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| Neighborhood Revitalization Program Tax Rebate Impact | |||||||||||||||||||||
| City Levy = 26.36 Mills | |||||||||||||||||||||
| Assessed Value (11.5%) | City Tax Revenue | ||||||||||||||||||||
| Market Value | All Taxing Entities Scenario | ||||||||||||||||||||
| $ 150,000.00 | $ 17,250.00 | $ 454.71 | EXAMPLE: Average home in NRD is rehabbed for an increased valuation of $26,796 | ||||||||||||||||||
| $ 200,000.00 | $ 23,000.00 | $ 606.28 | Appraised | Assessed | Property Tax | New Appraised | New Assessed | New Tax | Revenue-Plan | Added Value | Annual Rebate | Revenue Loss/Gain | |||||||||
| $ 147,705.00 | $ 16,986.08 | $ 447.75 | 2007 | $ 169,693.00 | $ 19,514.70 | $ 2,146.62 | $ 196,489.00 | $ 22,596.24 | $ 2,485.59 | $ 2,163.56 | $ 26,796.00 | $ 322.02 | $ 16.95 | ||||||||
| 2008 | $ 176,480.72 | $ 20,295.28 | $ 2,232.48 | $ 204,348.56 | $ 23,500.08 | $ 2,585.01 | $ 2,262.99 | $ 322.02 | $ 30.51 | ||||||||||||
| 2009 | $ 183,539.95 | $ 21,107.09 | $ 2,321.78 | $ 212,522.50 | $ 24,440.09 | $ 2,688.41 | $ 2,366.39 | $ 322.02 | $ 44.61 | ||||||||||||
| 2010 | $ 190,881.55 | $ 21,951.38 | $ 2,414.65 | $ 221,023.40 | $ 25,417.69 | $ 2,795.95 | $ 2,473.93 | $ 322.02 | $ 59.27 | ||||||||||||
| 2011 | $ 198,516.81 | $ 22,829.43 | $ 2,511.24 | $ 229,864.34 | $ 26,434.40 | $ 2,907.78 | $ 2,585.76 | $ 322.02 | $ 74.53 | ||||||||||||
| Annual Increase Projection - NR District | 2012 | $ 206,457.48 | $ 23,742.61 | $ 2,611.69 | $ 239,058.91 | $ 27,491.77 | $ 3,024.10 | $ 2,702.07 | $ 322.02 | $ 90.39 | |||||||||||
| 2013 | $ 214,715.78 | $ 24,692.31 | $ 2,716.15 | $ 248,621.27 | $ 28,591.45 | $ 3,145.06 | $ 2,823.04 | $ 322.02 | $ 106.88 | ||||||||||||
| 2014 | $ 223,304.41 | $ 25,680.01 | $ 2,824.80 | $ 258,566.12 | $ 29,735.10 | $ 3,270.86 | $ 2,948.84 | $ 322.02 | $ 124.04 | ||||||||||||
| Year | Market Value | Assessed Value | City Tax Revenue | 2015 | $ 232,236.59 | $ 26,707.21 | $ 2,937.79 | $ 268,908.76 | $ 30,924.51 | $ 3,401.70 | $ 3,079.67 | $ 322.02 | $ 141.88 | ||||||||
| 2006 | $714,450,429.00 | $ 78,376,852.00 | $ 2,066,013.82 | 2016 | $ 241,526.05 | $ 27,775.50 | $ 3,055.30 | $ 279,665.11 | $ 32,161.49 | $ 3,537.76 | $ 3,215.74 | $ 322.02 | $ 160.44 | ||||||||
| 2007 | $ 2,148,654.37 | 2017 | $ 251,187.09 | $ 28,886.52 | $ 3,177.52 | $ 290,851.72 | $ 33,447.95 | $ 3,679.27 | $ 3,357.25 | $ 322.02 | $ 179.74 | $3,542.23 | |||||||||
| 2008 | $ 2,234,600.55 | 2018 | $ 261,234.58 | $ 30,041.98 | $ 3,304.62 | $ 302,485.79 | $ 34,785.87 | $ 3,826.45 | $ 3,826.45 | $ - | $ 521.83 | ||||||||||
| 2009 | $ 2,323,984.57 | 2019 | $ 271,683.96 | $ 31,243.66 | $ 3,436.80 | $ 314,585.22 | $ 36,177.30 | $ 3,979.50 | $ 3,979.50 | $ - | $ 542.70 | ||||||||||
| 2010 | $ 2,416,943.95 | 2020 | $ 282,551.32 | $ 32,493.40 | $ 3,574.27 | $ 327,168.63 | $ 37,624.39 | $ 4,138.68 | $ 4,138.68 | $ - | $ 564.41 | ||||||||||
