2013 TIF

City of Forest Lake
2013 ANNUAL DISCLOSURE STATEMENT
Forest Lake Economic Development Authority
The following information represents the annual disclosure of tax increment districts for the year ended December 31, 2013:

*The fiscal disparities property tax law provides that the growth in commercial-industrial property tax values is shared throughout the area. In a tax increment financing district, this value sharing can either result in a tax increase for other properties in the municipality or result in a decrease in tax increment financing district revenue depending on how the tax increment financing district is established.
Tax Increment Financing District #15 Everton Park does not share its growth in commercial-industrial property tax values. This results in an increase in property taxes for other properties in this municipality. For taxes payable in 2013, this increase in taxes on other properties amounted to $70,556.
Tax Increment Financing District #21 Legion/Mall does not share its growth in commercial-industrial property tax values. This results in an increase in property taxes for other properties in this municipality. For taxes payable in 2013, this increase in taxes on other properties amounted to $162,446.
Tax Increment Financing District #24 Setterholms does not share its growth in commercial-industrial property tax values. This results in an increase in property taxes for other properties in this municipality. For taxes payable in 2013, this increase in taxes on other properties amounted to $0.
Tax Increment Financing District #1 Industrial Park and Tax Increment Financing District #2 Cherrywood Pointe shares growth in commercial-industrial property tax values.
Additional information regarding each district may be obtained from Ellen Paulseth, City Finance Director, 220 North Lake Street, Forest Lake, MN 55025. (651)464-3550.
Published in the Forest Lake Times June 5, 2014 231562

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