Common use of Moffat County Property Tax Revenue Forecast Clause in Contracts

Moffat County Property Tax Revenue Forecast. ‌ The forecast of future property tax revenues was calculated using a spreadsheet. For purposes of clarity, information from the spreadsheet has been excerpted and is presented in the more concise tables and narrative included in this report. Tables 15 and 16 summarize total property taxes collected, existing property taxes (referred to as the “Base”), and projected future property taxes due to urban renewal activity (referred to as the “Increment”). Table 15 summarizes the short-term period (eight years) of the project (2021-2028), which covers the period of construction through project stabilization. The complete spreadsheet for the property tax analysis is included as Exhibit A. Table 15: Short-Term Moffat County Property Tax Revenue (2021-2028)‌ 2021 2022 2023 2024 2025 2026 2027 2028 Property Taxes (Total) $ 141,757 $ 143,175 $ 165,709 $ 167,366 $ 182,933 $ 210,969 $ 217,588 $ 219,764 Property Tax (Base) $ 141,757 $ 143,175 $ 144,607 $ 146,053 $ 147,513 $ 148,988 $ 150,478 $ 151,983 Net Property Tax Revenues (Increment) $ - $ - $ 21,103 $ 21,314 $ 35,419 $ 61,980 $ 67,110 $ 67,781 Source: Moffat County Assessor parcel data and GIS Note: 2021 payable, 2020 levy year Table 16 summarizes the cumulative County property tax revenue in five-year increments 2020-2045 (25-year analysis period). Table 16: Cumulative Moffat County Property Tax Revenue (2020-2045)‌ 2021 2020-2025 0000-0000 0000-2035 2021-2040 2020-2045 Property Taxes (Total) $ 141,757 $ 941,295 $ 2,035,759 $ 3,190,745 $ 4,404,646 $ 5,680,469 Property Taxes (Base) $ 141,757 $ 863,459 $ 1,623,450 $ 2,422,208 $ 3,261,711 $ 4,144,037 Net Property Tax Revenues (Increment) $ 77,835 $ 412,309 $ 768,536 $ 1,142,935 $ 1,536,432 Source: Moffat County Assessor parcel data and GIS Note: 2021 payable, 2020 levy year If all of the County portion of the incremental property taxes were allocated to the Authority during this period, the County would experience a fiscal impact of $21,103/year in 2023 (the first year of development-induced revenues), growing to approximately $80,273/year in 2045 (the end of the 25-year tax increment financing period), resulting from the inclusion of the developed parcels in the proposed Urban Renewal Area and after accounting for the Base. The total property tax allocated to the Authority by the County during this period would be approximately $1,536,432.

Moffat County Property Tax Revenue Forecast. ‌ The forecast of future property tax revenues was calculated using a spreadsheet. For purposes of clarity, information from the spreadsheet has been excerpted and is presented in the more concise tables and narrative included in this report. Tables 15 and 16 summarize total property taxes collected, existing property taxes (referred to as the “Base”), and projected future property taxes due to urban renewal activity (referred to as the “Increment”). Table 15 summarizes the short-term period (eight years) of the project (2021-2028), which covers the period of construction through project stabilization. The complete spreadsheet for the property tax analysis is included as Exhibit A. Table 15: Short-Term Moffat County Property Tax Revenue (2021-2028)‌ 2021 2022 2023 2024 2025 2026 2027 2028 Property Taxes (Total) $ 141,757 $ 143,175 $ 165,709 $ 167,366 $ 182,933 $ 210,969 $ 217,588 $ 219,764 Property Tax (Base) $ 141,757 $ 143,175 $ 144,607 $ 146,053 $ 147,513 $ 148,988 $ 150,478 $ 151,983 Net Property Tax Revenues (Increment) $ - $ - $ 21,103 $ 21,314 $ 35,419 $ 61,980 $ 67,110 $ 67,781 Source: Moffat County Assessor parcel data and GIS Note: 2021 payable, 2020 levy year Table 16 summarizes the cumulative County property tax revenue in five-year increments 2020-2045 (25-year analysis period). Table 16: Cumulative Moffat County Property Tax Revenue (2020-2045)‌ 2021 2020-2025 00002020-0000 00002030 2020-2035 2021-2040 2020-2045 Property Taxes (Total) $ 141,757 $ 941,295 $ 2,035,759 $ 3,190,745 $ 4,404,646 $ 5,680,469 Property Taxes (Base) $ 141,757 $ 863,459 $ 1,623,450 $ 2,422,208 $ 3,261,711 $ 4,144,037 Net Property Tax Revenues (Increment) $ 77,835 $ 412,309 $ 768,536 $ 1,142,935 $ 1,536,432 Source: Moffat County Assessor parcel data and GIS Note: 2021 payable, 2020 levy year If all of the County portion of the incremental property taxes were allocated to the Authority during this period, the County would experience a fiscal impact of $21,103/year in 2023 (the first year of development-induced revenues), growing to approximately $80,273/year in 2045 (the end of the 25-year tax increment financing period), resulting from the inclusion of the developed parcels in the proposed Urban Renewal Area and after accounting for the Base. The total property tax allocated to the Authority by the County during this period would be approximately $1,536,432.

