Laserfiche WebLink
Cleveland and Lynnewood Annexation Area 12 <br />TABLE 1 <br />Summary Table -Estimated Fiscal Impact <br />Utilizing New 3% Property Tax Cap on Businesses* <br />Expenditures Capital (est.) Non -Capital <br />Per Year (est.) <br />5-Year <br />Sewer Extension $0.00 n/a $0.00 <br />Water Extension $0.00 $0.00 <br />Street Lights $0.00 $0.00 <br />Police $3,372 $16,860 <br />Fire &EMS $3516 $17,580 <br />Code $282 $1,410 <br />Street Maintenance $1011 $5,055 <br />Street Construction $0.00 $0.00 <br />Approximate 5-Year Cost $40,909 <br /> <br />Revenues Tax Year @ <br />Property Taxes (est) unincorporated 07/08 NA <br /> (year 1; 2009) 08/09 $15,000 <br /> (year 2; 2010) 09/10 $45,000 <br /> (year 3; 2011) 10/11 $90,000 <br /> (year 4; 2012) 11/12 $150,000 <br /> (year 5; 2013) 12/13 $210,000 <br />Note: All Revenues estimated & cumulative <br />MVH/LRSA estimated from 2001 revenue/mile <br />@ 11 340 x 5 years <br />$4,366 <br /> <br />Approximate 5-Year Revenue $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 />