25-04 Resolution Adopting Written Fiscal Plan and Establishing a Policy for the Provision of Services to the Lafayette Falls Extension Annexation Area

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Lafayette Falls Extension Annexation Area 4 E. Buildings& Land Use The Annexation Area contains vacant land. A development of 111 housing units, primarily in the form of single unit dwellings, is proposed for the land. F. Zoning&Subdivisions The property in the Annexation Area is currently zoned R Single Family District in St. Joseph County. With the annexation petition,the properties would automatically be zoned as S1 Suburban Neighborhood 1 in the City of South Bend. The Annexation Area falls within the Zeiger's U.S 31 Minor Subdivision. G. Population No people currently reside in the Annexation Area. At project buildout, an estimated 250 residents would live in the Annexation Area. H. Tax Rate& Impact The tax rates used are those of 2023 payable 2024. The total tax rate for unincorporated Centre Township is 2.7697 per$100 of taxable real estate. The total tax rate for South Bend Centre Township is 5.3227 per$100 of taxable real estate. Per State law, the tax caps expressed as a percentage of the gross assessed value for different classifications of property are as follows, regardless of the property's location being within South Bend or unincorporated St. Joseph County: Property Type . Cap Homestead Residential 1.0% Non-Homestead Residential 2.0% Agricultural 2.0% Other (Commercial) 3.0% For at least the four years after the effective date of the annexation, the expected tax rates, tax levies, expenditure levels, service levels, and annual debt service payments are estimated to be approximately the same as those in effect at the time of annexation for each of the political subdivisions to which the proposed annexation applies. Because of the relatively small size of the Annexation Area and its assessed value relative to the total size and tax base of the various political subdivisions, this annexation is expected, for at least four years after the effective date of this annexation, to have a negligible impact on the finances and tax revenues of South Bend and other political subdivisions to which the proposed annexation applies, on the political subdivisions in St. Joseph County not part of this annexation, and on taxpayers not part of this annexation.