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City of Pequot Lakes, Minnesota <br /> May 16, 2013 <br /> Page 3 <br /> Urban Impact <br /> Pages 8-10-The annual tax impact to various urban taxing district properties of differing types and values, based on <br /> the above phase-in. <br /> Pages 11-13—The cumulative change for each urban property over the six-year period. <br /> In this example, page 8 shows a residential homestead valued at$200,000 in the urban district currently(2013)pays <br /> $1,372 in City property taxes(school,county,special districts are in addition to this). Under the six-year phase-in, <br /> this is projected to decline to$1,287 in year 1,$1,212 in year 2, until reaching$982 in year 6,the same as a <br /> residential homestead in the rural taxing district in year 6. Page 11 shows that the change on this same$200,000 <br /> residential homestead from 2013 to year 1 is an$85 decrease($1,372 to$1,287)and over the six-year phase-in is a <br /> $390 decrease($1,372 to$982). Or in other words,a$200,000 residential homestead in the urban taxing district will <br /> be paying$390 less in city taxes in year 6 than they are currently paying in 2013. <br /> Public Sector Advisors <br />