Moffat County Property Tax Revenue Forecast. ‌ The forecast of future property tax revenues was calculated using a spreadsheet. For purposes of clarity, information from the spreadsheet has been excerpted and is presented in the more concise tables and narrative included in this report. Tables 15 8 and 16 9 summarize total property taxes collected, existing property taxes (referred to as the “Base”), and projected future property taxes due to urban renewal activity (referred to as the “Increment”). Table 15 8 summarizes the short-term period (eight years) of the project (2021-2028), which covers the period of construction through project stabilization. The complete spreadsheet for the property tax analysis is included as Exhibit A. Table 153: Short-Term Moffat County Property Tax Revenue (2021-2028)‌ 2021 2022 2023 2024 2025 2026 2027 2028 Property Taxes (Total) $ 141,757 64,326 $ 143,175 64,969 $ 165,709 65,618 $ 167,366 79,026 $ 182,933 92,696 $ 210,969 114,064 $ 217,588 115,205 $ 219,764 122,044 Property Tax (Base) $ 141,757 64,326 $ 143,175 64,969 $ 144,607 65,618 $ 146,053 66,275 $ 147,513 66,937 $ 148,988 67,607 $ 150,478 68,283 $ 151,983 68,966 Net Property Tax Revenues (Increment) $ - $ - $ 21,103 - $ 21,314 12,752 $ 35,419 25,758 $ 61,980 46,457 $ 67,110 46,922 $ 67,781 53,078 Source: Moffat County Assessor parcel data and GIS Note: 2021 payable, 2020 levy year Table 16 9 summarizes the cumulative County property tax revenue in five-year increments 2020-2045 (25-year analysis period). Table 16: Cumulative Moffat County Property Tax Revenue (2020-2045)‌ 2021 2020-2025 0000-0000 0000-2035 2021-2040 2020-2045 Property Taxes (Total) $ 141,757 $ 941,295 $ 2,035,759 $ 3,190,745 $ 4,404,646 $ 5,680,469 Property Taxes (Base) $ 141,757 $ 863,459 $ 1,623,450 $ 2,422,208 $ 3,261,711 $ 4,144,037 Net Property Tax Revenues (Increment) $ 77,835 $ 412,309 $ 768,536 $ 1,142,935 $ 1,536,432 Source: Moffat County Assessor parcel data and GIS Note: 2021 payable, 2020 levy year If all of the County portion of the incremental property taxes were allocated to the Authority during this period, the County would experience a fiscal impact of $21,103/year in 2023 (the first year of development-induced revenues), growing to approximately $80,273/year in 2045 (the end of the 25-year tax increment financing period), resulting from the inclusion of the developed parcels in the proposed Urban Renewal Area and after accounting for the Base. The total property tax allocated to the Authority by the County during this period would be approximately $1,536,432.

Moffat County Property Tax Revenue Forecast. ‌ The forecast of future property tax revenues was calculated using a spreadsheet. For purposes of clarity, information from the spreadsheet has been excerpted and is presented in the more concise tables and narrative included in this report. Tables 15 8 and 16 9 summarize total property taxes collected, existing property taxes (referred to as the “Base”), and projected future property taxes due to urban renewal activity (referred to as the “Increment”). Table 15 8 summarizes the short-term period (eight years) of the project (2021-2028), which covers the period of construction through project stabilization. The complete spreadsheet for the property tax analysis is included as Exhibit A. Table 153: Short-Term Moffat County Property Tax Revenue (2021-2028)‌ 2021 2022 2023 2024 2025 2026 2027 2028 Property Taxes (Total) $ 141,757 64,326 $ 143,175 64,969 $ 165,709 65,618 $ 167,366 79,026 $ 182,933 92,696 $ 210,969 114,064 $ 217,588 115,205 $ 219,764 122,044 Property Tax (Base) $ 141,757 64,326 $ 143,175 64,969 $ 144,607 65,618 $ 146,053 66,275 $ 147,513 66,937 $ 148,988 67,607 $ 150,478 68,283 $ 151,983 68,966 Net Property Tax Revenues (Increment) $ - $ - $ 21,103 - $ 21,314 12,752 $ 35,419 25,758 $ 61,980 46,457 $ 67,110 46,922 $ 67,781 53,078 Source: Moffat County Assessor parcel data and GIS Note: 2021 payable, 2020 levy year Table 16 9 summarizes the cumulative County property tax revenue in five-year increments 2020-2045 (25-year analysis period). Table 164: Cumulative Moffat County Property Tax Revenue (2020-2045)‌ 2021 2020-2025 00002020-0000 00002030 2020-2035 2021-2040 2020-2045 Property Taxes (Total) $ 141,757 64,326 $ 941,295 430,324 $ 2,035,759 1,040,941 $ 3,190,745 1,712,237 $ 4,404,646 2,417,777 $ 5,680,469 3,159,305 Property Taxes (Base) $ 141,757 64,326 $ 863,459 391,813 $ 1,623,450 736,676 $ 2,422,208 1,099,130 $ 3,261,711 1,480,072 $ 4,144,037 1,880,447 Net Property Tax Revenues (Increment) $ 77,835 38,510 $ 412,309 304,265 $ 768,536 613,108 $ 1,142,935 937,704 $ 1,536,432 1,278,859 Source: Moffat County Assessor parcel data and GIS Note: 2021 payable, 2020 levy year If all of the County portion of the incremental property taxes were allocated to the Authority during this period, the County would experience a fiscal impact of $21,10312,752/year in 2023 2024 (the first year of development-development- induced revenues), growing to approximately $80,27369,595/year in 2045 (the end of the 25-year tax increment financing period), resulting from the inclusion of the developed parcels in the proposed Urban Renewal Area and after accounting for the Base. The total property tax allocated to the Authority by the County during this period would be approximately $1,536,4321,278,859.