Agenda - Council - 02/13/1996 - Laserfiche WebLink

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The development of the property values in each of the types of usage is based upon the following assumptions: · Commercial/Industrial property has a value of $32 per square foot of building space · Residentially zoned property is estimated to have a value of $104,000 per unit (three units per lot) · Mixed residential property would have a value of $210,000 per acre ($30,000 per unit @ seven units per acre) This would be the finished value for the property. Table E shows the breakdown of the values for properties in the City. These numbers are somewhat skewed because they include the entire valuation for all property in the City. The property that is located in the study has been double counted as it is difficult to separate it out. In addition, this would be a static picture with values as of 1994/1995, and does not take into consideration any inflationary factors or changes in building requirements. Table E Projected Property Value Breakdowns With Tiller Property Remaining Residential 27-Sep-95 23-Jan-96 ...... Existing Build-out'Value' Build-out Value Agriculture .... 2.42% ~.16% 1,15% Residential 85.294 64.53% 62.08% '- Residefitial Non-Homestead ' '3.09°~ 2.88% 2.24'% Commercial/Industrial 7.02% 30.37% 33J50% Public Utilities 0.23% 0. i 1% 0.11% ~ailroad Ri~hi-of-waY 0.12% 0.06%" 0.06% ' Personal Prop,.erty 1.82% 0'.88% 0:86% ITotal 100.00% 100.00% Table F Projected Property Value Breakdowns With Tiller Property Becoming Commercial/Industrial ' 27-Sep-95 "23-Jan-96 ..... Existing Build-out Value Build-out Value Agrical. ture 2.42% 1.16% i, 13% Residential 85.29% 64.53% 58.73% Residential Non-Homestead 3.09% 2.88% 2.21% · Commercial/Industrial 7.02% 30.37% 36.91% ' Public Utilities -' 0.23 % 0.11% 0.11% Railroad Right-of-way 0.12% 0.06% 0.06% Personal Proper~y ' 1.82% 0.88% '0.85% Total 100,00% 100.00% 100.00% I I I I I I I I I I I I I I I i I I