Fiscal Plan for Lilac Trails Annexation Area in German Township

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Lilac Acres Fiscal Plan Upon annexation it will be zoned "A" Residential per the requirements of Chapter 21 of the Municipal Code of the City of South Bend. H. Tax Rate Tax rate information is based upon published tax rates for tax year 1994 payable in 1995. Tax rates may, and generally do, change every year. Depending upon the effective date of the annexation, the rates used in this Fiscal Plan may no longer be applicable. The City of South Bend will be providing fire service upon incorporation of the Annexation Area. The Total Township Rate will decrease by $0.2955 per $100.00 of assessed valuation with the deletion of the Fire Fighting Fund assessment. The tax rate for the Annexation Area will increase by $6.3542 per $100.00 of assessed valuation with the addition of the City and Town Rate, the Redevelopment District Rate and the South Bend Transpo Rates. The net increase in property taxes are estimated to be $6.0587 per $100.00 of assessed valuation. Table 3 in the Appendix shows the current, representative tax rate information as published by the St. Joseph County Auditor. Property tax records indicate that the total tax bill, payable in 1995, is $390.25. Assuming the property remains vacant, annexation of the property would result in a new net tax of $634.43, based on current tax rates and calculations. L Assessments The following net assessments in the Annexation Area are from the 1994 payable 1995 property tax records: Land $4,990.00 Improvements $ 0.00 J. Councilmanic District The Annexation Area will be represented by Councilmanic District 1. K. Comparable Area One of the requirements of the Fiscal Plan is to show that the Annexation Area will receive services in a manner equivalent in standard and scope to services provided to areas within the City that have similar topography, patterns of land use, and population density. 7