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REASSESSMENT SHOULD BE BORNE BY THE RESPONSIBLE ASSESSING <br />JURISDICITON. <br />E-2 SALES RATIO EQUALIZATION <br />Whereas, taxing units in the seven -county metropolitan area are <br />subject (1) to certain area -wide levies and (2) to Fiscal <br />Disparity allocations, it is necessary to ensure tax equalization <br />among these varicus tax units. In 1984 the legislature authorized <br />the Revenue Department to study new methods of calculating sales <br />ratios by including adjustments for financing, etc. <br />AFTER THE SALES RATIO STUDIES ARE IMPROVED BY INCLUDING ALL <br />FACTORS OF SALES THE LEGISLATURE SHOULD ENACT LEGISLATION WHICH <br />MANDATES AT LEAST A 90% SALES RATIO FOR ALL CITIES WITHIN THE <br />SEVEN-COUNTi METROPOLITAN AREA, THE SALES RATIO SAMPLE TO BE <br />EITHER DONE OR AUDITED BY THE STATE DEPARTMENT OF REVENUE AND <br />REQUIRING THAT THE COMMISSIONER OF REVENUE SHALL M4KE AGGREGATE <br />INCREASE IN THOSE CITIES BELOW 90%. THE SALES RATIO DETERMINATION <br />FOR THESE PURPOSES TO BE MADE 014' THE BASIS OF A 12-MONTH PERIOD <br />SAMPLE, BEGINNING NO MORE THAN 18 MONTHS BEFORE THE ASSESSMENT <br />DATE. <br />THE AMM OBJECTS TO SALES RATIO BEING USED AS A BASIS FOR PENALTY <br />OR BONUS OF STATE AID FUNDS. <br />I-F GENERAL FISCAL IMPACT POLICIES <br />F-1 TAX INCREMENT FINANCING <br />Tax increment financing has permitted many cities in various parts <br />of the state to define and carry out rehabilitation, development, <br />housing, and economic development projects on their own <br />initiative. It represents the most feasible and effective legal <br />strategy which is currently available to cities in preserving and <br />improving the physical ap ,g9tonomic environment in their <br />communities. /, <br />THE AMM BELIEVES THAT PRESENTLY NO SUBSTANTIVE CHANGES ARE <br />NECESSARY AND RECOMMENDS THAT NO SUBSTANTIVE CHANGES BE MADE BY <br />THE LEGISLATURE UNTIL THERE HAS BEEN SUFFICIENT EXPERIENCE TO <br />DETERMINE IF CHANGES ARE NEEDED. <br />F-2 FISCAL NOTES <br />Many laws are passed each year by the legislature which have a <br />substantial effect on the financial viability of cities. Some or <br />these, such as revenue and tax measures, have an obvious any <br />direct effect which is often calculated and reported during the <br />hearing process. However many others, such an worker's <br />compensation benefit increases,, mandated activities, binding <br />