Laserfiche WebLink
CITY PROPERTY TAX PROJECTIONS - <br />Entire Developable Area <br />Built Out (years) <br />% of forecast <br />Valuation Total Taxes <br />City Only <br />16 <br />100% <br />$165.8M I $82.5M <br />$16.7M <br />16 <br />90% <br />$149.2M <br />$70.7M <br />$14.6M <br />16 <br />80% <br />$132.6M <br />$65.8M <br />$13.3M <br />Industrial Park Only <br />Built Out (years) <br />% of forecast <br />Valuation <br />Total Taxes <br />City Only <br />16 <br />100% <br />$86.4M <br />$51.8M <br />$8.7M <br />16 <br />90% <br />$77.7M <br />$46.6M <br />$7.9M <br />16 <br />80% <br />$69.1M <br />$41.4M <br />$6.9M _ <br />based <br />of 2%. <br />building <br />the market <br />build out <br />by staff; and <br />• Tax benefits are displayed in future value terms based on 30 years of tax collections, <br />on 2015 tax rates. Valuations are total cumulative, and include annual inflation <br />Assumes school campus remains tax exempt (not accounted for in this scenario). <br />• 100% build out models are based on 25% industrial building coverage. Max <br />coverage is 45% based on City zoning. Typically, in mature business parks, <br />delivers building coverages ranging between 25%-35%. The 16 year > 100% <br />model outlined in the table above is considered reasonable and conservative <br />should be considered as base projections. <br />• The "City Only" portion of property taxes outlined does not include proceeds from fiscal <br />disparities. About 40% of commercial/ industrial property taxes are placed into the fiscal <br />disparities pool. <br />• Utilizing TIF to pay for costs associated with the future business park would positively <br />affect the cost -benefit analysis for the City (i.e. property tax revenues would be increased <br />by a factor of about 2.5). <br />NON -CITY PROPERTY TAX PROJECTIONS - <br />Entire Developable Area <br />Built Out (years) <br />16 <br />20 <br />% of forecast <br />100% <br />100% <br />County <br />School <br />State <br />Other Fiscal Disparities <br />$14.6M <br />$7.9M <br />$15.8M <br />$2.2M <br />$18.0M <br />$12.8M <br />$6.9M <br />$12.8M <br />$2.0M <br />$14.6M <br />Industrial Park Only <br />Built Out (years) <br />16 <br />20 <br />% of forecast <br />100% <br />100% <br />County <br />$7.7M <br />School <br />$4.1M <br />$7.0M $3.7M <br />State <br />Other <br />$12.5M <br />$1.7M <br />$1M <br />$11.6M <br />Fiscal Disparities <br />$14.2M <br />$13.2M <br />Tax benefits are displayed in future value terms based on 30 years of tax collections, based on 2015 tax rates. <br />Valuations are total cumulative, and include annual inflation of 2%. Assumes school campus remains tax exempt (not <br />accounted for in this scenario). 100% build out models are based on 25% industrial building coverage. Max building <br />coverage is 45% based on City zoning. Typically, in mature business parks, the market delivers building coverages <br />ranging between 25%-35%. <br />Page 6 of 12 <br />