| Commercial New Construction Scenario - Larger Commercial | ||||||||||||
| EXAMPLE: New commercial construction in NR District | ||||||||||||
| Lot Appraised* | Lot Assessed | Property Tax** | New Appraised*** | New Assessed | New Tax | Revenue-Plan | Added Value | Annual Rebate | Revenue Loss/Gain | |||
| 2007 | $ 245,900.75 | $ 61,475.19 | $ 6,762.27 | $ 2,470,900.75 | $ 617,725.19 | $ 67,949.77 | $ 41,210.83 | $2,225,000.00 | $ 26,738.94 | $ 34,448.56 | ||
| 2008 | $ 255,736.78 | $ 63,934.20 | $ 7,032.76 | $ 2,569,736.78 | $ 642,434.20 | $ 70,667.76 | $ 43,928.82 | $ 26,738.94 | $ 36,896.06 | |||
| 2009 | $ 265,966.25 | $ 66,491.56 | $ 7,314.07 | $ 2,672,526.25 | $ 668,131.56 | $ 73,494.47 | $ 46,755.53 | $ 26,738.94 | $ 39,441.46 | |||
| 2010 | $ 276,604.90 | $ 69,151.23 | $ 7,606.63 | $ 2,779,427.30 | $ 694,856.83 | $ 76,434.25 | $ 49,695.31 | $ 26,738.94 | $ 42,088.68 | |||
| 2011 | $ 287,669.10 | $ 71,917.27 | $ 7,910.90 | $ 2,890,604.39 | $ 722,651.10 | $ 79,491.62 | $ 52,752.68 | $ 26,738.94 | $ 44,841.78 | |||
| 2012 | $ 299,175.86 | $ 74,793.97 | $ 8,227.34 | $ 3,006,228.57 | $ 751,557.14 | $ 82,671.29 | $ 55,932.35 | $ 26,738.94 | $ 47,705.01 | |||
| 2013 | $ 311,142.90 | $ 77,785.72 | $ 8,556.43 | $ 3,126,477.71 | $ 781,619.43 | $ 85,978.14 | $ 59,239.20 | $ 26,738.94 | $ 50,682.77 | |||
| 2014 | $ 323,588.61 | $ 80,897.15 | $ 8,898.69 | $ 3,251,536.82 | $ 812,884.21 | $ 89,417.26 | $ 62,678.33 | $ 26,738.94 | $ 53,779.64 | |||
| 2015 | $ 336,532.16 | $ 84,133.04 | $ 9,254.63 | $ 3,381,598.29 | $ 845,399.57 | $ 92,993.95 | $ 66,255.02 | $ 26,738.94 | $ 57,000.38 | |||
| 2016 | $ 349,993.44 | $ 87,498.36 | $ 9,624.82 | $ 3,516,862.22 | $ 879,215.56 | $ 96,713.71 | $ 69,974.77 | $ 26,738.94 | $ 60,349.95 | |||
| 2017 | $ 363,993.18 | $ 90,998.29 | $ 10,009.81 | $ 3,657,536.71 | $ 914,384.18 | $100,582.26 | $ 73,843.32 | $ 26,738.94 | $ 63,833.51 | $ 294,128.31 | ||
| 2018 | $ 378,552.91 | $ 94,638.23 | $ 10,410.20 | $ 3,803,838.18 | $ 950,959.55 | $104,605.55 | $ 104,605.55 | $ - | $ 94,195.35 | |||
| 2019 | $ 393,695.02 | $ 98,423.76 | $ 10,826.61 | $ 3,955,991.71 | $ 988,997.93 | $108,789.77 | $ 108,789.77 | $ - | $ 97,963.16 | |||
| 2020 | $ 409,442.82 | $102,360.71 | $ 11,259.68 | $ 4,114,231.38 | $1,028,557.84 | $113,141.36 | $ 113,141.36 | $ - | $ 101,881.69 | |||
| 2021 | $ 425,820.54 | $106,455.13 | $ 11,710.06 | $ 4,278,800.63 | $1,069,700.16 | $117,667.02 | $ 117,667.02 | $ - | $ 105,956.95 | |||
