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CITY OF CENTERVILLE <br /> ECONOMIC AND FINANCIAL INFORMATION <br /> Valuations <br /> Estimated Net Tax <br /> Market Value Capacity <br /> 1999/2000 1999/2000 <br /> Real Property $129,908,000 $1,742,821 <br /> Personal Property 1,683,000 53,648 <br /> Less Tax Increment District Deduction ( 17,440) <br /> Fiscal Disparities' <br /> (Contribution to Pool) ( 73,384) <br /> Distribution from Pool 290.472 <br /> Total Valuation $ 131,591,000 $1,996,117 <br /> Market Value after Sales Assessment Ratio <br /> The Minnesota Department of Revenue conducts the Real Estate Sales Assessment Ratio Study to ac- <br /> complish equalization of property valuations in the State and to determine the probable selling price of <br /> a property. The Study is a three -year average of sale prices as related to the latest assessor's estimated <br /> market value. The latest Sales Assessment Ratio (1999) in Centerville is 92.1% meaning the County <br /> Auditor's recorded real property market value of $129,908,000 is 92.1% of the probable resale esti- <br /> mated market value. We have made the following computations in deriving the market value figure <br /> used in the "Summary of Debt and Debt Statistics." <br /> $ 129,908,000 County Auditor's recorded real property estimated market value. <br /> 92.1% Latest Composite Ratio from the Real Estate Sales Assessment <br /> Ratio Study of the Minnesota Department of Revenue. <br /> = $ 141,051,031 Indicated market value of real property. <br /> + 1,683,000 Personal property. <br /> _ <br /> $ 142,734,031 Indicated market value of real and personal property used in <br /> " Summary of Debt and Debt Statistics." <br /> Fiscal Disparities Law <br /> The 1971 Legislature enacted a "fiscal disparities law" which allows all the Twin City Metropolitan Area Municipalities to share in <br /> commercial /industrial growth, regardless of where the growth occurred geographically, Forty percent (40 %) of every metropolitan <br /> municipality's growth in commercial /industrial assessed valuation is pooled, then redistributed to all municipalities on the basis of <br /> population and per capita valuation after the tax increment and fiscal disparity adjustments. <br /> -24- <br />