| 2011 | $ 2,513,621.71 | 2021 | $ 293,853.37 | $ 33,793.14 | $ 3,717.25 | $ 340,255.37 | $ 39,129.37 | $ 4,304.23 | $ 4,304.23 | $ - | $ 586.99 | ||||||||||
| 2012 | $ 2,614,166.58 | 2022 | $ 305,607.51 | $ 35,144.86 | $ 3,865.93 | $ 353,865.59 | $ 40,694.54 | $ 4,476.40 | $ 4,476.40 | $ - | $ 610.46 | $3,855.62 | |||||||||
| 2013 | $ 2,718,733.24 | 2023 | $ 317,831.81 | $ 36,550.66 | $ 4,020.57 | $ 368,020.21 | $ 42,322.32 | $ 4,655.46 | $ 4,655.46 | $ - | $ 634.88 | ||||||||||
| 2014 | $ 2,827,482.57 | 2024 | $ 330,545.08 | $ 38,012.68 | $ 4,181.40 | $ 382,741.02 | $ 44,015.22 | $ 4,841.67 | $ 4,841.67 | $ - | $ 660.28 | ||||||||||
| 2015 | $ 2,940,581.87 | 2025 | $ 343,766.88 | $ 39,533.19 | $ 4,348.65 | $ 398,050.66 | $ 45,775.83 | $ 5,035.34 | $ 5,035.34 | $ - | $ 686.69 | ||||||||||
| 2016 | $ 3,058,205.15 | 2026 | $ 357,517.56 | $ 41,114.52 | $ 4,522.60 | $ 413,972.69 | $ 47,606.86 | $ 5,236.75 | $ 5,236.75 | $ - | $ 714.16 | ||||||||||
| 2017 | $ 3,180,533.35 | 2027 | $ 371,818.26 | $ 42,759.10 | $ 4,703.50 | $ 430,531.60 | $ 49,511.13 | $ 5,446.22 | $ 5,446.22 | $ - | $ 742.72 | $7,294.35 | |||||||||
| 2028 | $ 386,690.99 | $ 44,469.46 | $ 4,891.64 | $ 447,752.86 | $ 51,491.58 | $ 5,664.07 | $ 5,664.07 | $ 772.43 | |||||||||||||
| 2015 | $ 2,940,581.87 | 2029 | $ 402,158.63 | $ 46,248.24 | $ 5,087.31 | $ 465,662.97 | $ 53,551.24 | $ 5,890.64 | $ 5,890.64 | $ 803.33 | |||||||||||
| 2016 | $ 3,058,205.15 | 2030 | $ 418,244.97 | $ 48,098.17 | $ 5,290.80 | $ 484,289.49 | $ 55,693.29 | $ 6,126.26 | $ 6,126.26 | $ 835.46 | |||||||||||
| 2017 | $ 3,180,533.35 | 2031 | $ 434,974.77 | $ 50,022.10 | $ 5,502.43 | $ 503,661.07 | $ 57,921.02 | $ 6,371.31 | $ 6,371.31 | $ 868.88 | |||||||||||
| 2032 | $ 452,373.76 | $ 52,022.98 | $ 5,722.53 | $ 523,807.51 | $ 60,237.86 | $ 6,626.17 | $ 6,626.17 | $ 903.64 | |||||||||||||
| 2033 | $ 470,468.72 | $ 54,103.90 | $ 5,951.43 | $ 544,759.82 | $ 62,647.38 | $ 6,891.21 | $ 6,891.21 | $ 939.78 | |||||||||||||
| 2034 | $ 489,287.46 | $ 56,268.06 | $ 6,189.49 | $ 566,550.21 | $ 65,153.27 | $ 7,166.86 | $ 7,166.86 | $ 977.37 | |||||||||||||
| 2035 | $ 508,858.96 | $ 58,518.78 | $ 6,437.07 | $ 589,212.22 | $ 67,759.40 | $ 7,453.53 | $ 7,453.53 | $ 1,016.47 | |||||||||||||
| 2036 | $ 529,213.32 | $ 60,859.53 | $ 6,694.55 | $ 612,780.71 | $ 70,469.78 | $ 7,751.68 | $ 7,751.68 | $ 1,057.13 | |||||||||||||
| 2037 | $ 550,381.85 | $ 63,293.91 | $ 6,962.33 | $ 637,291.93 | $ 73,288.57 | $ 8,061.74 | $ 8,061.74 | $ 1,099.41 | |||||||||||||
| 2038 | $ 572,397.13 | $ 65,825.67 | $ 7,240.82 | $ 662,783.61 | $ 76,220.12 | $ 8,384.21 | $ 8,384.21 | $ 1,143.39 | |||||||||||||
| $ 134,596.00 | $ 152,307.65 | $ 17,711.65 | |||||||||||||||||||
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