| 2022 | $ 442,853.36 | $110,713.34 | $ 12,178.47 | $ 4,449,952.66 | $1,112,488.16 | $122,373.70 | $ 122,373.70 | $ - | $ 110,195.23 | $1,041,260.19 | ||
| 2023 | $ 460,567.49 | $115,141.87 | $ 12,665.61 | $ 4,627,950.76 | $1,156,987.69 | $127,268.65 | $ 127,268.65 | $ - | $ 114,603.04 | |||
| 2024 | $ 478,990.19 | $119,747.55 | $ 13,172.23 | $ 4,813,068.80 | $1,203,267.20 | $132,359.39 | $ 132,359.39 | $ - | $ 119,187.16 | |||
| 2025 | $ 498,149.80 | $124,537.45 | $ 13,699.12 | $ 5,005,591.55 | $1,251,397.89 | $137,653.77 | $ 137,653.77 | $ - | $ 123,954.65 | |||
| 2026 | $ 518,075.79 | $129,518.95 | $ 14,247.08 | $ 5,205,815.21 | $1,301,453.80 | $143,159.92 | $ 143,159.92 | $ - | $ 128,912.83 | |||
| 2027 | $ 538,798.82 | $134,699.71 | $ 14,816.97 | $ 5,414,047.82 | $1,353,511.95 | $148,886.31 | $ 148,886.31 | $ - | $ 134,069.35 | $1,661,987.22 | ||
| 2028 | $ 560,350.78 | $140,087.69 | $ 15,409.65 | $ 5,630,609.73 | $1,407,652.43 | $154,841.77 | $ 154,841.77 | $ 139,432.12 | ||||
| 2029 | $ 582,764.81 | $145,691.20 | $ 16,026.03 | $ 5,855,834.12 | $1,463,958.53 | $161,035.44 | $ 161,035.44 | $ 145,009.41 | ||||
| 2030 | $ 606,075.40 | $151,518.85 | $ 16,667.07 | $ 6,090,067.48 | $1,522,516.87 | $167,476.86 | $ 167,476.86 | $ 150,809.78 | ||||
| 2031 | $ 630,318.42 | $157,579.60 | $ 17,333.76 | $ 6,333,670.18 | $1,583,417.55 | $174,175.93 | $ 174,175.93 | $ 156,842.17 | ||||
| 2032 | $ 655,531.15 | $163,882.79 | $ 18,027.11 | $ 6,587,016.99 | $1,646,754.25 | $181,142.97 | $ 181,142.97 | $ 163,115.86 | ||||
| 2033 | $ 681,752.40 | $170,438.10 | $ 18,748.19 | $ 6,850,497.67 | $1,712,624.42 | $188,388.69 | $ 188,388.69 | $ 169,640.49 | ||||
| 2034 | $ 709,022.50 | $177,255.62 | $ 19,498.12 | $ 7,124,517.58 | $1,781,129.39 | $195,924.23 | $ 195,924.23 | $ 176,426.11 | ||||
| 2035 | $ 737,383.40 | $184,345.85 | $ 20,278.04 | $ 7,409,498.28 | $1,852,374.57 | $203,761.20 | $ 203,761.20 | $ 183,483.16 | ||||
| 2036 | $ 766,878.73 | $191,719.68 | $ 21,089.17 | $ 7,705,878.21 | $1,926,469.55 | $211,911.65 | $ 211,911.65 | $ 190,822.49 | ||||
| 2037 | $ 797,553.88 | $199,388.47 | $ 21,932.73 | $ 8,014,113.34 | $2,003,528.34 | $220,388.12 | $ 220,388.12 | $ 198,455.39 | ||||
| 2038 | $ 829,456.04 | $207,364.01 | $ 22,810.04 | $ 8,334,677.87 | $2,083,669.47 | $229,203.64 | $ 229,203.64 | $ 206,393.60 | ||||
| $ 424,004.30 | $3,966,422.10 | $ 3,542,417.80 | ||||||||||
