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I <br />I <br />I <br />I <br />I <br />I <br /> <br />TAX GENERATION FOR <br /> <br /> EXHIBIT E <br />LAND USE PLAN - City <br /> <br />Council - 4/40 <br /> <br />Residential <br /> Total Acreag6 ................................................................ 781 Acres <br /> Density .....i. .................................................................. 4 Homes Per 40 Acre <br /> Total Homes i ................................................................. 78 <br /> Average NeW Home Value in 1994 .......................................$117,272 <br /> Tax Capaci~ Rate for Each Home (72,000 @ 1% > 72,000 @2%)..$1,625.44 <br /> Tax Generatibn Rate ........................................................ 1.09593 <br /> <br /> Total Taxes Generated ...................................................... $138,946.74 <br /> <br />Mix <br /> <br />Residential <br />Total Acreage ................................................................ 69 Acres <br />Average Dent;ky ............................................................. 1 Unit Per 4.5 Acres <br />Total Units.; ................................................................. 15 <br />Value Per urtit (Based on Existing Apartment Building) ............... $38,070.00 <br />Total Value ................................................................... $571,050.00 <br />Tax Capaci~ Rate @ 3.4% ................................................$19,415.70 <br />Tax GeneratiOn Rate ........................................................ 1.09593 <br /> <br /> Total Taxes Generated ...................................................... $21,278.25 <br /> <br />Commercial/InduStrial <br /> Total Acreage ................................................................ 574 Acres <br /> Value Per A":Cre (manufacturing/warehouse value) ....................... $17,947.60 <br /> Market Value! ................................................................. $10,301,922.40 <br /> Tax Capacity iRate ........................................................... 4.7 % <br /> Tax Capac!ty Value .......................................................... $484,190.35 <br /> Tax Generatibn Rate ........................................................ 1.09593 <br /> <br /> Total Taxes Generated ...................................................... $530,638.73 <br /> Total Property Taxes Generated By Land Use Plan ....... $690,863.72 <br /> City's portion @17% $117 446 83 <br /> <br />/qq <br /> <br /> <br />