Financial Statements – City of Stillwater, Minnesota

Annual Disclosure of Tax Increment Districts

for the Year Ended December 31, 2015

* The fiscal disparity 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 Districts 6 and 10 are located in the City of Stillwater and do not share its growth in commercial-industrial property tax values. This results in an increase in property taxes for other properties located in the City of Stillwater. For taxes payable in 2015, this increase in taxes on other properties amounted to $11,643 for Tax Increment District 6 and $37,315 for Tax Increment District 10.

Additional Information regarding each district may be obtained from:

Sharon Harrison, Finance Director/Deputy Treasurer

216 North 4th Street

Stillwater, MN 55082

(651) 430-8800

[email protected]

Published in the

Stillwater Gazette

August 12, 2016


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