At any point during the process of filling out the fields in this tab you can click the "Save & Recalculate"  button to update the calculated totals on respective tabs and to save your progress.


The summary page holds calculations for several fields throughout the MS-1. Clicking Save & Recalculate before and often while completing this section will help show accurate numbers.


General


Enter the First and Last name, and Company of the Assessor. Click the Add Line button to add a Municipal Official to the list. You may add up to 5 Municipal Officials. You must enter at least the First and Last name of the Assessor.


Land


Complete this section by entering the Number of Acres and the Assessed Valuation for each account code from the current year.
Values saved from the previous year will automatically populate and the difference box will calculate the difference between the current year values and previous year values for each account code for the Number of Acres and Assessed Valuation upon clicking "Save & Recalculate". Certain current year values are pulled from other calculated boxes entered already in previous tabs. Review that these are correct, the account code will reveal where these values can be found of the MS-1 interface if they need to be adjusted. 



At any point you may click "Save & Recalculate", and Line 1H - Total of Taxable Land - Will display the sum of all current year and previous year values of the Number of Acres and Assessed Valuation fields above them, respectively.


Buildings


Complete this section by entering the Number of Structures and the Assessed Valuation for each account code from the current year. 

Values saved from the previous year will automatically populate and the difference box will calculate the difference between the current year values and previous year values for each account code for the Number of Structures and Assessed Valuation upon clicking "Save & Recalculate". Certain current year values are pulled from other calculated box entered already in previous tabs. Review that these are correct, the account code will reveal where these values can be found of the MS-1 interface if they need to be adjusted. 

Certain account codes do not have a current and previous year value for the Number of Structures. These accounts will not have text boxes, editable or otherwise, displayed. 



At any point you may click "Save & Recalculate", and Line 2F - Total of Taxable Buildings - Will display the sum of all current year and previous year values of the Assessed Valuation fields above them, respectively.


Utilities & Timber


Complete this section by entering the Assessed Valuation for each account code from the current year. 

Values saved from the previous year will automatically populate and the difference box will calculate the difference between the current year values and previous year values for each account code for the Assessed Valuation upon clicking "Save & Recalculate". Certain current year values are pulled from other calculated box entered already in previous tabs. Review that these are correct, the account code will reveal where these values can be found of the MS-1 interface if they need to be adjusted.


Exemptions


Complete this section by entering the Total Granted Exemptions and the Assessed Valuation for each account code from the current year. 

Values saved from the previous year will automatically populate and the difference box will calculate the difference between the current year values and previous year values for each account code for the Total Granted Exemptions and Assessed Valuation upon clicking "Save & Recalculate".


Optional Exemptions


Complete this section by entering the Amount per Exemption, the Total Granted Exemption, and the Assessed Valuation for each account code from the current year. 

Values saved from the previous year will automatically populate and the difference box will calculate the difference between the current year values and previous year values for each account code for the Amount per Exemption, the Total Granted Exemption and Assessed Valuation upon clicking "Save & Recalculate". Certain current year values are pulled from other calculated box entered already in previous tabs. Review that these are correct, the account code will reveal where these values can be found of the MS-1 interface if they need to be adjusted.  

Certain account codes do not have a current and previous year value for the Amount per Exemption. These accounts will not have text boxes, editable or otherwise, displayed.


Totals


This tab displays the calculated totals of the summary tables, each account code offering a different calculation following the formula's listed in the description. It is not editable and will populate the previous year value and the differences of the current and previous year values. Carefully review this and if inconsistencies occur, follow the formula back to the values in each summary box to adjust.


Line 11
Modified Assessed Value
This line is unchanged from prior years.  The modified assessed value is the total assessed value of a municipality minus some specific exemptions.
The modified assessed value is used to calculate the total equalized valuation for each municipality.
Line 21A
Net Valuation
The total assessed valuation for a municipality minus the value of exemptions.
This figure includes the entire value of the TIF properties both the original assessed values and the captured assessed value whether retained or unretained.
Line 21B
Less TIF Retained Value
The portion of captured assessed value that will be used for the retirement of bonds and/or the operation of the TIF district.
The “unretained” value is the excess captured assessed value which is not used for the retirement of bonds or the operation of the TIF district and is returned to the tax lists.   These monies are not to be deducted on Line 21B.
Line 21C
 
Net Valuation Adjusted to Remove TIF Value
The Net Valuation minus the TIF retained value.  If a municipality is not retaining any value for the retirement of bonds or the operation of the TIF district, Lines 21A and 21C will be the same.
This figure is used to calculate the municipal, county and local school tax rates.
 
Line 22
Less Utilities:  
The assessed value of utilities as reported on Line 3A of this report.
Line 23A
Net Valuation without Utilities Adjusted to Remove TIF Retained Value
The net valuation minus the TIF Retained Value and the utility values
This is the figure that will be used to calculate the state education tax.
 
 
TIF Section
Mosaic System
The TIF section of the MS-1 has been amended to show municipalities the prior year’s TIF figures.
Space has been provided for a municipality to insert any attachments.  The DRA will not be reviewing these attachments as part of the MS-1 process.
 


Notes


This tab tracks notes from the municipality or village district and the state. You may enter notes here that pertain to this year's MS-1 filing. Notes are saved year-to-year and can be reviewed as needed.