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10-27-08 Council Meeting Agenda & Packet
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10-27-08 Council Meeting Agenda & Packet
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9/12/2012 11:22:31 AM
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10/23/2008 2:13:37 PM
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City Council - City Clerk
City Council - Document Type
Agendas
City Counci - Date
10/27/2008
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54908 L Road (Court) Annexation Area 13 <br />A. Revenue estimate is based upon nearby comparable assessed values in Clay Township for <br />attached residential units ($150,000 per unit) taxed at two percent of assessed value, and for <br />comparable retail property ($70 per square foot) taxed at three percent of assessed value. <br />B. Total estimated assessed value: <br />10 Apartments @ $150,000 per unit: $1,500,000 <br />12 000 Sa Ft Retail (a $70 per Sq Ft • $840.000 <br />Total: $2,340,000 <br />C. Total estimated per year tax revenue: <br />Apartments: $1,500,000(0.02) = $30,000 <br />Retail X840,000(0.03)= $25.200 <br />Total: $55,200 <br />
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