City – City of Orono

Annual Disclosure of Tax Increment Districts for the Year Ended December 31, 2016

* 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 decrease in tax increment financing district revenue or a tax increase for other properties in the municipality depending on whether the tax increment financing district contributes its share of the growth.

** Amounts displayed here indicate that the district did not contribute its growth in commercial-industrial property tax values and represent the resulting increase in taxes on other properties in the City for taxes payable in 2015.

Additional information regarding each district may be obtained from:

Danielle Amira, Interim Finance Director

PO Box 66 Orono, MN 55323

(952) 249-4611

damira@ci.orono.mn.us

Published in

The Pioneer

August 12, 2017

719552

http://lakerpioneer.com/wp-content/uploads/sites/32/2017/08/719552-1.pdf

Comments Closed