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<br />D00K
<br />TABES COLLECTED WITH THE PROPOSED TAX ABATEMENT
<br />98 PAGE .)5
<br />OTAL TAXES COLLECTED WITHOUT ABATEMENT
<br />LENGTH OF TIME
<br />1 2 3 4 5 6 7 8 9 10 otal
<br />$ 19,510
<br />TOTAL TAXES COLLECTED ON DEVELOPED LAND
<br />nd Value
<br />$1,000,000 (caval d)
<br />illage Rate:
<br />TAXES PAID ON DEVELOPED LAND (taxes on land cannot be abated)
<br />- General Fund
<br />4.2999
<br />$4,300
<br />$4,300
<br />$4,300
<br />4,300
<br />4,300
<br />$4,300
<br />$4,300
<br />$4,300
<br />$4,300
<br />4,300
<br />$43,000
<br />- 14M
<br />1.6236
<br />$1,624
<br />$1,264
<br />$1,624
<br />1,624
<br />1,624
<br />$1,624
<br />$1,624
<br />1,624
<br />$1,624
<br />1,624
<br />$16,290
<br />' ESD
<br />2.3129
<br />$2,313
<br />$2,313
<br />2,313
<br />2,313
<br />2,313
<br />$2,313
<br />$2,313
<br />$2,313
<br />$2,313
<br />2,313
<br />$23,130
<br />- Miac Taxing
<br />Authority
<br />$11,279
<br />$11,279
<br />$11,279
<br />11,279
<br />11,279
<br />$11,279
<br />$11,279
<br />$11,279
<br />$11,279
<br />11,279
<br />$112,790
<br />11.2793
<br />Total Taxes
<br />Paid on
<br />$19,516
<br />19,516
<br />$19,516
<br />19,516
<br />19,516
<br />$19,516
<br />$19,516
<br />$19,516
<br />$19,516
<br />191516
<br />$195,160
<br />eveloped Land
<br />Improvements Value
<br />1,000,000
<br />Abatement
<br />1001 1001 100= 1001: 001: % 160% Lot 20% 0}
<br />illage Rate
<br />TAXES PAID ON IMPROVEMENTS WITH TAX ABATEMENT
<br />- General Fund
<br />42
<br />.999
<br />0
<br />0
<br />0
<br />0
<br />$860
<br />$1,720
<br />$2,580
<br />$3,440
<br />4,300
<br />$12,900
<br />- MSTU
<br />6
<br />0
<br />0
<br />0
<br />0
<br />$325
<br />S650
<br />975
<br />$1,300
<br />1,624
<br />$4,874
<br />0
<br />0
<br />0
<br />0
<br />0
<br />$462
<br />$925
<br />$1,387
<br />$1,850
<br />2,313
<br />$6,937
<br />Taxing
<br />rity93Taxes
<br />$11,279
<br />$11,279
<br />11,279
<br />11,279
<br />11,279
<br />11,279
<br />$11,279
<br />$11,279
<br />$11,279
<br />11,279
<br />$112,790
<br />nementsAbated
<br />L
<br />$11,279
<br />$11,279
<br />011,279
<br />11,279
<br />11,279
<br />$12,926
<br />$14,574
<br />$16,221
<br />$17,869
<br />$19,516
<br />$137,501
<br />$8,237
<br />$8,237
<br />$8,237
<br />8,237
<br />8,237
<br />6,590
<br />$4,942
<br />S3, 295
<br />$1,647
<br />$0
<br />$57,659
<br />xes $30,795
<br />$30,795
<br />$30,795
<br />30,795
<br />30,795
<br />32,442
<br />$34,090
<br />$35,737
<br />$37,385
<br />39,032
<br />$332,661
<br />OTAL TAXES COLLECTED WITHOUT ABATEMENT
<br />AND WITH AGRICULTURE EXEMPTION: (10 Years)
<br />$ 19,510
<br />TOTAL TAXES COLLECTED ON DEVELOPED LAND
<br />,
<br />AND IMPROVEMENTS WITHOUT ABATEMENT: (10 years)
<br />TOTAL TAXES COLLECTED ON DEVELOPED LAND
<br />$390,320
<br />AND IMPROVEMENTS WITH ABATEMENT: (10 Years)
<br />$332,661
<br />PERCENT OF TAXES THAT ARE ABATED:
<br />14.77
<br />In this example, the amount of taxes abated with a 1000 exemption
<br />over the first 5 years, and a 20 percentage point per year
<br />reduction over the next 5 years would be $57,659, or 14.77 percent
<br />of the total taxes due without an exemption. This 14.77 percent
<br />will be lost revenue that the county would have collected if the
<br />industry had chosen to locate in the county -without receiving any
<br />tax exemption. Conversely, the entire amount of taxes, both
<br />collected and abated, may be dollars that would not have come to
<br />the county without the tax abatement incentive.
<br />At this point, information is not available to estimate the number
<br />of new businesses that would.be attracted to the county because of
<br />the provision of tax abatements. Other counties surveyed also did
<br />not have this information available.
<br />May 14, 1996
<br />30
<br />F-�
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