|
<br />Step 4 - Calculate Marginal Local Property Tax Revenues (Including Net Fiscal
<br />Disparity Revenues)
<br />
<br />The table below summarizes the marginal local property tax revenues generated from new
<br />growth for FAZ 3 under Trends. The local property tax revenues each year are calculated by
<br />multiplying the annual tax rate times the tax capacity. Based on the above methodology, the
<br />annual tax rate changes slightly each year gi ven that it is dependent on the other variables. The
<br />current level of service, however, is maintained, based on the annually adjusted gross levy.
<br />
<br />For residential development, 100 percent of the marginal tax capacity is multiplied times the
<br />annual tax rate. For nonresidential development, however, only 60 percent of the tax capacity is
<br />multiplied times the tax rate given that 40 percent goes into the areawide pool. Annual fiscal
<br />disparity revenues are then added to the direct property tax total. Fiscal disparity revenues reflect
<br />the marginal increase from the base year. Marginal HACA, Local Government Aid (LGA), and
<br />Loca] Performance Aid (LPA) are also are summed at the bottom of the table. For the
<br />Concentrated Development scenario the tax increment revenues will be calculated and accounted
<br />for separately from the non-redevelopment growth based on the market values outlined earlier.
<br />
<br />YeUT> Bue 1000 2001 Z002 1003 2004 2005
<br />SINGLE FAMILY OU 50 50 50 50 50 50
<br />MEDIUM DENSITY DU 50 50 50 50 SO SO
<br />HIGH DENSITY DU 5139 5272 5410 SS47 5685 $8B
<br />TOTAL DU', 51)9 5272 5410 $547 5685 5823
<br />,NREV PAGE
<br />RETAIL 60{k (4(}{... LO pOD I 53.IH $6,144 59.ZSl 512,351 $15.462 51U81
<br />OFFICE 60% (40~';' [0 pool 57.782 515,186 522,870 530,531 538.220 $45.930
<br />INDUSTIFLEX 60';f. (40'';' [0 pool 54,717 59.323 $14,039 518,743 $23.463 528.196
<br />TOTAL NR 51,5.707 $30,653 $46.L61 561.625 577,145 $92,708
<br />-------~~~-------------------- ------------ --_..0------------- :=::Z:========'=':='i"- :=====~~~~~:=~ ~~=========== ===.::.===:==::::::: :z:II.,..;r;rili;;::;;:====
<br />-----------------------------~ ------------ ---------------
<br />TOTAL DU &0 NR PROPERTY TAXES $15,847 SJO,925 546,571 $62,172 $ 77 ,830 S93,53 1
<br />TOTAL ANNUAL PROPERTY TAXES $15,8~7 $30,925 $46,571 Sn,l71 S11.S30 $93,531
<br />FISCAL DISPARITY REVENUES (SI29) ($1,08S) ($6.397. lS5,688) (S5,5~0) ($5,3~D)
<br />TOTAL PROPERTY TAXESIW FD $15,117 529,837 $4D 113 $56 484 $n,291 $88191
<br />TOTAL HACA SO $0 $0 SO $0 $0
<br />TOTAL LGA/LPA $1,882 $60,843 S59.813 $58,903 S57,931 $56,961
<br />
<br />Page 42
<br />
<br />Tischler & Associates, Inc.
<br />
|