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Fiscal Plan for Rainbow Child Annexation Area in Clay Township
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Fiscal Plan for Rainbow Child Annexation Area in Clay Township
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Last modified
11/5/2014 11:39:43 AM
Creation date
11/4/2014 9:45:17 AM
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City Council - City Clerk
City Council - Document Type
Resolutions
City Counci - Date
10/27/2014
Ord-Res Number
4401-14
Bill Number
14-95
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Rainbow Child Annexation Area <br />TABLE 1 <br />Summary Table Estimated Fiscal Impact <br />12 <br />Expenditures <br />Capital <br />(Est.) <br />Non - Capital <br />Per Year (Est.) <br />Notes <br />5 -Year Total <br />Street Construction <br />$0 <br />$41,141 <br />Year2 <br />$0 <br />Sewer Extension <br />$0 <br />Year <br />Connection at <br />petitioner's <br />expense <br />$0 <br />Water Extension <br />$0 <br />Estimated at revenue <br />per mile of $20,000 <br />Connection at <br />petitioner's <br />expense <br />$0 <br />Street Lights <br />$0 <br />$0 <br />Street Maintenance <br />$0 <br />$0 <br />$0 <br />Police <br />$0 <br />$1,570 <br />$7,850 <br />Fire <br />$0 <br />$2,060 <br />$10,300 <br />Code <br />$0 <br />$120 <br />$600 <br />Approximate 5 -Year Expenditures <br />$18,750 <br />Revenues <br />Notes <br />Total (Est.) <br />5 -Year Total <br />Property Taxes <br />(to City) <br />Year 1 <br />$4,569 <br />$41,141 <br />Year2 <br />$9,143 <br />Year <br />$9,143 <br />Year <br />$9,143 <br />Year <br />$9,143 <br />MVH /LRSA <br />Estimated at revenue <br />per mile of $20,000 <br />$0 <br />$0 <br />Approximate 5 -Year Revenues <br />$41,141 <br />Revenue estimate based on $219,900 net assessment and capped commercial tax rate of <br />3% of $219,900 gross assessment prior to development and $396,000 net assessment and <br />capped commercial tax rate of 3% of $440,000 gross assessment, first taxable in Year 2. <br />
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