The following is an overview of property taxes, rates, tif and fiscal disparities impacts. This information was presented to City Council during the July 24, 2012 meeting.
Rogers Net Tax Capacity increased by 31.16% between 2007 and 2012. The 2012 figure above does not include tax capacity from the final Hassan annexation, which will come on in 2013. There are significant market value reductions in the years of 2010 and 2011.
The Fiscal Disparities program is mandatory program enacted by the State Legislature in an attempt to address fiscal concerns within the seven‐county Metro area and to equalize tax base by requiring that all communities in the area contribute 40 percent of the growth in their commercial/industrial tax base after 1971 to a regional pool. The tax base is then distributed to cities.
Rogers is, by far, the largest net contributor (net loser) to the pool in terms of the percentage of total tax base lost to the program.
In 2011, Rogers contributed nearly 20% of it's tax base to the pool on a net basis, resulting in a local tax rate that was 34.4% higher than if there were no Fiscal Disparities program.
The Rogers Tax Rate in 2011 was 34.4% higher due to Fiscal Disparities program. The Rogers Tax Rate in 2012 was 21.5% higher due to the Fiscal Disparities program. See the chart below for details:
Rogers previously had a very high percentage of tax capacity in TIF, from the low to mid 20's in any given year. Now the percentage is 1.83% after the expiration of TIF No. 1. Countywide, the number is at 5.31%.