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Olive Road 3 Annexation Area 4 <br />E. Buildings and Land Use <br />There two houses in the Annexation Area. There are no immediate development plans, but it is <br />anticipated that the properties will be developed as either commercial or industrial, based on the <br />surrounding land uses. The houses will be removed. <br />F. Zoning & Subdivisions <br />The site is zoned "R" Residential in unincorporated St. Joseph County. It is proposed to be zoned <br />"A" Single Family upon incorporation. <br />G. Population <br />There are no people currently residing in the Annexation Area. <br />H. Tax Rate <br />The tax rates used are those of 2001 payable in 2002. <br />The Township Rate will decrease by $.1908 per $100.00 of assessed valuation with the deletion of <br />the Fire Fighting Fund, the Fire debt Fund and the Cumulative Fire assessments. <br />The tax rate for the Annexation Area will increase by $2.8726 with the addition of the City and <br />Town Rate, the Redevelopment District Rate and the South Bend Transpo Rate. <br />The net increase in property taxes will be $2.6818 per $100.00 of assessed valuation. Table] <br />shows representative tax rate information as published by the St. Joseph County Auditor. <br />I. Assessments <br />2002 payable 2003, St. Joseph County Auditor property tax records: <br />Land: $11.310.00 <br />Improvements: $59,700.00 <br />Net: $71,010.00 <br />Estimated net assessment at build out for the proposed development: Unknown <br />J. Municipal Legislative District <br />The Annexation Area will be in the 1st District. <br />