Posts Tagged ‘URA’
Publish 12/27/2012, 01/03/2013. TT11743
The Sherwood Urban Renewal Agency (URA) has published the 2011 annual report. It is on file at Sherwood City Hall and with the Sherwood Urban Renewal Agency. The full information is available to all interested persons. In FY 2010/2011, the Sherwood URA received $3,099,859 in tax revenue. The estimated available revenues for FY 2011-12 are $7,295,953. The expenditures for FY 2010-11 and budget for the present fiscal year is shown below.
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The estimated impact of carrying out the urban renewal plan on the tax collections for the preceding year for all taxing districts is shown in the table below.
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The Sherwood School District and the NW Regional Education Service District are not directly affected by the tax increment financing, but the amounts of their taxes divided for the urban renewal plan are shown in the charts. Under current school funding law, property tax revenues are combined with State School Fund revenues to achieve per-student funding targets. Under this system, property taxes foregone because of the use of Tax Increment Financing are replaced, as determined by a funding formula at the State level with State School Fund revenues.
Publish 02/23, 03/01/2012. TT11635