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Airport Authority Annexation Area 4 <br />E. Buildings & Land Use <br />The Annexation Area contains two vacant residential structures and crop and wooded land. <br />Light industrial uses are proposed for the land. <br />F. Zoning & Subdivisions <br />The seven properties in the Annexation Area are currently zoned "A" Agricultural District (three <br />properties) and "M" Manufacturing Industrial District (four properties) in St. Joseph County. <br />With the annexation petition, the petitioner is seeking to rezone all parcels to "LI" Light <br />Industrial District in the City. Two of the parcels fall within the Cascino Second Minor <br />Subdivision, while the other five parcels do not fall within any subdivision of record. <br />G. Population <br />No people currently reside in the Annexation Area. After development, no residents are <br />proposed to live in the Annexation Area. <br />H. Tax Rate & Impact <br />The tax rates used are those of 2015 payable 2016. The total tax rate for unincorporated <br />German Township is 2.7475 per $100 of taxable real estate. The total tax rate for South <br />Bend German Township is 6.0342 per $100 of taxable real estate. <br />Per State law, the tax caps expressed as a percentage of the gross assessed value for <br />different classifications of property are as follows, regardless of the property's location being <br />within South Bend or unincorporated St. Joseph County: <br />Property Type <br />Cap <br />Homestead Residential <br />1.0% <br />Non - Homestead Residential <br />2.0% <br />Agricultural <br />2.0% <br />Other (Commercial) <br />3.0% <br />For at least the four years after the effective date of the annexation, the expected tax rates, <br />tax levies, expenditure levels, service levels, and annual debt service payments are estimated <br />to be approximately the same as those in effect at the time of annexation for each of the <br />political subdivisions to which the proposed annexation applies. <br />Because of the relatively small size of the Annexation Area and its assessed value relative to <br />the total size and tax base of the various political subdivisions, this annexation is expected, for <br />at least four years after the effective date of this annexation, to have a negligible impact on <br />the finances and tax revenues of South Bend and other political subdivisions to which the <br />