2019 ANNUAL DISCLOSURE STATEMENT
Name of Development Authority: Bluff Country HRA
Name of Municipality: Spring Grove
Fillmore County Journal 8/10/2020
(Name of the Newspaper) (Date of Publication)
The following information represents the annual disclosure of tax increment districts for the year ended December 31, 2019.
TIF 1-1 Four Season Acres Hsg
Current net tax capacity $18,745
Original net tax capacity $83
Captured net tax capacity $18,662
Principal and interest payments due in 2020 $11,018
Tax increment received in 2019 $20,444
Tax increment expended in 2019 $18,847
Month and year of first tax increment receipt 7/2007
Date of required decertification 12/31/2032
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 throught 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 int he City for taxes payable in 2019.
Additional information regarding this district may be obtained from:
Cindy Vitse
204 South Elm Street PO Box 549
Rushford MN 55971
(507) 864-7741
cindyvitse@semcac.org
Publish 8/10