Laserfiche WebLink
TAX GENERATION <br /> <br /> EXHIBIT B <br />FOR LAND USE PLAN - FIGURE 8 <br /> <br />Residential <br /> Total Acreage ................................................................ 789 Acres <br /> Den sity ........................................................................ 3 Homes Per Acre <br /> Total Homes ................................................................ . 2,367 <br /> ~verage New Home Value in 1994 ......... $117,272 <br /> :Tax Capacity Rate for Each Home (72,000 @ 1% > 72,000 @2%)..$1,625.44 <br /> Tax Generation Rate ........................................................ 1.09593 <br /> ~otal Taxes Generated ...................................................... $4,216,499.14 <br /> £ <br /> <br />Mix Residential <br /> ~Total Acreage ................................................................ 265 Acres <br /> Average Dens~ ity ............................................................. 7 Units Per Acre <br /> Total Units ................................................................... 1,855 <br /> !:Value Per Unit (Based on Existing Apartment Building) ............... $38,070.00 <br /> (Total Value ................................................................... $70,619,850.00 <br /> ~Tax Capacity Rate @ 3.4% ................................................ $2,401,074.90 <br /> :Tax Generation Rate ........................................................ 1.09593 <br /> <br /> 5 Total Taxes Generated ...................................................... $2,631,410.02 <br /> <br />Commercial/Industrial <br /> ~ Total Acreage ................................................................ 526 Acres <br /> ~Lot Coverage ................................................................. 35% <br /> ~ Total Square Footage of Building ......................................... 8,019,396 <br /> ~ Value Per Square Foot (manufacturing/warehouse value) .............. $31.46 <br /> } Market Value ................................................................. $252,290, I98.20 <br /> ~ Tax Capacity Rate ........................................................... 4.7% <br /> ~Tax Capacity Value .......................................................... $11,857,639.31 <br /> Tax Generation Rate ........................................................ 1.09593 <br /> <br />Total Taxes Generated ...................................................... $12,995,142.65 <br /> <br />Total Property Taxes Generated By Land Use Plan ....... $19,843,051.81 <br /> <br />City's portion @17% ........................................ $3,373,318.81 <br /> <br />I <br />I: <br />I <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />! <br />I <br />I <br /> <br /> <br />