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Estimate of Value and Taxes <br />3/1/2023 <br />Hotel & Restaurant Proposal <br />Est Building Size: 4,800 sf restaurant and (19,912 sf x 4 sty) = 55,648 sf hotel <br />Style of Building: 1 story commercial and 4 story hotel (84 unit hotel) <br />Quality of Building: Average <br />Est Land Use: 5.3 Acres Total 3.4 Usable <br />Est Value per square foot: $124 <br />Est Total Value: $7,500,000 <br />Classification Rate: (Commercial) 1.5% on first $150,000 then 2% above $150,000 <br />Est of Total Annual Property Taxes: $225,300 <br /> <br /> <br />Centerville Apartment Proposal <br />Units: 103 <br />Style of Building: 4 stories (parking on main level and 3 levels of units above) <br />Quality of Building: Good Quality Market Rate <br />Est Land Use: 5.3 acres Total 3.4 Usable <br />Est of Value per unit: $193,200 <br />Est Total Value: $19,900,000 <br />Classification Rate: (Apartment) 1.25% <br />Est of Total Annual Property Taxes: $281,900 <br />Generic Commercial Alternative <br />Est Building Size: 30,000 square feet (low land to bldg. ratio base on usable ground) <br />Style of Building: 1 story commercial <br />Quality of Building: Average <br />Est Land Use: 5.3 Acres Total 3.4 Usable <br />Est Value per square foot: $153 <br />Est Total Value: $4,600,000 <br />Classification Rate: (Commercial) 1.5% on first $150,000 then 2% above $150,000 <br />Est of Total Annual Property Taxes: $137,500 <br /> <br />