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Projected Tax Increment Report
<br />City of Elk River, Minnesota
<br />Tax Increment Financing (Economic Development) District No. 26
<br />Shoot Steel, INC
<br />Draft TIF Plan Exhibits
<br />Less:Retained Times:Less:Less:P.V.
<br />Annual Total Total Original Captured Tax Annual State Aud.Subtotal Admin.Annual Annual
<br />Period Estimated Net Tax Net Tax Net Tax Capacity Gross Tax Deduction Net Tax Retainage Net Net Rev. To
<br />Ending Market Value (1)Capacity (2)Capacity (3)Capacity Rate (4)Increment 0.360%Increment 10.00%Revenue 02/01/21
<br />(1)(2)(3)(4)(5)(6)(7)(8)(9)(10)(11)4.00%
<br />12/31/20 378,100 6,812 6,812 0 130.571%0 0 0 0 0 0
<br />12/31/21 378,100 6,812 6,812 0 130.571%0 0 0 0 0 0
<br />12/31/22 1,349,100 26,232 6,812 19,420 130.571%25,357 91 25,266 2,527 22,739 21,300
<br />12/31/23 1,389,573 27,041 6,812 20,229 130.571%26,415 95 26,320 2,632 23,688 21,336
<br />12/31/24 1,431,260 27,875 6,812 21,063 130.571%27,502 99 27,403 2,740 24,663 21,359
<br />12/31/25 1,474,198 28,734 6,812 21,922 130.571%28,624 103 28,521 2,852 25,669 21,376
<br />12/31/26 1,518,424 29,618 6,812 22,806 130.571%29,779 107 29,672 2,967 26,705 21,383
<br />12/31/27 1,563,977 30,530 6,812 23,718 130.571%30,968 111 30,857 3,086 27,771 21,381
<br />12/31/28 1,610,896 31,468 6,812 24,656 130.571%32,194 116 32,078 3,208 28,870 21,373
<br />12/31/29 1,659,223 32,434 6,812 25,622 130.571%33,456 120 33,336 3,334 30,002 21,356
<br />12/31/30 1,709,000 33,430 6,812 26,618 130.571%34,755 125 34,630 3,463 31,167 21,332
<br />$269,050 $967 $268,083 $26,809 $241,274 $192,196
<br />(1) value based on estimate provided by City for the anticipated construction of new businesses and possible existing business expansions
<br />(2) tax capacity based on commercial-industrial class rate of 1.50% for first $150,000 of value and 2% for value above $150,000
<br />(3) original net tax capacity will be based on existing land and building values and commercial-industrial class rate for payable 2021
<br />(4) combined local tax capacity rate of City of Elk River, ISD 728 and Sherburne County for payable 2020
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