18-57 Blad Annexation Area Fiscal Plan

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Blad Annexation Area 4 E. Buildings & Land Use The Annexation Area contains agricultural land. Agricultural uses, along with others permitted in the zoning district, are proposed for the land. F. Zoning&Subdivisions The one property in the Annexation Area is currently zoned "A" Agricultural District in St. Joseph County. With the annexation petition, the petitioner seeks to rezone the land to "GI" General Industrial District in the City. The Annexation Area does not fall within any subdivision of record. G. Population No people currently reside in the Annexation Area. After development, no residents are proposed to live in the Annexation Area. H. Tax Rate & Impact The tax rates used are those of 2017 payable 2018. The total tax rate for unincorporated Portage Township is 2.7846 per $100 of taxable real estate. The total tax rate for South Bend Portage Township is 5.985 per $100 of taxable real estate. Per State law, the tax caps expressed as a percentage of the gross assessed value for different classifications of property are as follows, regardless of the property's location being within South Bend or unincorporated St. Joseph County: Property Type Cap Homestead Residential 1.0% Non-Homestead Residential 2.0% Agricultural 2.0% Other (Commercial) 3.0% For at least the four years after the effective date of the annexation, the expected tax rates, tax levies, expenditure levels, service levels, and annual debt service payments are estimated to be approximately the same as those in effect at the time of annexation for each of the political subdivisions to which the proposed annexation applies. Because of the relatively small size of the Annexation Area and its assessed value relative to the total size and tax base of the various political subdivisions, this annexation is expected, for at least four years after the effective date of this annexation, to have a negligible impact on the finances and tax revenues of South Bend and other political subdivisions to which the proposed annexation applies, on the political subdivisions in St. Joseph County not part of this annexation, and on taxpayers not part of this annexation.