Bruce, two points:
1- If you will reread the section that you quoted you will notice that I did
not say, "tax capacity". I said, "captured tax capacity". That's the
incremental portion of total tax capacity that is captured within TIF
districts.
2- The part of my post that wasn't quoted reminded readers that we were, in
fact, talking about "capacity" not dollars. As I said, "we are
talking about tax capacity, the number to which the local tax rate is
applied to determine the amount of property tax a property owner pays."
The calculation that you cited would be an rough approximation of the
residential EMV (Estimated Market Value).
----- Original Message -----
From: "Bruce Gaarder" <[EMAIL PROTECTED]>
To: "Multiple recipients of list" <[EMAIL PROTECTED]>
Sent: Friday, December 08, 2000 4:25 PM
Subject: TIF decertification
> Maybe I don't understand this, but how can tax capacity for the whole
city,
> as defined by Jack Kryst, be only $54.7 million? Maybe he meant BILLION?
> After all, 1,000 homes at $60,000 would be $60 million (before homestead
> credits). I have to believe that the city receives more than $54 million
> in property tax revenues.
>
> Bruce Gaarder
> Highland Park Saint Paul
> [EMAIL PROTECTED]
>
>
> Jack Kryst wrote:
> >
> > After discussing the really big numbers that describe the City's
estimated
> > market value I suppose the tax capacity numbers seem small. The City's
total
> > captured tax capacity is approximately $54.7 million for tax collected
in
> > 2001. $31 million is a big piece of the total. Keep in mind that we are
> > talking about tax capacity, the number to which the local tax rate is
> > applied to determine the amount of property tax a property own pays.
>
