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Last modified
7/17/2007 12:31:50 PM
Creation date
12/8/2004 2:48:33 PM
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Template:
Planning Files
Planning Files - Planning File #
3065
Planning Files - Type
Planning-Other
Address
2660 CIVIC CENTER DR
Applicant
CITY OF ROSEVILLE
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<br />value of new retail, office, and industrial development times the respective tax class rates. <br /> <br />3. Personal Property Assessed Value. This is the total Personal Property assessed value for <br />each projection year. Given that the methodology assumes that future personal property <br />assessed value associated with CII growth is limited, this line item remains constant into the <br />future. <br /> <br />4. Total Assessed Value. This is the sum of the first three lines and represents the total assessed <br />value in the City for each projection year. <br /> <br />5. Tax Capacity. Tax Capacity is the taxable value of the property derived by multiplying the <br />assessed value times the class rates for each land use type. The total tax capacity in Roseville <br />in the base (or current) year is $41.1 million This total increases each year based on the <br />future land use projections. As shown in the table, by 2005, the total tax capacity is about <br />$42.6 million. The tax capacity projections use the current class rates and assessed values <br />and does not take into account the possibility of changing class rates regulated by the State <br />which occurs periodically but is an unknown factor. <br /> <br />6. Fiscal Disparities Contribution. This is the tax capacity that is contributed to the areawide <br />fiscal disparities pool by the City, which is ultimately redistributed to all of the participating <br />jurisdictions in the seven county region. It is based on a contribution of 40 percent of the tax <br />capacity growth in its commercial/industrial (CII) property tax base since 1971. The total <br />fiscal disparities contribution for Roseville in the base year is $6.6 million. Additional <br />contributions thereafter are assumed to be 40 percent of the new nonresidential tax capacity <br />based on the projections which adds to the net change in net tax capacity since 1971. It is <br />assumed that all CII TIF development contributes to fiscal disparities. <br /> <br />It is important to note that the fiscal disparities program does not distinguish between new <br />and old property, but rather each year the growth in CII tax capacity since 1971 includes the <br />effects of new construction, inflation, demolition, revaluation, appreciation, and depreciation. <br />Since our approach is a marginal approach based on a snapshot of current levels of service, <br />the effects on the net CII tax capacity from changing values of old properties, inflation, <br />revaluation, etc., is not reflected. Furthermore, these effects are also unknown and cannot be <br />predicted. Our methodology solely assumes the net CII tax capacity increases based on new <br />development: <br /> <br />7. Tax Increments. This is tax capacity in Tax Increment Financing (TIP) districts. It is also <br />subtracted from the total Tax Capacity in order to determine the Net Tax Capacity. <br />Currently, in Roseville the TIF amount is $5.48 million. This value will increase over time <br />for the Concentrated Growth scenario. For the Trends scenario, the value stays constant since <br />no redevelopment is assumed. <br /> <br />8. Net Tax Capacity. The net tax capacity is calculated by subtracting the fiscal disparity <br />contribution tax capacity and the TIF district tax capacity from the total citywide tax capacity. <br />This value is then divided into the adjusted levy (total local tax revenues received by the city) <br /> <br />Page 37 <br /> <br />Tischler & Associates, Inc. <br />
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