Fiscal Plan for the Provision of services to an Annexation Area (Shellbark Annexation Area)

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Shellbark Annexation Area 4 E. Buildings and Land Use The Annexation Area contains vacant single-family residential land. The land is proposed to be used for a retention basin providing drainage for an adjacent medical office facility. F. Zoning&Subdivisions The portion of the one property in the Annexation Area is currently zoned "R" Single Family District in St. Joseph County. With the annexation petition, the petitioner is seeking to rezone the land to "CB" Community Business District in the City. The Annexation Area is subdivided within Lilac Acres. The petitioner plans to subdivide the Annexation Area from its current parcel and combine it with the adjoining medical office properties into a single large lot, all within the City. 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 German Township is 2.6971 per$100 of taxable real estate. The total tax rate for South Bend German Township is 5.9591 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