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SOUTH BEND (INDIANA) REDEVELOPMENT COMMISSION
<br />ESTIMATED IMPACT OF AMENDING THE AREA AND SOUTHSIDE ALLOCATION AREA
<br />ON OVERLAPPING TAXING UNITS - PENN TOWNSHIP TAXING DISTRICT (1)
<br />Net Assessed Estimated
<br />South Bend - Penn Township Tax Value of Property
<br />Taxing Unit Rate Taxing Unit Tax Levy
<br />SCENARIO I:PRESENT SITUATION
<br />Represents 2023 taxes payable 2024 property tax levies, assessed valuation, and tax rates.
<br />St. Joseph County $0.5593 $12,462,483,560 $69,702,670
<br />St. Joseph County Major Bridge (2)0.0333 12,462,483,560 4,150,007
<br />St. Joseph County Cumulative Capital Development (2)0.0333 12,462,483,560 4,150,007
<br />Penn Township 0.0320 2,895,800,015 926,656
<br />South Bend Civil City 2.9583 3,645,470,284 107,843,947
<br />South Bend Civil City Cumulative Capital Development (2)0.0282 3,645,470,284 1,028,023
<br />Penn-Harris-Madison School Corporation 0.9275 3,768,092,417 34,949,057
<br />Mishawaka County Public Library 0.1337 4,577,519,905 6,120,144
<br />St. Joseph County Airport Authority 0.0271 12,462,483,560 3,377,333
<br />St. Joseph County Airport Authority Cumulative Building Fund (2)0.0130 12,462,483,560 1,620,123
<br />South Bend Public Transportation Corporation 0.1036 5,491,024,935 5,688,702
<br />St. Joseph County Solid Waste Management 0.0000 12,462,483,560 0
<br />Total Tax Rate (per $100 AV)$4.8493
<br />Tax Incremental Estimated Circuit Net
<br />TIF Allocation Fund Rate Assessed Value Tax Increment Breaker Tax Increment
<br />Southside Allocation Area (3)$4.8493 $279,102 $13,530 ($3,490)$10,040
<br />SCENARIO II:ASSUMES THE AREA, SOUTHSIDE ALLOCATION AREA, AND THE PLAN ARE AMENDED Rate Levy
<br />Represents the estimated tax impact of amending and expanding the Area and Southside Allocation Area.Difference Difference
<br />Assumes the incremental assessed value from the Future Development is captured.From Scenario I From Scenario I
<br />St. Joseph County $0.5593 $12,462,483,560 $69,702,670 $0.0000 $0
<br />St. Joseph County Major Bridge (2)0.0333 12,462,483,560 4,150,007 0.0000 0
<br />St. Joseph County Cumulative Capital Development (2)0.0333 12,462,483,560 4,150,007 0.0000 0
<br />Penn Township 0.0320 2,895,800,015 926,656 0.0000 0
<br />South Bend Civil City 2.9583 3,645,470,284 107,843,947 0.0000 0
<br />South Bend Civil City Cumulative Capital Development (2)0.0282 3,645,470,284 1,028,023 0.0000 0
<br />Penn-Harris-Madison School Corporation 0.9275 3,768,092,417 34,949,057 0.0000 0
<br />Mishawaka County Public Library 0.1337 4,577,519,905 6,120,144 0.0000 0
<br />St. Joseph County Airport Authority 0.0271 12,462,483,560 3,377,333 0.0000 0
<br />St. Joseph County Airport Authority Cumulative Building Fund (2)0.0130 12,462,483,560 1,620,123 0.0000 0
<br />South Bend Public Transportation Corporation 0.1036 5,491,024,935 5,688,702 0.0000 0
<br />St. Joseph County Solid Waste Management 0.0000 12,462,483,560 0 0.0000 0
<br />Total Tax Rate (per $100 AV)$4.8493 $0.0000 $0
<br />Tax Incremental Estimated Circuit Net
<br />TIF Allocation Fund Rate Assessed Value Tax Increment Breaker Tax Increment
<br />Southside Allocation Area (3)$4.8493 $279,102 $13,530 ($3,490)$10,040
<br />SCENARIO III:ASSUMES THE AREA, SOUTHSIDE ALLOCATION AREA, AND THE PLAN ARE NOT AMENDED Rate Levy
<br />Assumes the Area and Southside Allocation Area are not amended and therefore, the Expansion Areas and Expansion Difference Difference
<br />Allocation Area are not established. Assumes the Projects cannot be funded and the Future Development does not occur. From Scenario I From Scenario I
<br />St. Joseph County $0.5593 $12,462,483,560 $69,702,670 $0.0000 $0
<br />St. Joseph County Major Bridge (2)0.0333 12,462,483,560 4,150,007 0.0000 0
<br />St. Joseph County Cumulative Capital Development (2)0.0333 12,462,483,560 4,150,007 0.0000 0
<br />Penn Township 0.0320 2,895,800,015 926,656 0.0000 0
<br />South Bend Civil City 2.9583 3,645,470,284 107,843,947 0.0000 0
<br />South Bend Civil City Cumulative Capital Development (2)0.0282 3,645,470,284 1,028,023 0.0000 0
<br />Penn-Harris-Madison School Corporation 0.9275 3,768,092,417 34,949,057 0.0000 0
<br />Mishawaka County Public Library 0.1337 4,577,519,905 6,120,144 0.0000 0
<br />St. Joseph County Airport Authority 0.0271 12,462,483,560 3,377,333 0.0000 0
<br />St. Joseph County Airport Authority Cumulative Building Fund (2)0.0130 12,462,483,560 1,620,123 0.0000 0
<br />South Bend Public Transportation Corporation 0.1036 5,491,024,935 5,688,702 0.0000 0
<br />St. Joseph County Solid Waste Management 0.0000 12,462,483,560 0 0.0000 0
<br />Total Tax Rate (per $100 AV)$4.8493 $0.0000 $0
<br />Tax Incremental Estimated Circuit Net
<br />TIF Allocation Fund Rate Assessed Value Tax Increment Breaker Tax Increment
<br />Southside Allocation Area (3)$4.8493 $279,102 $13,530 ($3,490)$10,040
<br />(1) Based on information provided from the 2024 Budget Order.
<br />(2) Tax rates are not adjusted for rate-driven funds. Assumes these funds are maintained at their current rates.
<br />(3) Assessed value and Circuit Breaker Tax Credit information per the St. Joseph County Auditor's office.
<br />(Subject to the attached Impact Statement
<br />dated November 25, 2024 of Baker Tilly Municipal Advisors, LLC)
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