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City of Centerville
<br />Tax Abatement Project
<br />Hotel and Restaurant
<br />Comparison of Scenario and Impact on City Tax Rate
<br />Impact of Tax Total with Tax
<br />SCENARIO A Pay 2023AbatementAbatement
<br />City Tax Levy2,919,880.0040,2402,960,120
<br />Less Fiscal Disparities Distribution (Area Wide Levy)328,626.000328,626
<br />Net Levy (Spread Levy)2,591,254.0040,2402,631,494
<br />Tax Capacity6,551,794.00135,6626,687,456
<br />Less TIF-0-
<br />Less Fiscal Disparities Contribution275,511.0038,199313,710
<br />Net Tax Capacity6,276,283.0097,4636,373,746
<br />City Tax Rate41.286%41.286%<<no change in City Tax Rate as a result of Tax Abatement
<br />Impact of Tax Total with Tax
<br />SCENARIO B Pay 2023AbatementAbatement
<br />City Tax Levy2,919,880.0056,0112,975,891
<br />Less Fiscal Disparities Distribution (Area Wide Levy)328,626.000328,626
<br />Net Levy (Spread Levy)2,591,254.0056,0112,647,265
<br />Tax Capacity6,551,794.00135,6626,687,456
<br />Less TIF-0-
<br />Less Fiscal Disparities Contribution275,511.0038,199313,710
<br />Net Tax Capacity6,276,283.0097,4636,373,746
<br />City Tax Rate41.286%41.534%<<increase in City Tax Rate
<br />Impact of Tax Total with Tax
<br />SCENARIO C Pay 2023AbatementAbatement
<br />City Tax Levy2,919,880.0061,3112,981,191
<br />Less Fiscal Disparities Distribution (Area Wide Levy)328,626.000328,626
<br />Net Levy (Spread Levy)2,591,254.0061,3112,652,565
<br />Tax Capacity6,551,794.00135,6626,687,456
<br />Less TIF-0-
<br />Less Fiscal Disparities Contribution275,511.0038,199313,710
<br />Net Tax Capacity6,276,283.0097,4636,373,746
<br />City Tax Rate41.286%41.617%<<increase in City Tax Rate
<br />Note:
<br />1. Pay 2023 data is used to illustrate impact of Tax Abatement levy under different scenarios. A project completed in 2023, would be valued in 2024, for taxes first
<br />payable in 2025. This comparison is provided for illustration purposes only.
<br />2. Scenario A assumes tax abatement levy is adjusted to account for fiscal disparities contribution and for current taxable market value of parcel.
<br />3. Scenario B assumes tax abatement levy is not adjusted to account for fiscal disparities contribution, but is adjusted for current taxable market value of parcel.
<br />4. Scenario C assumes tax abatement levy is not adjusted to account for fiscal disparities contribution and is not adjusted for current taxable market value of parcel.
<br />Page 1 of 54/20/2023
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