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Measure 5 limits for those properties. State law says that local option levy proceeds are the <br />first to be reduced in the event of compression. <br /> <br />Table11EstimatedRevenuewithoutDowntownDistrict <br />FY20TaxData, AFTERDiscounts,Delinquencies,&StateSchoolFundingFormula <br />TaxingDistrict <br />permanentrate $20,000 <br />localoption (295,000) <br />Lane Community College * 95,000 <br />Lane Education Service District * 35,000 <br />TotalEducation($145,000) <br />permanentrate $1,225,000 <br />Librarylocaloption 0 <br />Parks&Reclocaloption 0 <br />Lane County permanentrate 220,000 <br />Lane County 4H/Extensionlocaloption 0 <br />PublicSafetylocaloption 0 <br />Eugene Urban Renewal Downtown (2,430,000) <br />Eugene Urban Renewal Riverfront 0 <br />TotalGeneralGovernment($985,000) <br />City of Eugene BondI $5,000 <br />City of Eugene BondII 0 <br />Eugene School District 4J BondII 0 <br />Lane Community College BondII 0 <br />TotalBonds$5,000 <br />TOTALTAXES($1,125,000) <br />* The other school districts that overlap with the Downtown District would experience <br />similar impacts to 4J for the school funding formula (described below), although the <br />specific financial consequences are not calculated in this Report. <br />In order to understand the Lane County Tax 4J impact, there are <br />three factors to consider: <br /> <br />1. levy would increase by approximately $787,000, for a <br />net gain of approximately $20,000 after applying the State school funding formula. <br />(4J receives approximately 3% of the total State-wide funding.) This is the best-case <br />scenario that assumes all else is equal, and the State decides to provide more <br />funding for schools as a result of having more property tax revenue available. <br />2. 4J will lose about $295,000 of local option levy proceeds (after discounts and <br />delinquencies) if the Downtown District no longer collects tax increment funds <br />because of compression. The State funding formula does not apply to local option <br />levies, so the full impact of this reduction wo <br />estimates are based on FY20 tax roll information and would vary in future years <br />with changes in market conditions. <br /> <br />ReportontheProposed2020Amendment 22 <br /> <br />