Laserfiche WebLink
Section 9: Tax Base <br />1 Current Net Tax Capacity* <br />What is the taxable market value of the property as <br />established by an assessor as of January 2, 2013? $1,915,000.00 <br />What is the property class type according to the Class Rate <br />Percentages of Real and Personal Property by Property <br />Type established by the Minnesota Department of <br />Revenue? Tax Exempt <br />What is the property class rate(s) according to the Class <br />Rate Percentages of Real and Personal Property by <br />Property Type established by the Minnesota Department of <br />Revenue? NA <br />What is the net tax capacity for the project site based on the <br />taxable market value as assessed on January 2, 2013? $0.00 <br />(The net tax capacity is the product of the current taxable market value multiplied by the <br />class rate(s) for the specific property type (e.g. 3a Commercial -Industrial First $150,000 <br />1.5%, over $150,000 2% or 4a Rental Housing 1.25%). Additional property tax class rates <br />may be found at the Minnesota Department of Revenue at the following link: Class Rates <br />for Real and Personal Property by Property Type) <br />2. Property Taxes: <br />What are the estimated property taxes for the project site <br />payable in 2014? OR $0.00 <br />What annual payments -in -lieu of taxes (PILOT) will be <br />made for the project site upon completion? $0.00 <br />For how long? NA <br />3. Projected Net Tax Capacity* <br />What is the future estimated market value of the proposed <br />improvements after the site is cleaned and developed <br />(excluding land value)? $7,632,941.00 <br />What is the proposed property class type established by the <br />Minnesota Department of Revenue for the proposed <br />redevelopment? 1A Residential Homestead <br />What is the expected property class rate(s) based on the <br />most recent existing rates established by the Minnesota <br />Department of Revenue? 1.0% <br />What will the estimated net tax capacity of the proposed <br />improvements be after cleanup and construction (excluding <br />land value)? $76,329.00 <br />For what tax year? 2013 <br />*For project sites with more than one parcel, please enter current tax information for each <br />parcel in a separate Excel worksheet accompanying the application form. If parcels will be <br />combined or re -subdivided, use the projected values for each of the new parcels within the <br />property. For parcels with more than one property classification, please enter the values of <br />each classification separately. <br />16 <br />