2005_0815_Packet - Laserfiche WebLink

Home

If we calculate the impact on the City budget for each $1.0 million of bonds issued, the impact is approximately $20,317. On a$200,000 market value home, this City budget impact may require a revenue increase of approximately $1.10 (this assumes no changes in budgets, levies revenues and so forth from 2005). We have assumed that the maximum amount of bonds to be issued for HSS is approximately $4.5 million. Multiplying 4.5 times the above City budget impact would be $91,427. Thus the City budget impact should not exceed $5.00 on this home. The impact on the school district budget is slightly smaller, at $18,324. Because of the larger tax capacity base in the school district, the same $200,000 home would have an increase of only $0.52 on the School District's portion of the local property tax for each $1.0 million of bonds. The dollar impact on the County budget is larger ($43,567), but because of the substantial tax capacity base in the County, on the same $200,000 home, the increase on the County's portion of the property tax is only $0.26 for each $1.0 million of bonds. The combined impact for each $1.0 million of bonds issued on the City, School Dislrict and County budgets is projected to be $82,208. On a$200,000 market value home, this combined budget impact may require a revenue increase of approximately $1.88. Assuming $4.5 million in bonds were issued, the combined budget impact would be approximately $370,000, which may have an $8.46 annual impact on the same home. Again, because of the many variables, it is hard to assess the future impacts. In fact, the Redeveloper is assuming a smaller bond issue in its projections than we are using in our exan�ple above. If we can provide any additional information with regard to this matter, please give us a call. �T �ICTF WELSCH BEETS M ILLER JRC GJ 01A.DDC � Page 2