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Mining Tax Guide - Minnesota State Legislature

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166 Cook County 5 1996 2016 $503,465 $2,684,500<br />

316 Greenway 2000 2019 154,516 1,120,000<br />

318 Grand Rapids 1996 2010 475,730 0<br />

381 Lake Superior 2000 2022 391,821 3,574,112<br />

695 Chisholm 2000 2020 297,738 2,462,717<br />

696 Ely 1996 2015 68,686 300,000<br />

701 Hibbing 1996 2011 212,512 204,000<br />

706 Virginia 1996 2016 795,904 2,161,076<br />

712 Mt. Iron-Buhl 1998 2017 325,308 1,900,000<br />

2154 Eveleth-Gilbert 1996 2017 234,916 1,976,000<br />

2711 Mesabi East 1996 2011 60,562 60,000<br />

2711 Mesabi East 2008 2016 500,000 0<br />

Totals:<br />

School districts<br />

Figure 12<br />

Taconite Production <strong>Tax</strong> School Bond Payments<br />

Year authorized 1<br />

Figure 11<br />

Taconite Production <strong>Tax</strong> Distributions to School Districts - 2011<br />

$.0343 $.1572 $.04 School Bldg $.213 <strong>Tax</strong>. Levy<br />

School districts Taconite Regular Taconite Maintenance Taconite Replacement Total<br />

School Fund School Fund Railroad Fund Referendum Shortfall Paymt*<br />

001 Aitkin – $144,173 – – $0 $14,589 $158,762<br />

166 Cook County $21,087 34,328 $264,977 – 0 0 320,392<br />

182 Crosby-Ironton – 164,510 – – 0 15,649 180,159<br />

316 Greenway 33,373 528,737 – $87,511 256,312 65,102 971,035<br />

318 Grand Rapids – 630,768 – – 261,840 43,237 935,845<br />

319 Nashwauk-Keewatin 90,994 178,845 – 40,784 112,834 65,678 489,135<br />

381 Lake Superior 71,496 284,579 342,720 73,637 116,056 38,188 926,676<br />

695 Chisholm – 484,006 – 53,116 206,397 69,014 812,533<br />

696 Ely – 55,256 – – 57,293 14,340 126,889<br />

701 Hibbing 210,360 950,706 – 152,875 563,724 252,503 2,130,168<br />

706 Virginia 74,908 575,814 – 171,976 313,585 94,444 1,230,727<br />

712 Mtn. Iron-Buhl 371,682 333,784 – 76,870 199,470 53,526 1,035,332<br />

2142 St. Louis County 147,484 346,560 284,841 220,786 225,644 32,740 1,258,055<br />

2154 Eveleth-Gilbert 91,495 598,086 – 218,515 326,119 48,208 1,282,423<br />

2711 Mesabi East 183,337 360,594 214,397 121,090 335,469 0 1,214,887<br />

Totals $1,296,216 $5,670,746 $1,106,935 $1,217,160 $2,974,743 $807,218 $13,073,018<br />

*Made from Taconite Property <strong>Tax</strong> Relief Account<br />

Final<br />

payment year2 Payment 3 Outstanding<br />

balance4 19<br />

$4,021,158 $16,442,405<br />

1 Legislative year in which taconite funding was enacted.<br />

2 Production year from which final bond payment will be deducted.<br />

3 Payments made from 2010 pay 2011 tax distribution<br />

4 Estimated portion of outstanding bond balance to be paid by taconite funds (not including interest).<br />

5 All taconite bonds funded at 80 percent taconite, 20 percent local effort, unless otherwise noted: Cook County – 1996, 70 percent<br />

Mesabi East – 2008, $500,000

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