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• Street Reconstruction <br /> A. Residential Equivalent Assessment Rate <br /> All R-1 and R-2 residentially zoned properties with frontage abutting a street that is <br /> reconstructed shall be assessed on a per unit basis at the residential equivalent assessment <br /> rate. <br /> This rate shall apply, regardless of the street's classification (local, collector, arterial, trunk <br /> highway); designation (County State-Aid Highway, Municipal State-Aid Street); or <br /> jurisdiction(State, County or City). <br /> The residential equivalent assessment rate shall be based on fifty percent (50%) of the total <br /> cost of street reconstruction, including all associated overhead costs for a typical residential <br /> street section. This residential equivalent assessment rate shall be determined by the City <br /> Council. <br /> B. Commercial Equivalent Assessment Rate/All Other Zoning Classifications <br /> Assessment Rate <br /> Commercial properties with frontage abutting a street that is reconstructed shall be assessed <br /> on a per unit basis at the commercial/industrial equivalent assessment rate. The per unit basis <br /> IIIis calculated based on the average neighborhood unit size, particularly in a mixed(residential <br /> and commercial) neighborhood. Larger sized commercial lots may be sub-divided into <br /> smaller units for assessment purposes and to ensure equity. <br /> This rate shall apply, regardless of the street's classification (local, collector, arterial, trunk <br /> highway); designation (County State-Aid Highway, Municipal State-Aid Street); or <br /> jurisdiction (State, County or City). <br /> The commercial/industrial equivalent assessment rate shall be based on seventy percent <br /> (70%) of the cost of street reconstruction plus all associated overhead costs for a typical <br /> commercial street section. This commercial/industrial equivalent assessment rate shall be <br /> determined by the City Council. <br /> C. Tax Exempt(non-profits, churches, schools, organizations, groups) Equivalent <br /> Assessment Rate <br /> The tax exempt equivalent assessment rate shall be based on one hundred percent (100%) of <br /> the total cost of street reconstruction, including all associated overhead costs for a typical <br /> residential street <br /> • <br /> 2004 Assessment Policy—Page 3 <br />