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<br />-31-
<br />
<br />P~llar Tax Lev~ Assessed Valuation Mill Rate
<br />
<br />School District
<br /> (foundatic~ levy )
<br />F~hool District
<br /> (other levy)
<br />Gounty
<br />Metro
<br />
<br /> (without direct tax
<br /> levies for tax-incre-
<br /> ment purposes)
<br />
<br />2,250,000 $ 106,000,000 21.226
<br />613,000 331,000,000 23. 000
<br />
<br />7,869,000 331,000,000 23. 773
<br />
<br />39, 576,000 1,307,000,000 30. 280
<br />5,100,000 5,436,000,000 · 938
<br />
<br />99.217
<br />
<br />Step 2--~alculate special tax-increment levies to raise $503,750. The table
<br />below sh~ws the amount needed is api~tioned amorg the various units of
<br />gove~-~ent in the sam proportio~ as each unit of government '. s mill rate bears
<br />to the total mill rate. ~hat amount then is divided by the assessed valuation
<br />of each unit ar~ a mill rate is calculated to raise the necessary ~. The
<br />result is as if the decision by the city government to levy the taxes for
<br />de~lo~ment/rede~lopment would trigger action by the appropriate tax
<br />administration official to impose the tax-increment levies on the overlapping
<br />units of govex~ent.
<br />
<br />You will note that the tax-increment mill zate for rte foundation levy portion
<br />of the School District is zero. ~he state would m~ke a payment Of this levy
<br />amount, $115,000, to the city as its share of the ~e of the tax-increment
<br />district. In effect, the state is m~kirg such a peyment urger existing law
<br />because keeping the ':c~ptured': ~-dlue out of the total assessed value requires
<br />an increase in state aid to school districts to make t~ for the loss in tax
<br />base.
<br />
<br />Unit Of Go~e~t
<br />
<br />DoLlar Tax Lev~ Assessed Valuation Mill Rate
<br />
<br />School District 115,000* 331,000,000 0.000
<br />(foundation levy)
<br />Sclx~l District 120,690 331,000,000 .365
<br />(other levy)
<br />(k~nty 151,980 1,307,000,000 .116
<br />Metro Agency 4,695 5,436,000,000 .001
<br />Total: 503,750 1.533'
<br />
<br />*As mentiored m, this a _~mt wGuld be peid directly by the state, not
<br />levied on property.
<br />
<br />The total mill rate necessary to raise the $503, 750 is 1.533 mills. When that
<br />amount is added to tT~ other mill rates as det~ in step one, 99.217
<br />mills, the total mill rate is 100.750 mills, which is identical to the mill
<br />rate under existing law. As cmn be seen, too, the mill rates of the ir~ividual
<br />units of go~_rr~ent, when added together in steps o~e ar~ two are identical to
<br />the mill rates under existing law.
<br />
<br />And, of course, the ,~unt raised fro~ the special levies, $503,750, is
<br />identical to tl~ amount raised urger existirg law.
<br />
<br />
<br />
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