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<br />EXHmlT E <br />T AX GENERATION FOR LAND USE PLAN . City Council . 4/40 <br /> <br />Residential <br /> <br /> <br />Total Acreage ............................................ .................. ..781 Acres <br /> <br />Density.. .... ....... .... ........... ... ........... .... .... ....... .... ... ........4 Homes Per 40 Acre <br /> <br />Total Homes ............ ........................................ ... ...... ................ ..78 <br /> <br />Average New Home Value in 1994................................. ..... .$117,272 <br />Tax Capacity Rate for Each Home (72,000 @ 1% > 72,000 @2%)..$1,625.44 <br /> <br /> <br />Tax Generation Rate ...................................................... ..1.09593 <br /> <br /> <br />Total Taxes Generated......... ............ .............. .......... ....... ..$138.946.74 <br /> <br />Mix Residential <br /> <br /> <br />Total Acreage............................................ .................. ..69 Acres <br /> <br />Average Density ......................................... ....................1 Unit Per 4.5 Acres <br /> <br />Total Units... ............................ .................................. ..15 <br /> <br />Value Per Unit (Based on Existing Apartment Building)... ... .... .... .$38,070.00 <br /> <br /> <br />Total Value.................................. .... ......... .................. ..$571,050.00 <br /> <br />Tax Capacity Rate @ 3.4% ................................................$19,415.70 <br /> <br /> <br />Tax Generation Rate... ... . . ... . .. . . .. . . .. . .. . . .. . . .. . . .. .. .. . . .. . . .. . . .. . . .1.09593 <br /> <br /> <br />Total Taxes Generated .................... ............. .................. ...$21,278.25 <br /> <br />Commercial/Industrial <br /> <br /> <br />Total Acreage .............................................................. ..574 Acres <br /> <br />Value Per Acre (manufacturing/warehouse value).......................$17,947.60 <br />Market Value................................ ................. .............. ..$10,301,922.40 <br /> <br /> <br />Tax Capacity Rate ......................................................... ..4.7% <br /> <br />Tax Capacity Value.. ................ ....................................... .$484,190.35 <br /> <br /> <br />Tax Generation Rate ........ ...... ......... ................... .... ........ ..1.09593 <br /> <br />Total Taxes Generated.................................................... ..$530,638.73 <br />Total Property Taxes Generated By Land Use Plan....... $690,863.72 <br /> <br />City's portion @17%........................................ $117,446.83 <br />