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9/12/2013 <br />Taxes Not Captured <br />• State Property Taxes <br />✓ Tax paid by commercial users (cabin owners pay as well) <br />✓ Not included in local tax capacity rate therefore it is not applied <br />to captured value for TIF districts or abatement <br />• Market Value Taxes <br />✓ School operating referendums <br />✓ Based upon market value of property rather than tax capacity of <br />property <br />✓ Not included in local tax capacity rate therefore it is not applied <br />to captured value for TIF districts or abatement <br />EHLERS <br />Building Blocks of TIF <br />The original (`base") market value <br />established when District created <br />Tax revenues <br />continue to go to all <br />local governments <br />Original Tax Capacity <br />EHLERS <br />3 <br />