Calculate the 'Base' property tax levy for the Breathtaking @ TuHi development using the property tax formula found here: http://www.douglas.co.us/assessor/property-taxes/property-tax-calculations/.

For the sake of simplicity, we'll assume this development will use the commercial property tax assessment rate of 29%. Make sure you use 29% commercial assessment rate, not the 7.2% residential rate listed in the formula example. Just swap 29% for the 7.2% Plug the mill rates for each taxing entity below into the property tax formula. Then enter the final product for each entity into the 'Base' column. This is your starting property tax assessment on top of which incremental revenues will be calculated. Those revenues will go to pay for debt service to help Silverville Partners construct the project.

Taxing Entity

Property Tax Mill Rate

Breathtaking @ TuHi

Fiscal Year 1 Actual Value

Town of Silverville

17.00

$47,570,871

Silverland County

24.87

Silverville Town School District 58-S

36.64

Calculate the property tax assessment for all three entities for Fiscal Years 1-10. Assume the assessment will grow 3% each year, starting in Fiscal Year 1. So your Fiscal Year 1 assessment values will increase 3% over the Base. This is to account for natural appreciation in property values as the town grows.

Calculate the tax increment for each of the three entities for Fiscal Years 1-10. The increment is the difference between the respective tax assessment for the fiscal year (e.g. Fiscal Year 1) and the Base.

Total all 10 years of property tax assessments and tax increments in the far right column of the table. Then, total the value of the entire tax increment package in the bottom row of the table. Take care not to total the tax assessment and tax increments together when calculating this number.

Entity Town property tax assessment County property tax assessment Base $ Tax increment amount $ - Tax increment amount School District property tax assessment Total $ - Tax increment amount $ - FY1 FY2 $ 47,570,871.00 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - FY3 $ - FY4 $ - FY5 $ - FY6 $ - FY7 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - FY8 $ - FY9 $ - FY10 $ $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - - Total $