Form Ms-1 - Summary Inventory Of Valuation - New Hampshire Department Of Revenue Administration - 2007 Page 14

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FORM
NEW HAMPSHIRE DEPARTMENT OF REVENUE ADMINISTRATION
2007
SUMMARY INVENTORY OF VALUATION
MS-1
INSTRUCTIONS
Instructions
See the following scenarios to determine which amounts will be used for equalization and for setting tax rates.
SCENARIO 1 - ALL RETAINED
All retained for bond/operations and development RSA 162-K:10, III (a)(1)
Equalization = Current Assessed Value Used ($100,000)
Current Assessed Value
$100,000
Original Assessed Value
($ 40,000)
Captured Assessed Value
$ 60,000
Tax Rate (page 2) = Current Assessed Value less Full Retained Captured
Captured Assessed Value
$ 60,000
Retained to Pay Bonds
($ 30,000)
Assessed Value ($100,000 - $60,000). (Assessors apply rate to current
assessed value $100,000).
Retained for Operations & Maintenance
($ 30,000)
Unretained (shared)
$
0
SCENARIO 2 - SOME UNRETAINED
Some not retained for bond/operations and development RSA 162-K:10, III (a)(2)
Current Assessed Value
$100,000
Equalization = Current Assessed Value Used ($100,000)
Original Assessed Value
($ 40,000)
Captured Assessed Value
$ 60,000
Tax Rate (page 2) = Current Assessed Value less Retained Captured
Capture Assessed Value
$ 60,000
Assessed Value ($100,000 - $50,000). (Assessors apply rate to current
Retained to Pay Bonds
($ 30,000)
assessed value $100,000).
Retained for Operations & Maintenance
($ 20,000)
Unretained (shared)
$ 10,000
SCENARIO 3 - GRANDFATHERED (prior to 4/29/99) ALL RETAINED
All retained for bond/operations and development RSA 162-K:10, III (b)(1)
Equalization = Original Assessed Value ($40,000, same as tax rate)
Current Assessed Value
$100,000
Original Assessed Value
($ 40,000)
Captured Assessed Value
$ 60,000
Tax Rate (page 2) = Original Assessed Value ($40,000 and then apply tax
Capture Assessed Value
$ 60,000
Retained to Pay Bonds
($ 30,000)
rates to higher current assessed value of $100,000)
Retained for Operations & Maintenance
($ 30,000)
Unretained (shared)
$
0
SCENARIO 4 - GRANDFATHERED (prior to 4/29/99) SOME UNRETAINED
Some not retained for bond/operations and development RSA 162-K:10, III (b)(2)
Equalization = Original Assessed Value plus Unretained Captured
Current Assessed Value
$100,000
Assessed Value ($40,000 + $10,000 and then apply tax rates to the total
Original Assessed Value
($ 40,000)
current assessed value of $100,000).
Captured Assessed Value
$ 60,000
Capture Assessed Value
$ 60,000
Tax Rate (page 2) = Original Assessed Value plus Unretained Captured
Assessed Value ($40,000 + $10,000 and then apply tax rates to the total
Retained to Pay Bonds
($ 30,000)
Retained for Operations & Maintenance
($ 20,000)
current assessed value of $100,000).
Unretained (shared)
$ 10,000
- EXAMPLES -
The amounts shown in bold will be used for equalization purposes.
TIF # 1
TIF # 2
TIF #3
TIF #4
Tax Increment Financing Districts
RSA 162-K
Scenario 1
Scenario 2
Scenario 3
Scenario 4
(Grandfathered)
(Grandfathered)
Date of Adoption
6/1/00
3/15/00
1/13/97
1/30/98
Original Assessed Value
$ 40,000
$ 40,000
$40,000
$40,000
+ Unretained Captured Assessed Value
$ 0
$ 10,000
$ 0
$10,000
= Amount used must be included on page 2 (tax rates)
$ 40,000
$ 50,000
$40,000
$50,000
+ Retained Captured Assessed Value
$ 60,000
$ 50,000
$60,000
$50,000
Current Assessed Value
$100,000
$100,000
$100,000
$100,000
MS-1
Instructions
Rev. 7/17/07
14

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