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f�l�rk�� <br />Value <br />x <br />�� <br />TAX INCREMENTCALCULATION <br />The Market Value is the value of property as determined by <br />the county assessor each January 2nd. <br />IClass The Class Rate is prescribed by Statute according to the <br />� Rate type and use of the property (i.e. commercial, residential <br />� homestead, residential rental, agricultural). <br />T�x The Tax Capacity is the taxable value of the property and is <br />Capacity determined by multiplying the Market Value by the Class <br />Rate. <br />Estimated <br />Tax Capacity <br />Original <br />Ta� ��p��it� <br />The Estimated Tax Capacity is the tax capacity of property <br />within a TIF District at the time the development or <br />redevelopmentwithin the TIF District is completed. <br />The Original <br />property within <br />created. <br />Tax Capacity is the tax capacity of the <br />a TIF District at the time the TIF District is <br />���t��� The Captured Tax Capacity is the difference between the <br />Tax Capacity Estimated Tax Capacity and the Original Tax Capacity <br />and represents the added value resulting from the <br />development or redevelopment. <br />x <br />I L���I Ta �€ <br />� Rat$ <br />� <br />ra� <br />In��rr�� n <br />The Local Tax Rate is the total tax rates of the city, county, <br />school district(s) and other taxing jurisdictions. <br />The Tax Increment is the result of multiplying the Captured <br />Tax Capacity by the Local Tax Rate and is remitted by the <br />County to the City in July and December of each year. <br />