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Department of Local Government Finance <br />County Auditor's Certificate of Adjustment to the Based Assessed Valuation of TIF Districts <br />Identify the specific allocation area if more than one allocation area is located in the county. <br />TIF District 104 -South Bend West Washington <br />County Name Saint Joseph <br />Contact Information: Financial Advisor: Crowe Horwath LLP <br />Name: Michael C. Eby, County Auditor Name: Herschel Frierson <br />Address: 227 West Jefferson Boulevard, 2nd Floor Address: 10 West Market Street, Suite 2000 <br />South Bend, Indiana 46601 Indianapolis, Indiana 46204-2975 <br /> <br />Phone: (574) 235-9668 Phone : (317) 269-2377 <br /> <br />1. 2007p2008 Gross Real Estate Valuation' of the allocation area $ 55,397,500 <br />2. 2006p2007 Gross Real Estate Valuation' of the allocation area $ 57,452,625 <br />3. Divide line 1 by line 2 and carry to 5 decimal places <br />4. 2007p2008 Gross Real Estate Valuation` of the county <br />5. 2006p2007 Gross Real Estate Valuation' of the county <br />6. Divide line 4 by line 5 and carry to 5 decimal places <br />0. <br />$ 10,225,208,380 <br />$ 9.974,323,521 <br />1.02515 <br />*Any contested amount of assessed value subject to appeal should not be included in the gross assessed <br />value of real estate. <br />Amounts do not include non-taxable and government exempt property. <br />7. Current net base assessed valuation of the allocation area: <br />8. Lesser of line 3 or line 6 <br />9. Line 8 multiplied by line 7 =tentative new 2007p2008 base assessed value <br />$ 35.449.399 <br />0.96422 <br />$ 34.181,020 <br />Determination of Adequate Potential Captured Assessment <br />(This calculation will be specific to each allocation area within the county.) <br />1 a. Amount of potential captured assessment in 2006p2007. <br />Amount of net assessed value 2006p2007 minus current base NAV $ 7,890,416 <br />2a. Abatement reductions, if any, in pre-reassessment values, scheduled to roll off in p2008 $ 148,233 <br />3a. Real Growth, estimated in net assessed value first assessed for 2007p2008 <br />4a. Total of line 1a plus line 2a =Adjusted Incremental NAV <br />5a. 2006p2007 net tax rate of the TIF district <br />5b. Estimated 2007p2008 tax rate <br />6a. Tax revenue without reassessment line 4a multiplied by line 5a <br />6b. Tax revenue on real growth line 3a multiplied by line 5b <br />6c. Total estimated tax revenue without reassessment line 6a plus line 6b <br />$ 8,038,649 <br />$ 3.9607 <br />$ 3.9607 <br />$ 318,387 <br />$ 88,905 <br />$ 407,292 <br />7a. Amount of adequate potential captured assessment required in 2007p2008. Line 6c divided by <br />2007p2008 net tax rate. This rate will need to be estimated. Do not use a net rate in excess of the <br />2006p2007 tax rate unless you are aware of a large increase in a capital project. <br />Net tax rate used to divide into Line 6c $3.9607 $ 10,283,330 <br />8a. 2007p2008 total net real estate assessed value of the TIF area <br />(no deduction for base assessed value) <br />$ 42,198,500 <br />9a. Less 2007p2008 contested assessed value of the TIF area $ - <br />