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• <br /> CITY OF ORONO <br /> ANNUAL DISCLOSURE OF TAX INCREMENT DISTRICTS <br /> FOR THE YEAR ENDED DECEMBER 31,2023 <br /> Tax Increment Financing <br /> TWF District Name: District No.'1-I <br /> Current net in cipaiity, 111,838 <br /> Original net tax capacity 5,250 <br /> Captured net tax capacity 106,588 <br /> Principal and interest payments due during <br /> current year <br /> Tax'increment rioeiied i 81,218 <br /> Tax increment expended, _. 154,566 <br /> Month and year of first tax increment receipt %July 2003 <br /> Date of required 12-31-2028 <br /> Increased propertytax imposed 8n other <br /> properties as'a result of fiscal dispArit ea ;s <br /> 0contribution•`. <br /> *The fiscal disparities property tax law provides that the growth in corn- <br /> mercial-industrial property tax values is shared throughout the area.In <br /> a tax increment financing district,this value sharing can either result in <br /> a decrease in tax increment financing district revenue or a tax increase <br /> for other properties in the municipality depending on whether the tax <br /> increment financing district contributes its share of the growth. <br /> Amounts displayed here indicate that the district did not contribute <br /> its growth in commercial-industrial property tax values and represent <br /> the resulting increase in taxes on other properties in the City for taxes <br /> payable in 2023. <br /> Additional information regarding each district may be obtained from: <br /> Maggie Jin,Finance Director <br /> 2750 Kelley Parkway <br /> Orono,MN 55356 <br /> (952)249-4611 <br /> mjin@oronomn.gov <br /> Published in the <br /> Laker Pioneer <br /> August 10,2024 <br /> 1413194 <br />