Laserfiche WebLink
CURRENT PROPERTY VALUATIONS <br /> Estimated Full Value of Taxable Property, 1997/98 594.493.1 13 ' <br /> 1997/98 <br /> Assessors 1997/98 <br /> Taxable Net Tax <br /> Market Value Ca aci <br /> Real Estate $84,741,200 $1,172,897 <br /> Personal Property 1.165,800 44,682 <br /> Total Valuation $85,907,000 $1,217,579 <br /> Less: Captured Tax Increment Tax Capacity'' - 17,739 <br /> Fiscal Disparities Contribution' - 61,363 <br /> Taxable Net Tax Capacity $1,138,477 <br /> Plus: Fiscal Disparities Distribution 264,897 <br /> Adjusted Taxable Net Tax Capacity $1.403,374 <br /> According to the Minnesota Department of Revenue, the Assessor's Taxable Market Value ( "ATMV ") for the City <br /> of Centerville is about 90.8`!% of the actual selling prices of property most recently sold in the City. That sales ratio <br /> was calculated by comparing the selling prices with the Assessors Taxable Market Value. Dividing the Assessor's <br /> Taxable Market Value of real estate by 0.908 and adding personal property and mobile home ATMV, if any, results <br /> in an "Estimated Full Value of Taxable Property" for the City of $94,493,113. <br /> - The $17,739 tax increment value shown above represents the captured net tax capacity of tax increment financing <br /> districts located in the City of Centerville. Taxes collected on property in the tax increment districts accrue to the <br /> City to pay debt service on outstanding tax increment bonds and/or to reimburse eligible development expenses, <br /> 3 Each community in the seven - county metropolitan area contributes 40% of its new industrial and commercial <br /> valuation to an area pool which is then distributed among the municipalities on the basis of population, special <br /> needs, etc. Each governmental unit makes a contribution and receives a distribution -- sometimes gaining and <br /> sometimes losing net tax capacity for tax purposes. Taxes are spread on the basis of taxable net tax capacity. <br /> 9 <br />