I-1 - Preliminary Official Statement - GO Bond 2025

CITY OF TIFFIN, IOWA ECONOMIC AND FINANCIAL INFORMATION 1 Valuations 2 2024 for FY 2024 for FY 2025/2026 2025/2026 100% Actual % Breakdown Taxable Value % Breakdown (As of January 1, 2024) Value of Valuation (With Rollback) of Valuation Residential $ 715,586,210 89.23% $ 313,721,635 88.85% Agricultural Land & Building 661,762 0.08 486,297 0.14 Commercial 43,547,555 5.43 29,973,573 8.49 Railroads 410,126 0.05 365,874 0.10 Utilities (with Gas & Electric) 41,748,889 5.21 8,549,683 2.42 Gross Valuation $ 801,954,542 100.00% $ 353,097,062 100.00% Less Military Exemption ( 1,844,000) ( 1,844,000) Total Valuation $ 800,110,542 $ 351,253,062 3 Add Captured Tax Increment Value $ 118,730,138 $ 112,201,254 Net Valuation $ 918,840,680 $ 463,454,316 Valuation Trends Valuation Trends over the past five years have been as follows: Taxable 100% Valuation Captured Total Assessment Fiscal Year Actual (With Tax Increment Taxable Year Tax Levies Value 4 Rollback) 5 Value Value 2024 2025/2026 $918,840,680 $351,253,062 $112,201,254 $ 463,454,316 2023 2024/2025 800,891,761 310,916,633 78,682,330 389,598,963 2022 2023/2024 604,781,957 270,059,498 67,198,096 337,257,594 2021 2022/2023 541,350,813 245,732,592 59,304,646 305,037,238 2020 2021/2022 456,205,565 210,158,244 56,278,390 266,436,634 1 Property valuations, tax rates and tax levies and collections are provided by the Iowa Department of Management unless otherwise noted. 2 January 1, 2024 valuations for taxes payable July 1, 2025 to June 30, 2026. Valuations are estimates and are expected to be certified on or about July 1, 2025. 3 The Taxable Value after rollback and less military exemption is used to compute all tax rates with the exception of debt service and excludes captured tax increment value. The Net Taxable Value is used to compute the tax rate for debt service. 4 100% Actual Valuations, before rollback, are after military exemption and captured tax increment value adjustments. 5 Taxable Valuations, with rollback, are after the military exemption and before captured tax increment value adjustments. – 22 –