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Cleveland and Lynnewood Annexation Area 12 <br />TABLE 1 <br />Summary Table - Estimated Fiscal Impact <br />Utilizin4 New 3% Property Tax Cap on Businesses* <br />Expenditures <br />Capital (est.) <br />Non - Capital <br />Per Year (est.) <br />5 -Year <br />Sewer Extension <br />$0.00 <br />n/a <br />$0.00 <br />Water Extension <br />$0.00 <br />$0.00 <br />Street Lights <br />$0.00 <br />$0.00 <br />Police <br />$3,372 <br />$16,860 <br />Fire &EMS <br />$3516 <br />$17,580 <br />Code <br />$282 <br />$1,410 <br />Street Maintenance <br />$1011 <br />$5,055 <br />Street Construction <br />$0.00 <br />$0.00 <br />Approximate 5 -Year Cost <br />$40,909 <br />Revenues <br />Tax Year <br />@ <br />Property Taxes (est) <br />unincorporated <br />07108 <br />NA <br />(year 1; 2009) <br />08/09 <br />$15,000 <br />(year 2; 2010) <br />09/10 <br />$45,000 <br />(year 3; 2011) <br />10/11 <br />$90,000 <br />(year 4; 2012) <br />11/12 <br />$150,000 <br />(year 5; 2013) <br />12/13 <br />$210,000 <br />Note: <br />All Revenues estimated & cumulative <br />MVH /LRSA <br />estimated from 2001 revenue /mile <br />@$11,340 <br />x S years <br />$4,366 <br />Approximate 5 -Year Revenue <br />$214,366 <br />Estimated full net assessment in 2012: $2,000,000.00 <br />Estimated tax income per year after full development potential is reached in 2012: <br />($2,000,000.00 X 0.03 = $60,000) $60,000.00. Please know that under the former <br />property tax system the estimated tax income per year after full development would <br />be $80,000.00, and the approximate 5 -year revenue would be $284,366 (a $70,000 <br />difference). <br />*Based upon preliminary understanding of law passed on 3/14/08. <br />