| *Based on the average downtown lot valuation. | ||||||||||||
| **Based on current mill levy of .11. | ||||||||||||
| ***Based on the average permit valuation for a new commercial construction project in downtown during 2004. | ||||||||||||
| Commercial New Construction Scenario - Small Commercial | ||||||||||||
| EXAMPLE: New commercial construction in NR District | ||||||||||||
| Lot Appraised | Lot Assessed | Property Tax | New Appraised | New Assessed | New Tax | Revenue-Plan | Added Value | Annual Rebate | Revenue Loss/Gain | |||
| 2007 | $ 100,000.00 | $ 25,000.00 | $ 2,750.00 | $ 600,000.00 | $ 69,000.00 | $ 7,590.00 | $ 1,581.25 | $ 500,000.00 | $ 6,008.75 | $ (1,168.75) | ||
| 2008 | $ 104,000.00 | $ 26,000.00 | $ 2,860.00 | $ 624,000.00 | $ 71,760.00 | $ 7,893.60 | $ 1,884.85 | $ 6,008.75 | $ (975.15) | |||
| 2009 | $ 108,160.00 | $ 27,040.00 | $ 2,974.40 | $ 648,960.00 | $ 74,630.40 | $ 8,209.34 | $ 2,200.59 | $ 6,008.75 | $ (773.81) | |||
| 2010 | $ 112,486.40 | $ 28,121.60 | $ 3,093.38 | $ 674,918.40 | $ 77,615.62 | $ 8,537.72 | $ 2,528.97 | $ 6,008.75 | $ (564.41) | |||
| 2011 | $ 116,985.86 | $ 29,246.46 | $ 3,217.11 | $ 701,915.14 | $ 80,720.24 | $ 8,879.23 | $ 2,870.48 | $ 6,008.75 | $ (346.63) | |||
| 2012 | $ 121,665.29 | $ 30,416.32 | $ 3,345.80 | $ 729,991.74 | $ 83,949.05 | $ 9,234.40 | $ 3,225.65 | $ 6,008.75 | $ (120.15) | |||
| 2013 | $ 126,531.90 | $ 31,632.98 | $ 3,479.63 | $ 759,191.41 | $ 87,307.01 | $ 9,603.77 | $ 3,595.02 | $ 6,008.75 | $ 115.39 | |||
| 2014 | $ 131,593.18 | $ 32,898.29 | $ 3,618.81 | $ 789,559.07 | $ 90,799.29 | $ 9,987.92 | $ 3,979.17 | $ 6,008.75 | $ 360.36 | |||
| 2015 | $ 136,856.91 | $ 34,214.23 | $ 3,763.56 | $ 821,141.43 | $ 94,431.26 | $ 10,387.44 | $ 4,378.69 | $ 6,008.75 | $ 615.12 | |||
| 2016 | $ 142,331.18 | $ 35,582.80 | $ 3,914.11 | $ 853,987.09 | $ 98,208.52 | $ 10,802.94 | $ 4,794.19 | $ 6,008.75 | $ 880.08 | |||
| 2017 | $ 148,024.43 | $ 37,006.11 | $ 4,070.67 | $ 888,146.57 | $ 102,136.86 | $ 11,235.05 | $ 5,226.30 | $ 6,008.75 | $ 1,155.63 | $ 66,096.25 | ||
| 2018 | $ 153,945.41 | $ 38,486.35 | $ 4,233.50 | $ 923,672.43 | $ 106,222.33 | $ 11,684.46 | $ 11,684.46 | $ - | $ 7,450.96 | |||
| 2019 | $ 160,103.22 | $ 40,025.81 | $ 4,402.84 | $ 960,619.33 | $ 110,471.22 | $ 12,151.83 | $ 12,151.83 | $ - | $ 7,749.00 | |||
| 2020 | $ 166,507.35 | $ 41,626.84 | $ 4,578.95 | $ 999,044.10 | $ 114,890.07 | $ 12,637.91 | $ 12,637.91 | $ - | $ 8,058.96 | |||
