Adopting Fiscal Plan to an Annexation Area in Portage Township Mayflower-Western

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Mayflower-Western Annexation Area 4 E. Buildings and Land Use The Annexation Area contains one restaurant and seven single-family houses. The houses would be demolished for a proposed grocery store. F. Zoning&Subdivisions The eleven properties in the Annexation Area are currently zoned "R" Single Family District (nine properties), "B" Business District (one property), and "C" Commercial District (one property) in St. Joseph County. With the annexation petition, the petitioner is seeking to rezone the entire Annexation Area to "CB" Community Business District in the City. The Annexation Area is subdivided within Grouse's Addition. The petitioners plan to replat the properties into a single large lot. G. Population Zero (0) people currently reside in the Annexation Area. After development, no residents are proposed to live in the Annexation Area. H. Tax Rate& Impact The tax rates used are those of 2014 payable 2015. The total tax rate for unincorporated Portage Township is 2.9418 per $100 of taxable real estate. The total tax rate for South Bend Portage Township is 5.9952 per$100 of taxable real estate. Per State law, the tax caps expressed as a percentage of the gross assessed value for different classifications of property are as follows, regardless of the property's location being within South Bend or unincorporated St. Joseph County: Property Type Cap Homestead Residential 1.0% Non-Homestead Residential 2.0% Agricultural 2.0% Other (Commercial) 3.0% For at least the four years after the effective date of the annexation, the expected tax rates, tax levies, expenditure levels, service levels, and annual debt service payments are estimated to be approximately the same as those in effect at the time of annexation for each of the political subdivisions to which the proposed annexation applies. Because of the relatively small size of the Annexation Area and its assessed value relative to the total size and tax base of the various political subdivisions, this annexation is expected, for at least four years after the effective date of this annexation, to have a negligible impact on