56.443 0.068 $26,212 $14,795
<br /> Other 1.398% $26,212 1.398 $26,212 $321
<br /> TOTALS 104.247 103.963 0.284% $27,250
<br /> STATEMENT 1: The 1994/1995 tax capacity value times the 1994/1995 tax capacity rate produces 1994/1995 taxes generated. If the captured tax capacity value was available to each taxing
<br /> jurisdiction,the result would be a lower or adjusted tax capacity rate which would produce the same amount of taxes. Thus,with the addition of captured value$26,212,the tax
<br /> capacity rate for the above-selected major taxing jurisdictions would be reduced by a rate of.284%to an adjusted tax capacity of$103.963%. The captured tax capacity times the
<br /> adjusted tax capacity rate of 103.963%would generate$27,250 in increment income,which represents the loss of new revenues if the development had not occurred without
<br /> inclusion in a Tax Increment District.
<br /> STATEMENT 2: If no captured tax capacity value is available to each of the taxing jurisdictions,there is no impact on the taxes heretofore levied,and therefore,no impact on tax capacity rates.
<br /> NOTE: The impact on"other"taxing jurisdictions is negligible since those jurisdictions represent approximately 1.0%of the overall tax levy.
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