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Portage Road Unincorporated Triangle Annexation Area 11 <br />TABLE 1 <br />Summary Table B Estimated Fiscal Impact <br />Utilizing 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 />$562 <br />$2,810 <br />Fire &EMS <br />$586 <br />$2,930 <br />Code <br />$47 <br />$235 <br />Street Maintenance <br />$0 ** <br />$.00 <br />Street Construction <br />$0.00 <br />$0.00 <br />Approximate 5 -Year Cost <br />$5,975 <br />Revenues <br />Tax Year <br />@ <br />Property Taxes (est) <br />unincorporated <br />07108 <br />NA <br />(year 1; 2009) <br />08/09 <br />$5,475 <br />(year 2; 2010) <br />09/10 <br />$16,426 <br />(year 3; 2011) <br />10 /11 <br />$27,375 <br />(year 4; 2012) <br />11/12 <br />$38,325 <br />(year 5; 2013) <br />12/13 <br />$49,275 <br />Note: <br />All Revenues estimated & cumulative <br />MVH /LRSA <br />estimated from 2001 revenue /mile <br />@$11,340** <br />x 5 years <br />$0 <br />Approximate 5 -Year Revenue <br />$49,275 <br />Estimated full net assessment in 2010: $365,000.00 <br />Estimated tax income per year after full development potential is reached in 2010: <br />($365,000.00 X 0.03 = $10,950) $10,950. Please know that under the former <br />property tax system the estimated tax income per year after full development would <br />be $14,400.00, and the approximate 5 -year revenue would be $72,000 (a difference <br />of $22,725). <br />*Based upon preliminary understanding of law passed on 3/14/08. <br />* *No new roadways will be added to the City's inventory <br />