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Exhibit B <br />Calculations to determine TIF Rebate for a Budget Year <br />Amounts described are for illustrative purposes only and are not <br />amounts for the property subject to this agreement. <br />Taxable Value of Parcel for Budget Year $200,000.00 <br />(Value as January 1 of the previous Year) <br />Less: Taxable Value of Parcel for Base Year $100,000.00 <br />Equals: Taxable Increment $100,000.00 <br />Multiplied by Mill Levy (tax per $1000 of taxable valuation) 85.187 <br />Equals: Property Tax Increment from Property $8,518.70 <br />($100,000 * 85.187 / 1000) <br />Less: Property's portion of Tri-Party Agreement <br />(Assessed Value of Property / Total Assessed Value of Urban Renewal Area * <br />Total Increment collected * Tri-Party Agreement payment percentage) <br />$200,000 / $30,000,000 * $65,000 * 14.3% $61.96 <br />Less: Property's portion of 2023 Cooperation Agreement <br />(Taxable Value of Property / Total Value of Urban Renewal Area * <br />2023 Cooperation Agreement payment for Budget Year) <br />$200,000 / $30,000,000 * $31,000 <br />Less: Property's Portion of LRC Operating Expenses <br />(Taxable Value of Property / Total Value of Urban Renewal Area * <br />LRC Operating Expenses payment for Budget Year) <br />$200,000 / $30,000,000 * $32,000 <br />$206.66 <br />$213.33 <br />Equals: Total Pledged Revenues $8,036.75 <br />Annual payment is 90% of Pledged Revenue calculated. <br />9 <br />