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<br /> Historical Net Ass Sout
<br />essed Valuations of the City o en
<br /> (Per St, Joseph County Auditor's Office)
<br /> Year Personal
<br /> Pa ab a Real Estate Utilities Property Total
<br /> .1981 $278,440,b53 $18,358,130 $112,828,582 $409,627,365
<br /> 1982 279,874,483 18,957,970 114,710,976 413,543,429
<br /> 1983. 280,282,619 20,455,950 122,148,057 422,88b,626
<br /> 1984 282,089,259 20,873,970 114,996,397 417,959,626
<br /> 1985 281,152,034 21,973,060 103,898,740 407,023,834
<br />- 1986 284,.893,744 20,967,360 127,172,176 433,033,280
<br /> 1987 285,897,178 20,633,920 123,167,379 429,698,477
<br /> 1988 290,297,209 20,850,010 122,907,516 434,054,735
<br /> 1989 292,823,.013 20,343,450 121,251,803. 434,418,266
<br /> 1990 494,756,776 20,268,470 131,705,499 646,730,745*
<br /> 1991 607,279,000 est.-~
<br />NOTE: The real property assessment in Indiana that was effective March 1,
<br />1979, was based upon-1975 costs of land, material and labor, and
<br />applied. to 1979 taxes payable in 1980 through 1988 taxes payable in
<br />1989. The real property reassessment effective March 1, 1989 .and is
<br />based upon 1985 costs of land, material and labor, and will apply to
<br />1989 taxes payable in 1990 through 1994 taxes payable in 1995. For
<br />taxing purposes assessments .are made at 33 1/3~ of true tax value. Net
<br />assessed valuations represent the assessed value less certain
<br />deductions, such as deductions for mortgages, veterans, the aged, the
<br />blind and tax-exempt property.
<br />The net assessed valuations also do not include valuation of the City's
<br />Urban Enterprise Zone, abated valuations, and tax incremental assessed
<br />valuation. The personal property assessed value of the Urban Enterprise
<br />Zone totalled. $24,468,.820 for tax year payable 1990. This. valuation is
<br />removed from the tax rolls for a period of ten years which began in
<br />1984. Real and personal property tax- abatements reduce the taxable
<br />valuation of~ property by decreasing amounts over a term of up to .ten
<br />years. The total abated valuation. in payable year 1990 was $32,848,630.
<br />The tax incremental assessed valuation which will eventually .become part
<br />of the tax .base totalled $28,447,694.
<br />* According to the St. Joseph County Auditor's office, appeals have been
<br />filed regarding the property tax values; consequently, :the net assessed
<br />value is subject to change.
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