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<br />5
<br />
<br />CITY OF RAMSEY
<br />ANNuAL DISCLOSURE OF TAX INCREMENT DISTRICTS
<br />FOR THE YEAR ENDED DECEMBER 31, 2004
<br />
<br /> TIF District 1 TIF District 2 TIF District 4 TIF District 6
<br />TIF District Name: Rivers Bend Gateway Front Street Energy Park
<br />Current Net Tax Capacity $ 701,635 $ 1,396,887 $ 214,421 $ 478,216
<br />Original Net Tax Capacity $ 19,589 $ 160,988 $ 39,712 $ 12,981
<br />Captured Net Tax Capacity $ 682,046 $ 1,235,899 $ 152,084 $ 465,235
<br />Principal and Interest Payments $ 553,336 $ 373,438 $ 0 $ 276,906
<br />due during current year
<br />Tax Increment Received $ 737,655 $ 1,359,298 $ 176,176 $ 505,736
<br />Tax Increment Expended $ 1,441,711 $ 1,278,541 $ 40,661 $ 452,997
<br />Month and Year of First Tax July 1986 July 1988 July 1989 July 1997
<br />Increment Receipt
<br />Date of Required Decertification 12/31/2011 12/31/2012 12/31/2013 09/02/2006
<br />Increased Property Tax Imposed $ 16,267 $ 156,751 $ 22,068 $ 70,845
<br />on Other Properties as a Result
<br />of Fiscal Disparities Contribution*
<br />
<br /> TIF District 7 TIF District 8 TIF District 9 TIF District 10
<br />TIF District Name: B & B., LLC AMCOR ACCAP Sunfish Lake
<br />Current Net Tax Capacity $ 49~954 $ 154,797 $ 44,926 $ 4,939
<br />Original Net Tax Capacity $ 10~122 $ 15,764 $ 2,954 $ 4381
<br />Captured Net Tax Capacity $ 39~832 $ 139~033 $ 41,972 $ 558
<br />Principal and Interest Payments $ 41,998 $ 285,587 $ 0 $ 0
<br />due during current year
<br />Tax Increment Received $ 33,933 $ 161,435 $ 42,291 $ 154,480
<br />Tax Increment Expended $ 23~485 $ 301,457 $ 35,551 $ 54,371
<br />Month and Year of First Tax July 2002 July 2003 July 2004 July 2004
<br />Increment Receipt
<br />Date of Required Decertification 12/31/2015 12/31/2028 12/31/2029 12/31/2011
<br />Increased Property Tax Imposed $ N/A $ 22,067 $ N/A $ N/A
<br />on Other Properties as a Result
<br />of Fiscal Disparities Contribution*
<br />
<br />* The fiscal disparity property tax law provides that the growth in commercial-industrial property tax values is shared
<br />throughout the area. In a tax increment financing district, this value can either result in a tax increase for other properties in
<br />the municipality or result in a decrease in tax increment financing district revenue depending on how the tax increment district
<br />is established.
<br />Tax Increment Financing Districts #1, #2, #4, #6 and #8 located in the City of Ramsey do not share their growth in
<br />commercial- industrial property Rax values because of how they were established. This results in an increase in property
<br />taxes for other properties located in the City of Ramsey. For taxes payable in 2004, this increase on other properties
<br />amounted to $287,998 ($16,267, $156,751, $22,068, $70,845, and $22,067 respectively, for Tax Increment Financing Districts
<br />#1, #2, #4, #6, and #8.)
<br />Additional information regarding each district may be obtained from Sean Sullivan, Economic Development/TIF
<br />Specialist, at 763-433-9829.
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