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Projected Tax Increment Report
<br />City of Elk River, Minnesota
<br />Tax Increment Financing (Housing ) District
<br />Hillside Senior Housing
<br />Prelminiary Revenue Projections
<br />Less: Retained Times:Less:Less:P.V.
<br />Annual Total Total Original Captured Tax Annual State Aud.Subtotal Admin. Annual Annual
<br />Period Market Net Tax Net Tax Net Tax Capacity Gross Tax Deduction Net Tax Retainage Net Net Rev. To
<br />Ending Value (1)Capacity (2)Capacity (3)Capacity Rate
<br />(4)Increment 0.360% Increment 10.00% Revenue 02/01/21
<br />(1)(2)(3)(4)(6)(7)(8)(9)(10)(11)(12)4.00%
<br />12/31/20 310,300 3,879 3,879 0 130.571%0 0 0 0 0 0
<br />12/31/21 310,300 3,879 3,879 0 130.571%0 0 0 0 0 0
<br />12/31/22 310,300 3,879 3,879 0 130.571%0 0 0 0 0 0
<br />12/31/23 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 *97,333
<br />12/31/24 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 93,589
<br />12/31/25 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 89,990
<br />12/31/26 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 86,529
<br />12/31/27 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 83,201
<br />12/31/28 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 80,001
<br />12/31/29 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 76,924
<br />12/31/30 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 73,965
<br />12/31/31 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 71,120
<br />12/31/32 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 68,385
<br />12/31/33 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 65,755
<br />12/31/34 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 63,226
<br />12/31/35 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 60,794
<br />12/31/36 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 58,456
<br />12/31/37 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 56,207
<br />12/31/38 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 54,045
<br />12/31/39 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 51,967
<br />12/31/40 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 49,968
<br />12/31/41 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 48,046
<br />12/31/42 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 46,198
<br />12/31/43 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 44,421
<br />12/31/44 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 42,713
<br />12/31/45 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 41,070
<br />12/31/46 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 39,491
<br />12/31/47 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 37,972
<br />12/31/48 7,766,300 97,079 3,879 93,200 130.571% 121,692 438 121,254 12,125 109,129 36,511
<br />$3,163,992 $11,388 $3,152,604 $315,250 $2,837,354 $1,617,877
<br />* election to delay receipt of first increment until 2023 (up to 4 years from approval date)
<br />(1) Total estimated market value based on information provided by County Assessor ($141,205/unit)
<br /> very preliminary and subject to further review. Includes 0% annual market value inflator
<br />(2) Total net tax capacity based on residential rental market rate class rate of 1.25%
<br />(3) Original net tax capacity based on existing land & building value
<br />(4) Total local combined tax rate available for taxes payable 2020 rates
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