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Southfield Lake Annexation Area 4 <br />D. Size of Annexation Area <br />The Annexation Area is 55 acres in area. <br />E. Buildings and Land Use <br />The Annexation Area is currently used for agriculture. The site contains one single-family structure <br />and a pond. The land is slated to be used for a mix ofsingle-family homes and duplexes and a <br />forest preserve. <br />F. Zoning & Subdivisions <br />The site is zoned "R" Residential in unincorporated St. Joseph County. It is proposed to be zoned <br />"SFl" Single-Family District and "PUD" Planned Unit Development upon approval of the City <br />Council and incorporation into the City of South Bend. <br />G. Population <br />2.5 persons currently reside in the Annexation Area. <br />H. Tax Rate <br />The tax rates used are those of 2005 payable in 2006. <br />The Township Rate will decrease by $0.1155 per $100.00 of assessed valuation with the deletion <br />of the Fire Fighting Fund and the Cumulative Fire assessments. <br />The tax rate for the Annexation Area will increase by $2.2971 with the addition of the City and <br />Town Rate, the Redevelopment District Rate and the South Bend Transpo Rate. <br />The net increase in property taxes will be $2.2971 per $100.00 of assessed valuation. Table 2 <br />shows representative tax rate information as published by the St. Joseph County Auditor. <br />I. Assessments <br />2005 payable 2006, St. Joseph County Auditor property tax records: <br />Land: $320,000 <br />Improvements: $0.00 <br />Net: $320,000 <br />