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CITY OF NEWPORT 2012 DISCLOSURE STATEMENT

Friday, August 9, 2013 - 11:20pm

2012 Annual Disclosure Statement
Name of Development Authority: Newport
Name of Municipality: Newport
The following information represents the annual disclosure of tax increment districts for the year ended December 31, 2012.
(Name of the Newspaper) (Date of Publication)
Washington County Bulletin08/15/2013
Current net tax capacity $ 0
Original net tax capacity $ 0
Captured net tax capacity $ 0
Principal and interest payments due in 2013$ 0
Tax increment received in 2012 $ 0
Tax increment expended in 2012$ 10,308
Month and year of first tax increment receipt06/1986
Date of required decertification12/01/2011
The total increased property taxes to be paid from outside
the district if fiscal disparities Option A applies*$ 0
* 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 tax increase for other properties in the municipality or result in a decrease in tax increment financing district revenue depending on how the tax increment financing district is established.
Tax Increment Financing District Redev Dist 1 does not share its growth in commercial-industrial property tax values. This results in an increase in property taxes for other properties in this municipality. For taxes payable in 2012, this increase in taxes on other properties amounted to $0.00.
Additional information regarding this district may be obtained from:
Deb Hill
596 7th Avenue, Newport MN 55055
Phone: (651) 459-5677
Email: dhill@newportmn.com
8/14/2013