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The developrgent of the property values in each of the types of usage is based upon the following <br />assumptions: <br /> <br /> · C~mmercial/lndustrial property has a value of $32 per square foot of building space <br /> <br /> · Residentially zoned property is estimated to have a value of $104,000 per unit (three <br /> units per lo0 <br /> <br /> · Mix, ed residential property would have a value of $210,000 per acre ($30,000 per unit <br /> @.~seven units per acre) This would be the f'mished value for the property. <br /> <br />Table E shows the breakdown of the values for properties in the City. These numbers am <br />somewhat sk{wed because they include the entire valuation for all property in the City. The <br />property that i~ located in the study has been double counted as it is difficult to separate it out. In <br />addition, this !would be a static picture with values as of 1994/1995, and does not take into <br />consideration imy inflationary factors or changes in building requirements. <br /> <br /> Table E <br /> Projected Property Value 'Breakdowns <br />With Tiller Property Remaining Residential <br /> <br /> 27-Sep-95 23-Jan-96 <br />, Existing Build-out Value Build-out Value <br />Agriculture ~ 2.42% 1.16% 1.15% <br />Residential ~ 85.29% 64.53% 62.08% <br />Residential Nqn-Homestead 3.09% 2.88% 2.24% <br />Corn mercial/Iddustriaf 7.02 % 30.37 % 33.50 % <br />Public Utiliue~ 0.23% 0.11% 0.11% <br />:Railroad Righ .~of-way 0.12% 0.06% 0.06% <br />Personal Prop4rty 1.82% 0.88% 0.86% <br />Total 100.00% 100.00% 100.00% <br /> <br /> Table F <br /> Projected Property Value Breakdowns <br />With Tiller Property Becoming Commercial/Industrial <br /> <br /> 27-Sep-95 23-Jan-96 <br />[ , <br /> Existing Build-out Value Build-out Value <br />Agriculture ? 2.42% 1.16% 1.13% <br />Residential ~ 85.29% 64.53% 58.73% <br />Residential No~-Homestead 3.09% 2.88% 2.21% <br />Commercial/InduStrial 7.02% 30.37 % 36.91% <br />Public' Utilities ! 0.23 % 0.11% 0.11% <br />Railroad Right~f~w'ay~ 0.12% 0.06% 0.06% <br />Personal Prop~_ty 1.82% 0.88% 0.85% <br />Total ~ 100.00% 100.00% 100.00% <br /> <br /> <br />