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<br />ESTIMATED ASSESMENTS <br /> <br /> <br />It would be the intent of the city to assess forty properties affected by the <br />water main extension project at $14,250.00 per parcel in accordance with the <br />city’s assessment policy. <br />As a result of a recent city council decision, the project area has increased <br />to include additional properties that are continuous to the original area. The <br />additional properties in this area shall be assessed by the city in the same manner. <br /> <br /> <br />EFFECTIVE DATE <br /> <br />The effective date of this report is September 6th, 2025. <br /> <br />PROJECT AREA <br /> <br /> The area involved is an upscale area of custom-built homes situated on <br />small acreage sites. Typically, in the range of three acres in size, guided for estate <br />neighborhood. This neighborhood is located along the western border of Gem <br />Lake. <br /> Typical Assessed Market Values range in the area from $425,000.00 to <br />$1,00,000.00 plus price range. The average home value for the area is <br />$712,500.00. <br /> The additional properties included in the project area are like the original <br />project area. They are of a comparable price range and situated on small acreage <br />sites. <br /> <br /> <br /> <br /> <br /> <br />9