| 2021 | $ 173,167.64 | $ 43,291.91 | $ 4,762.11 | $ 1,039,005.87 | $ 119,485.67 | $ 13,143.42 | $ 13,143.42 | $ - | $ 8,381.31 | |||
| 2022 | $ 180,094.35 | $ 45,023.59 | $ 4,952.59 | $ 1,080,566.10 | $ 124,265.10 | $ 13,669.16 | $ 13,669.16 | $ - | $ 8,716.57 | $ 39,534.48 | ||
| 2023 | $ 187,298.12 | $ 46,824.53 | $ 5,150.70 | $ 1,123,788.75 | $ 129,235.71 | $ 14,215.93 | $ 14,215.93 | $ - | $ 9,065.23 | |||
| 2024 | $ 194,790.05 | $ 48,697.51 | $ 5,356.73 | $ 1,168,740.30 | $ 134,405.13 | $ 14,784.56 | $ 14,784.56 | $ - | $ 9,427.84 | |||
| 2025 | $ 202,581.65 | $ 50,645.41 | $ 5,571.00 | $ 1,215,489.91 | $ 139,781.34 | $ 15,375.95 | $ 15,375.95 | $ - | $ 9,804.95 | |||
| 2026 | $ 210,684.92 | $ 52,671.23 | $ 5,793.84 | $ 1,264,109.51 | $ 145,372.59 | $ 15,990.99 | $ 15,990.99 | $ - | $ 10,197.15 | |||
| 2027 | $ 219,112.31 | $ 54,778.08 | $ 6,025.59 | $ 1,314,673.89 | $ 151,187.50 | $ 16,630.62 | $ 16,630.62 | $ - | $ 10,605.04 | $ 88,634.69 | ||
| 2028 | $ 227,876.81 | $ 56,969.20 | $ 6,266.61 | $ 1,367,260.84 | $ 157,235.00 | $ 17,295.85 | $ 17,295.85 | $ 11,029.24 | ||||
| 2029 | $ 236,991.88 | $ 59,247.97 | $ 6,517.28 | $ 1,421,951.27 | $ 163,524.40 | $ 17,987.68 | $ 17,987.68 | $ 11,470.41 | ||||
| 2030 | $ 246,471.55 | $ 61,617.89 | $ 6,777.97 | $ 1,478,829.33 | $ 170,065.37 | $ 18,707.19 | $ 18,707.19 | $ 11,929.22 | ||||
| 2031 | $ 256,330.42 | $ 64,082.60 | $ 7,049.09 | $ 1,537,982.50 | $ 176,867.99 | $ 19,455.48 | $ 19,455.48 | $ 12,406.39 | ||||
| 2032 | $ 266,583.63 | $ 66,645.91 | $ 7,331.05 | $ 1,599,501.80 | $ 183,942.71 | $ 20,233.70 | $ 20,233.70 | $ 12,902.65 | ||||
| 2033 | $ 277,246.98 | $ 69,311.74 | $ 7,624.29 | $ 1,663,481.87 | $ 191,300.42 | $ 21,043.05 | $ 21,043.05 | $ 13,418.75 | ||||
| 2034 | $ 288,336.86 | $ 72,084.21 | $ 7,929.26 | $ 1,730,021.15 | $ 198,952.43 | $ 21,884.77 | $ 21,884.77 | $ 13,955.50 | ||||
| 2035 | $ 299,870.33 | $ 74,967.58 | $ 8,246.43 | $ 1,799,221.99 | $ 206,910.53 | $ 22,760.16 | $ 22,760.16 | $ 14,513.72 | ||||
| 2036 | $ 311,865.15 | $ 77,966.29 | $ 8,576.29 | $ 1,871,190.87 | $ 215,186.95 | $ 23,670.56 | $ 23,670.56 | $ 15,094.27 | ||||
| 2037 | $ 324,339.75 | $ 81,084.94 | $ 8,919.34 | $ 1,946,038.51 | $ 223,794.43 | $ 24,617.39 | $ 24,617.39 | $ 15,698.04 | ||||
| 2038 | $ 337,313.34 | $ 84,328.34 | $ 9,276.12 | $ 2,023,880.05 | $ 232,746.21 | $ 25,602.08 | $ 25,602.08 | $ 16,325.97 | ||||
| $ 172,429.04 | $ 409,807.90 | $ 237,378.86 | ||||||||||