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<br /> ---------------.--------- I'l<f-' <br /> ~ <br /> MINNESOTA Department of Revenue <br /> Property Tax Division Mail Station 3340 St. Paul, MN 55146-3340 <br /> Phone (612) 296-3155 Fax (612) 297-2166 <br /> REVISED . <br /> Payable 1999 Overall Levy Limitation Notice August 10, 1998 <br /> RECFI\!EO <br /> ARDEN HILLS CITY OF <br /> CLERK ADMINISTRATOR AUG 11 1998 <br /> CITY HALL (Irl OF ;',r, ': (l'j HillS <br /> 1450 W HIGHWAY 96 <br /> ST PAUL, MN 55112 <br /> The payable 1999 overall levy limitation for your city is: $ 1,923,937" <br /> The following is a listing of the factors used in determining your city's payable 1999 <br /> overall levy limitation, See the enclosed letter for an explanation of these factors and for <br /> additional information concerning your city's overall levy limitation. <br /> I. Adjusted Levy Limit Base for Payable 1998: $ 1,973,259 <br /> 2. Adjustment for Payable 1997 Market Value of New CII Construction <br /> a, Payable 1996 Total Taxable Market Value: $ 467,465,950 <br /> b, Payable 1997 Market Value of New CII Construction: $ 1,292,800 <br /> c, Adjustment (1 + Ratio of (b) to (a)): 1.003 <br /> 3, New Construction Adjusted Payable 1998 Levy Limit Base <br /> (1 x 2c): $ 1,979,179 . <br /> 3, Implicit Price Deflator Adjustment (Mar. 98/Mar, 97): 1.018 <br /> 4, Household Growth Adjustment <br /> a. 1996 Households: 3,016 <br /> b, 1997 Households: 3,029 <br /> c. Ratio of 1997 to 1996 Households (b/a, but not less than <br /> 1.000): 1.004 <br /> 6. Adjustment for Payable 1998 Market Value of New CII Construction <br /> a. Payable 1997 Total Taxable Market Value: $ 477,258,950 <br /> b. Payable 1998 Market Value of New C/I Construction: $ 1,169,520 <br /> c. Adjustment (I + Ratio of (b) to (a)): 1.002 <br /> 7. Adjusted Levy Limit Base for Payable 1999 (3 x 4 x 5c x 6c): $ 2,026,909 <br /> 8. New Net Tax Capacity-Based Referendum Levies: $ <br /> 9. 1999 Property Tax Aids <br /> a. 1999 Certified Local Government Aid (LGA): $ 0 <br /> b, 1999 Certified Homestead and Agricultural Credit Aid <br /> (I'IACA): $ 90,637 <br /> c. 1999 Certified Local Performance Aid (LP A): $ 11,736 <br /> d. 1999 Estimated Taconite Aids: $ <br /> c. 1999 Certified Existing Low Incomc Housing Aid: $ <br /> f. Total (a + b + C + d + e): $ 102,373 <br /> 10. 1998 Tax Rate Excess Tax Increments: $ 599 <br /> 11. Payable 1999 Overall Levy Limitation (7 + 8 - 9f - 10): $ 1,923,937 . <br /> * The change in LGA did not affect your overall levy limitation. <br /> An equal opportunity employer 1TrITDD: (612) 215-0069 <br /> I <br />