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<br />CITY OF CENTERVll..LE <br /> <br />ECONOMIC AND FINANCIAL INFORMATION <br /> <br />ValoatiODS <br /> <br />Real Property <br />Personal Property <br />Less Tax Increment District Deduction <br />Fiscal Disparities1 <br />(Contribution to Pool) <br />Distribution from Pool <br /> <br />Estimated <br />Market Value <br />2003/2004 <br /> <br />$ 250,385,600 <br />2,111,700 <br /> <br />Net Tax <br />Capacity <br />2003/2004 <br /> <br />$2,550,434 <br />37,483 <br />( 29,689) <br /> <br />( 1ll,342) <br />358.572 <br /> <br />Total Valuation <br /> <br />5 252 497 300 <br /> <br />$2.805.458 <br /> <br />Market Value after Sales Assessment Ratio <br /> <br />The Minnesota Department of Revenue conducts the Real Estate Sales Assessment Ratio Stody to accomplish <br />equalization of property valuations in the State and to determine the probable selling price of a property. The <br />Stody is a three-year average of sale prices as related to the latest assessor's estimated market value. The latest <br />Sales Assessment Ratio (2002) in Centerville is 84.9% meaning the County Auditor's recorded real property <br />market value of $250,385,600 is 84.9% of the probable resale.estimated market value. We have made the <br />following computations in deriving the market value figure used in the "Swnmary of Debt and Debt Statistics." <br /> <br />84.9"10 <br /> <br />County Auditor's recorded real property estimated market value. <br /> <br />Lates! Composite Ratio from the Real Estate Sales Assessment Ratio <br />Stody of the Minnesota Department of Revenue. <br /> <br />$250,385,600 <br /> <br />$294,918,257 <br />2.111.700 <br /> <br />Indicated market value of real property. <br /> <br />+ <br /> <br />Personal property. <br /> <br />5297.029 957 <br /> <br />Indicated market value of real and personal property used in "Summary <br />of Debt and Debt Statistics." <br /> <br />1 FifU"nl Dis~ Law <br />The 1971 Legislalure 0Il8Cted a "fis<aI disparitiea law" which allows all die Twin City Metropolitan Ami Municipa1itiea to share in <br />commerciaIf"mdustriaI growdI, regardless of _ the growth occum:d geogmphically. Forty pen:ent (40%) of every metropolitan <br />municipality's growth in =ialfmdusttial assessed valualioo is pooled, thoo redistributed to all municipa1itiea 00 die basis of <br />populatioo sod per capita va1uation qfter the tax increment sod fiseaI disparity adjustmoots. <br /> <br />-21- <br />