Resolutions-2018-005

CITY OF TIFFIN, IOWA ECONOMIC AND FINANCIAL INFORMATION1 Valuations2 <table> <tr> <th></th> <th colspan="2">2017 for FY<br>2018/2019</th> <th colspan="2">2017 for FY<br>2018/2019</th> </tr> <tr> <th></th> <th>100% Actual Value</th> <th>Taxable Value (With Rollback)</th> <th>100% Actual Value</th> <th>Taxable Value (With Rollback)</th> </tr> <tr> <td>(As of January 1, 2017)</td> <td></td> <td></td> <td></td> <td></td> </tr> <tr> <td>Residential</td> <td>$ 224,770,704</td> <td>$ 112,947,480</td> <td></td> <td></td> </tr> <tr> <td>Agricultural Land & Building</td> <td>1,553,307</td> <td>845,699</td> <td></td> <td></td> </tr> <tr> <td>Commercial</td> <td>20,565,068</td> <td>17,144,398</td> <td></td> <td></td> </tr> <tr> <td>Railroad</td> <td>361,187</td> <td>325,068</td> <td></td> <td></td> </tr> <tr> <td>Multi-residential</td> <td>8,250,830</td> <td>6,497,534</td> <td></td> <td></td> </tr> <tr> <td>Utilities (with Gas & Electric)</td> <td>15,971,033</td> <td>5,461,106</td> <td></td> <td></td> </tr> <tr> <td>Gross Valuation</td> <td>$ 271,472,129</td> <td>$ 143,221,285</td> <td></td> <td></td> </tr> <tr> <td>Less Military Exemption</td> <td>(127,788)</td> <td>(127,788)</td> <td></td> <td></td> </tr> <tr> <td>Total Valuation</td> <td>$ 271,344,341</td> <td>$ 143,093,497³</td> <td></td> <td></td> </tr> <tr> <td>Add Captured Tax Increment Value</td> <td>$ 40,843,532</td> <td>$ 40,843,532</td> <td></td> <td></td> </tr> <tr> <td>Net Valuation</td> <td>$ 312,187,873</td> <td>$ 183,937,029</td> <td></td> <td></td> </tr> </table> Valuation Trends Valuation Trends over the past ten years have been as follows: <table> <tr> <th rowspan="2">Assessment Year</th> <th rowspan="2">Fiscal Year Tax Levies</th> <th colspan="2">100% Actual Value⁴</th> <th colspan="2">Taxable Valuation (With Rollback)⁵</th> <th colspan="2">Captured Tax Increment Value</th> <th colspan="2">Total Taxable Value</th> </tr> <tr> <th></th> <th></th> <th></th> <th></th> <th></th> <th></th> <th></th> </tr> <tr> <td>2017</td> <td>2018/2019</td> <td>$312,187,873</td> <td>$143,093,497</td> <td>$40,843,532</td> <td></td> <td>$183,937,029</td> <td></td> </tr> <tr> <td>2016</td> <td>2017/2018</td> <td>254,585,107</td> <td>120,190,545</td> <td>31,598,598</td> <td></td> <td>151,789,143</td> <td></td> </tr> <tr> <td>2015</td> <td>2016/2017</td> <td>214,116,222</td> <td>94,736,119</td> <td>30,513,120</td> <td></td> <td>125,249,239</td> <td></td> </tr> <tr> <td>2014</td> <td>2015/2016</td> <td>182,147,177</td> <td>78,922,550</td> <td>28,344,505</td> <td></td> <td>107,267,055</td> <td></td> </tr> <tr> <td>2013</td> <td>2014/2015</td> <td>172,091,925</td> <td>70,936,048</td> <td>30,382,128</td> <td></td> <td>101,318,176</td> <td></td> </tr> <tr> <td>2012</td> <td>2013/2014</td> <td>159,158,990</td> <td>62,058,800</td> <td>30,515,847</td> <td></td> <td>92,574,647</td> <td></td> </tr> <tr> <td>2011</td> <td>2012/2013</td> <td>153,054,527</td> <td>61,072,837</td> <td>26,570,278</td> <td></td> <td>87,643,115</td> <td></td> </tr> <tr> <td>2010</td> <td>2011/2012</td> <td>142,166,993</td> <td>33,986,441</td> <td>44,595,477</td> <td></td> <td>78,581,918</td> <td></td> </tr> <tr> <td>2009</td> <td>2010/2011</td> <td>134,284,447</td> <td>29,753,385</td> <td>43,188,376</td> <td></td> <td>72,941,761</td> <td></td> </tr> <tr> <td>2008</td> <td>2009/2010</td> <td>124,248,922</td> <td>26,647,437</td> <td>40,736,339</td> <td></td> <td>67,383,776</td> <td></td> </tr> </table> 1 Property valuations, tax rates and tax levies and collections are provided by the Iowa Department of Management unless otherwise noted. 2 January 1, 2017 valuations for taxes payable July 1, 2018 to June 30, 2019. Valuations are estimates and are expected to be certified on or about July 1, 2018. 3 The $143,093,497 Taxable Value after rollback and less military exemption is used to compute all tax rates with the exception of debt service and excludes $40,843,532 of captured tax increment value. The Taxable Value of $183,937,029 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.