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07/28/95 15:57 FA% 612 223 3002 SPRINGSTED INC. 0]002/002 <br /> CITY OF ELK RIVER MINNESOTA <br />Tau Impact of Various Bond Sizes for Taxes Payable in 1999 (aj <br /> Construction for East Highway 10 Utilities <br />• With Green Acres <br />Project: Alternate tfGA Altemate 2/t3A <br />Alternate 3iCaA <br /> BOrtd Issue Size: 14,440,000 S5,9S0,0o0 55,580.000 <br /> Estimated Net <br /> Market <br />Value(b) Tax Est. Av®rage <br />Ca aci Tax Rate I~act: (c) <br />3.57096. <br />2.40196 <br />2,96396 <br />woe ot__, ProOertY <br /> <br />Residential Homestead <br />560,000 <br />5600 821 <br />25 114 <br />17 118 <br />21 <br /> 7a,oo0 700 <br />3t <br />21 <br />2B <br /> ~,~ 8~ 39 26 32 <br /> 80.000 1.080 46 31 ~ <br /> 100,000 1,280 53 ~ dd <br /> 110,000 1,480 ~ d0 `~ <br /> 120,000 1,680 <br /> <br />Commercial/Industrial <br />54.E 1,500 54 <br />66 36 <br />44 ~ <br />55 <br /> 75.000 1,850 <br />107 72 89 <br /> 100,000 3.000 148 100 123 <br /> 125,000 4,150 189 127 157 <br /> 150,000 5,300 271 182 225 <br /> 200,000 7.6~ 764 514 634 <br /> 500,000 21,4Q0 <br /> <br />Residential Non-Homestead <br />40,000 <br />1,360 49 <br />73 33 <br />49 40 <br />60 <br />Apartments (4+ units ~.~ 2,040 91 61 78 <br /> 75,000 2,550 121 82 101 <br /> 100,000 3,400 <br />• <br />Apartments <br />2 <br />5,~ <br />575 <br />150 <br />1 21 <br />41 14 <br />28 17 <br />~ <br />(less than 4 units) ~ , <br />62 41 51 <br /> 75,000 t ,725 <br />Agricultural Homestead <br />Dwelling Net <br />Market Tax <br />Valued Acres a Total EMV Ca ei 32 22 27 <br />$50,000 160 5138,400 $896 58 gg 48 <br />320 226,000 1,630 <br />NOTES: <br />(a) Represents the estimated Increase in taxes payable et various market values if the estimated tax capacity rare <br />Increases due to the bond issues shown above being added to the current lax capacity rate for fazes payable <br />in 1999. The project®d tax impact is computed on the City's f9s5 payable net tax capacity value of S9s24,360. <br />(b) Estimated market value Is the basis from which net iaz capacity is calculated. This value is not necessarily the price <br />the property would bring it sold. <br />(c) The projected tar impact /s based on an average o~ levy years t 99B through 2010. <br />(d) Includes house, garage and one acre. <br />(e) Estimated value per tillable acre Is S55o. <br />• Changes in interest rates, timing or sue of the bond Issue may cause signilicent alterations of this Information. <br />• <br />Prepared by: SPRINGSTED Incorporated { 28-Jul-95) F:IUSERSIA~IEL~~GA.WK1 <br />