Fiscal Plan for Reservior Annexation Area in Centre Township

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It is estimated that the tax rate for the Annexation Area will increase by $5.9126 per $100.00 of assessed valuation with the addition of the City and Town Rate, the Redevelopment District Rate and the South Bend Transpo Rate. The net increase in property taxes are estimated to be $5.4174 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. L Assessments The following net assessments in the Annexation Area are from the 1992 payable 1993 property tax records: Real Property $269,680.00 Personal Property 0.00 TOTAL $269,680.00 Property tax records indicate that the total tax bill, payable in 1993, for all properties involved within the Annexation Area, is $19,813.74. Assuming that factors remain constant, the total tax bill for the same properties upon incorporation would be approximately $31,583 an increase of about $11,770 or 62.7 %. J. Councilmanic District The Annexation Area will be assigned to Councilmanic District 5. 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. The Comparable Area for this Fiscal Plan is generally located north of Ireland Road, east of York Road, and west of Ironwood Road. The area is flat to moderately sloping. The area contains several structures; two single - family residences; one medical office; one insurance office; and a church. VA