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07!28/95 1~:~7 f.~T 612 223 3002 SPRINGSTED INC. I~]002/008
<br /> CITY OF ELK RIVER, MINNESOTA
<br /> Tax impact of Various Bond Sizes for Taxes Payable in 1999 {a)
<br /> Construction for East Highway ~ 0 Utilities
<br />•
<br /> Project: Altemate 1 Altemate 2 Alternate 3
<br /> Bond Issue Size: 54,440,000 $5.980,000 55.580,000
<br /> Estimated Net
<br /> tutarket Tax Est. Average
<br /> ~e of Ptapern Value(b) Ca aci Tax Rate Impact; {c) 4.30496 x.91.796 x.57996
<br /> Residential Homestead $60,000 $600 326 $30 327
<br /> 70,000 700 30 34 32
<br /> 80,000 880 38 43 40
<br /> 90,000 1,080 48 53 49
<br /> t 00, 000 1, 280 55 63 59
<br /> 110,000 1,480 64 73 68
<br /> 120,000 1,680 72 83 77
<br /> Commercial/Industrial 50,000 1,500 65 74 fig
<br /> 75,000. 1,850 80 91 85
<br /> 100,000 3,000 129 148 137
<br /> 125,000 4,150 179 204 190
<br /> 150,000 5,300 228 261 243
<br /> 200.000 7,600 327 374 348
<br /> 500,000 21,400 921 1,052 980
<br /> Residential Nort-Homestead ao,000 1,360 59 67 B2
<br /> Apartments (4+ units} 60,000 2,040 88 100 93
<br /> 75,000 2,550 110 125 i 17
<br /> 100,000 3,400 146 167 156
<br />• Apartments 25,000 575 25 28 28
<br /> {less than 4 units} 50,000 1,150 4g 57 53
<br /> 75.000
<br />1,725
<br />74
<br />8S
<br />79
<br />Agricultural Homestead
<br />Dwelling Net
<br />Market Tax
<br />Value (d) Acres (e) Tetal EMV Capacity
<br />550,000 160 $138,000 $896 3g 44 41
<br />320 226,000 1,630 70 80 75
<br />NOTES:
<br />(a) Represents the estimated increase in taxes payable at various market values if the estimated tax capacity rate
<br />1ni:reases due to the bond issues shown above being added ro the current tar capacity rate for Meares payable
<br />in 1999. The pr%cted taz im pact is computed on the Giry's 1995 payab/e net tea; capacity value. of 89,324,860.
<br />(b) Estimated marker value is the basis from which net tax capacity is calculated. This value is not necessarily the price
<br />the property would bring it sold
<br />(c) The projected tar impactis based on an average of levy years f998 through 201 D.
<br />(dJ Includes pause, garage and one acre.
<br />(e) Estimated value per tillable acre is 5550.
<br />• 'Changes in irrrerest rates, timing or size of the bond issue may cause significant alterations. of this information.
<br />Prepared by: SPRINGSTED Incorporated (28-Jul-95 } F:~USERS~ALIELKTAX,WK1
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