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I <br /> <br />I <br />I <br />I <br /> <br />Wh~re is TI~ b~in~ used?--In ~ se~n c~unty m~tropoli~an ar~ owr ~431 <br />~n~llion of the tax base fox taxes payable in 1984 is in TIF districts, Which is <br />3.7 percent of the total assessed value of the cities using T~F, bringing in <br />~6.3 million in net tax incr~ent to pay o~f pablic oosts of TIF developmen%. <br />Thus over 82 percent of the tax increment generated in the state occured in the <br />metropolitan region; of that tax incre~ent generated in the metro area, 72 <br />~eroent came from F~r~epin Oounty; and 67 peroent of the tax incr~nent <br />generated in ~]ennepin County came from Mirneapolis. <br /> <br />Tax Increment Property Tax D~ta <br /> Metrc~olitan Oounties 1984 <br /> <br />% Assessed Value <br /> <br />in TIF <br /> <br />% of Total State <br /> <br />Captured Increment <br /> <br />Net TIF Taxes <br />Payable in :84 <br /> <br />I <br />I <br />I <br /> <br />Anoka 1.83 2.7 $ 1,445,247 <br />(2~rver 6.31 1.6 $ 946, 527 <br />Dakota 4.5 4.1 $ 2,342,429 <br />Fm_nnepin 4.14 60.4 $33, 396, 465 <br />Ramsey 2.77 12.4 $ 6,963,219 <br />Scott 7.2 2 $ 1,175, 543 <br />~ashington .42 .08 $ 40, 076 <br /> <br /> Source: ~ Dept. of Bevenue <br /> <br />I <br />I <br />I <br />I <br />i <br />I <br />I <br />I <br />I <br />I <br /> <br />Minneapolis ar~ Saint Paul remain the two cities with the largest amount of <br />assessed value in TIF. <br /> <br />1984 Tax Incr~ent Financi~ Data <br />For Selected Metropolitan Cities <br /> <br />City % Assessed Value in TIF <br /> <br />NetT~Tax~ Pay~le <br /> <br />in 1984 <br /> <br />Bloomington .24 $ 194,514 <br />Chanhassen 13.6 $ 951,916 <br />FRen Prairie 7.2 $ 2,078,531 <br />Edina 1.9 $ 1,043,621 <br />Fridley 1.2 $ 294, 012 <br />Hopkins 7.2 $ 928, 720 <br />Minneapolis 7.3 $22,425,652 <br />Robbinsdale 6.9 $ 559,513 <br />St. Louis Park 2.9 $ 1,169,270 <br />Saint Paul 3.6 $ 6,799,859 <br />Shakopee 7.9 $ 848,680 <br />South Saint Paul 9.3 $ 977,870 <br /> <br />Source: ~ Dept. of Revenue <br /> <br />Cities that had __~3r__e than 10 percent of their total tax base tied up in TIFs <br />for 1984 include.- Ammar~ale, Appleton, Ber~on, Buffalo, Chanhassen, <br />Oott~, Marshall, Princetc~, ~mhfxlrd, Wasa ar~ Watkins. <br /> <br />~k~ is the TIF m~' beir~ .u~ed?--A quick look at tl~ tax increment financed <br />projects around th~ state reveals that about 70 percent of the tax increment <br />districts are fox redeveloping central business districts. The types of <br />redevelop~e_~nt activities financed with TIFs include site clearance, rehab and <br /> <br /> <br />