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Fox Creek Annexation Area 4 <br /> <br /> <br /> <br />E. Buildings & Land Use <br /> <br />The Annexation Area contains vacant land. A development of 41 housing units, primarily in <br />the form of duplexes, is proposed for the land. <br /> <br />F. Zoning & Subdivisions <br /> <br />The one property in the Annexation Area is currently zoned R Single Family District in St. <br />Joseph County. With the annexation petition, the petitioner seeks to rezone the land to U2 <br />Urban Neighborhood 2 District in the City. The Annexation Area does not fall within any <br />subdivision of record. <br /> <br />G. Population <br /> <br />No people currently reside in the Annexation Area. After development, an estimated 60 <br />residents would live in the Annexation Area. <br /> <br />H. Tax Rate & Impact <br /> <br />The tax rates used are those of 2023 payable 2024. The total tax rate for unincorporated <br />Clay Township is 2.5281 per $100 of taxable real estate. The total tax rate for South Bend <br />Clay Township is 5.3384 per $100 of taxable real estate. <br /> <br />Per State law, the tax caps expressed as a percentage of the gross assessed value for <br />different classifications of property are as follows, regardless of the property’s location being <br />within South Bend or unincorporated St. Joseph County: <br /> <br />Property Type Cap <br />Homestead Residential 1.0% <br />Non-Homestead Residential 2.0% <br />Agricultural 2.0% <br />Other (Commercial) 3.0% <br /> <br />For at least the four years after the effective date of the annexation, the expected tax rates, <br />tax levies, expenditure levels, service levels, and annual debt service payments are estimated <br />to be approximately the same as those in effect at the time of annexation for each of the <br />political subdivisions to which the proposed annexation applies. <br /> <br />Because of the relatively small size of the Annexation Area and its assessed value relative to <br />the total size and tax base of the various political subdivisions, this annexation is expected, for <br />at least four years after the effective date of this annexation, to have a negligible impact on <br />the finances and tax revenues of South Bend and other political subdivisions to which the <br />proposed annexation applies, on the political subdivisions in St. Joseph County not part of this <br />annexation, and on taxpayers not part of this annexation.