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43 <br />44 <br />45 <br />4b <br />47 <br />�8 <br />49 <br />SQ <br />5� <br />52 <br />53 <br />54 <br />55 <br />56 <br />57 <br />SS <br />59 <br />�a <br />61 <br />G2 <br />63 <br />64 <br />65 <br />66 <br />G7 <br />68 <br />69 <br />70 <br />71 <br />72 <br />73 <br />74 <br />Taxpayer �mpaets <br />If t�e City wexe ta e�ctend the TIF District, t�ae captured ta� base war�id be unavailable to help <br />sho�lder the local tax burden for an additional 2 years. We can assess this inrzpact by sim:ply <br />adding in the Centre Pointe TTF Disirict iax base to tl�e current local tax rate caIculaiion. This is <br />shown belovv. <br />Current net tax capacity <br />Centre Pointe tax capacily <br />�at�.� <br />Net praperty tax levy <br />Lacal tax rate <br />Taxes o�� a $235,Q4Q Horrre <br />$$ Difference <br />% Difference <br />Active T1F Distriet Closed TIF Distriai <br />4�,500,430� 4�,500,000 <br />- �,�no,000 <br />a�,soa,aoo 4s,�oo,000 <br />10,129,3 G0 <br />22,76% <br />535 <br />n/a <br />n/a <br />10,129,360 <br />22.12% <br />S2Q <br />IS <br />2.8% <br />As is indicated in the table, once tl�� Centre Poinie TI�' District is closed, an averaged-val�ed <br />�aorne in Roseville will realize a tax r�ductian of approximately $15 annuaIly in C� taxes or <br />appraxiz�aately $50 on their total tax bill (holding all o�er factors constant). <br />Discu�sion I�ems <br />In deterrr�ining vvhether io exterzd the District it's impo�ant to keep in minci that this ta� reIief is <br />cazni�g either way. The anly difference is wheti�er it comes in 2008 or 2010. Over the <br />additiona� two years, the o�ze-tirne dif%rence to individ�al homeownc�rs is $100. <br />From a Twin LaIces environnr��ntal cleanup perspec�ive, the decision can be framed up as <br />�o��a�s: <br />Slioulc� tlie Ciiy allotiv the District to eCrrse us schetluled tlie�eby praviding $100 in <br />relief ta individual liomeo�vn��s? <br />or---------- <br />Slzould tlze City extend tlae Drstrict for r�n additianal 2 years ta capture ove� �R3 <br />millian fo� environmental cCeanup in Twin lakes? <br />Certainly this decision raise� publie palicy questions on the m�rits of individual tax incremer�t <br />districts and how �hey contribuie ta the City's overall success. T�ese policy questions may r�ot <br />necessarily he limited to environmental issues in Twin Lalces. <br />Fina[ Cornmen�s <br />Staff will be available at the CounciI �neeting far any q�estinns. <br />� <br />