CITY OF NEWPORT 2011 ANNUAL DISCLOSURE STATEMENTNewport 2011 Annual
Newport 2011 Annual
1 Name of Development Authority: Newport
2 Name of Municipality: Newport
The following information represents the annual disclosure of tax increment districts for the year ended December 31, 2011.
3 (Name of the Newspaper) Washington County Bulletin
(Date of Publication) 08/22/2012
Redev Dist 1
4 Current net tax capacity $ 0
5 Original net tax capacity $ 0
6 Captured net tax capacity $ 0
7 Principal and interest payments due in 2012$ 0
8 Tax increment $3,465
received in 2011
9 Tax increment $ 1,121,752
expended in 2011
10 Month and year of 06/1986
first tax increment receipt
11 Date of required decertification
The total increased property $ 0
taxes to be paid from outside
the district if fiscal disparities
Option A applies*
* 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 2011, this increase in taxes on other properties amounted to $0.
Additional information regarding this district may be obtained from:
13 Name: Brian Anderson
14 Address: 596 7th Avenue
15 City: Newport
16 State: MN
17 Zip Code: 55055
18 Phone: (651) 459-5677
Enter as 6512962551.
Note to preparer: Publishing the last line of the table and the two paragraphs following the table is necessary only if a TIF district in the municipality is located in the fiscal disparities area and the municipality chose optio "A" under Minn. Stat. 469.177, subd. 3(a), for the TIF district.