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Baney Annexation Area 4 <br /> E. Buildings & Land Use <br /> The Annexation Area contains one single-family house on a wooded lot. Light industrial uses, <br /> such as manufacturing, assembly, distribution, and warehousing, are proposed for the land. <br /> F. Zoning&Subdivisions <br /> The one property in the Annexation Area is currently zoned "A" Agricultural District in St. <br /> Joseph County. With the annexation petition, the petitioner seeks to rezone the land to "LI" <br /> Light Industrial District in the City. The Annexation Area does not fall within any subdivision of <br /> 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 2016 payable 2017. The total tax rate for unincorporated <br /> German Township is 2.6362 per $100 of taxable real estate. The total tax rate for South <br /> Bend German Township is 5.9486 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 Cap <br /> Homestead Residential 1.0% <br /> Non-Homestead Residential 2.0% <br /> Agricultural 2.0% <br /> Other (Commercial) 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 />