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because the development would not have occurred without public intervention, the assumed <br />amount of mx dollars foregone by each jurisdiction is listed in Table I below. <br /> <br />TABLE I <br /> <br />Percent of Tax Increment Attributable to Various Taxing Jurisdictions <br /> <br />Taxing Jurisdiction Local Tax Percent of Estimated <br /> Rate (LTR) Total LTR Tax Loss <br />City of Ramsey 18.447 16.98% $11,264.84 <br />Anoka County 32.579 29.98% $19,894.69 <br />Independent School Dist~ No. 11 56.59I 52.07% $34,557.86 <br />Other 1.057 0.97% $645.47 <br />TOTAL 108.674 100.00% $66,362.86 <br /> <br /> Table II, below, shows the additional local tax rate needed to compensate each taxing <br />jurisdiction for "lost" tax dollars. The increased tax capacity created within TIF District No. 2 will <br />eventually permit a local tax rate decrease. Nevertheless, assuming that increment generated during <br />the TIF District's life is lost to other taxing jurisdictions, Table 1I shows how much the local tax <br />rate for property outside the TIF District would have to be increased to raise the same number of <br />tax dollars. <br /> <br />TABLE H <br /> <br />Hypothetical Local Tax Rate Increase, by Taxing Jurisdiction <br /> <br />Taxing Jurisdiction <br /> <br />City of Ramsey <br /> <br />Anoka County <br /> <br />Independent School Dist~ No. 11 <br /> <br />1993 (Payable) Estimated LTR Increase <br />Tax Capacity Tax Loss Required <br />$6,402,126.00 $11,264.84 0.176 <br />$142,241,295.00 $19,894.69 0.014 <br />$82,938,588.00 $34,557.86 0.042 <br /> <br />W. Annual Final~cial Report. <br /> <br /> Pursuant to §469.175, Subd. 6 of the TIF Act, the City must file an annual financial report <br />regarding TIF District No. 2. The report shall be ~ed by July 1 of each year with the school <br />board, the county board and the state auditor. The report shall include the following information: <br /> <br />1. The original tax capacity of TIF District No. 2; <br /> <br />o <br /> <br />The captured tax capacity of TIF District No. 2, including the amount of any <br />captured mx capacity shared with other taxing districts; <br /> <br />o <br /> <br />The outstanding principal amount of bonds issued or other loans incurred to finance <br />project costs in TIF District No. 2; <br /> <br />For the reporting period and for the duration of TIF District No. 2, the amount <br />budgeted under the TIF Plan and the actual amount expended for the following <br />categories: <br /> <br />13 <br /> <br /> <br />