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City of Ramsey, Minnesota <br />(3) each year the County Auditor shall certify the amount of the original net tax capacity of the TIF <br />District. The amount certified shall reflect any changes that occur as a result of the following: <br />(a) <br />the value of property that changesfrom tax-exempt to taxable shall be added to the <br />original net tax capacity of the TIF District. The reverse shall also apply; <br />(b) the original net tax capacity may be modified by any approved enlargement or reduction <br />of the TIF District; <br />(c) if laws governing the classification of real property cause changes to the percentage of <br />estimated market value to be applied for property tax purposes, then the resulting <br />increase or decrease in net tax capacity shall be applied proportionately to the original <br />net tax capacity and the retained captured net tax capacity of the TIF District. <br />The County Auditor shall notify the City of all changes made to the original net tax capacity of the TIF District. <br />Section AB Filing TIF Plan, Financial Reporting and Disclosure Requirements <br />The City will file the TIF Plan and any subsequent amendments thereto, with the Commissioner of Revenue and the <br />Office of the State Auditor pursuant to Minnesota Statutes, Section 469.175, subdivision 4A. The City will comply <br />with all reporting requirements for the TIF District under Minnesota Statutes, Section 469.175, subdivisions 5 and 6. <br />SPRINGSTED Page 12 <br />