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<br />The City has also estimated the tax generation for both of the proposed land use plans and they are <br />attached as Exhibits A and B. These projections are based upon the current tax capacity rates and <br />the City's current taxing rate. They do not take into account the creation of additional tax increment <br />financing (TIF) districts or the effects of any construction in an existing TIP districts. <br /> <br />Listed below are the property types and valuations for the City. These figures are based upon the <br />assessed 1994/payable 1995 taxes. <br /> <br />Land Type <br />Agriculture <br />Residential Homestead <br />Residential Non-Homestead <br />CommerciaVIndustrial <br />Public Utilities <br />Railroad Right-of-way <br />Personal Property <br />Total Valuation <br /> <br />Valuati~m <br /> <br />$12,081,400 <br />425,709,700 <br />15,434,700 <br />35,046,200 <br />1,164,000 <br />603,100 <br />9.091.900 <br />$499,131,000 <br /> <br />Using these total figures, the City currently has 7 percent of its total land value in <br />commerciaVindustrial property. This is down from previous years when the ratio was at 9:1 (10 <br />percent) for residential to commerciaVindustrial. This may be due to the large number of single <br />family homes that have been constructed over the last couple of years. <br />