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17. Tax Revenue <br />The projected property value at project completion is $239,109,467. The chart below <br />analyzes the dwelling unit values, non-residential sq. ft. value and the value per acre. <br />nni <br />Li <br />(i <br />I <br />J <br />3 <br />YEAR 3 <br />DWELLINGS $PER UNIT OR AC FAR <br />OR SQ. FT. Per SQ.FT. <br />60 $200,000 SF 22.6 $531,000/AC <br />54 <br />100 $140,000 TH 6.77 $1,116, 700/AC <br /> $150,000 AL 10.6 .$1,415 <br />100/AC <br />30 $120,000 R 5.0 , <br />$720 <br />000/AC <br />230 $ 66,700 MF 19.2 , <br />$788 <br />600/AC <br />100,000SF $70 SF OFFICE 10 , <br />$700,000/AC <br />28 <br />SO,000SF $100 SF RETAIL 7.17 . <br />$697,000/AC <br />16 <br />200 $50,000 HOTEL/RM 5.0* . <br />$2,000,000/AC <br /> $70 SF OFFICE 3.0* $1,167,000/AC .38 <br />* YEAR 2 <br />The projected values noted by the applicant should be considered with the following caution; <br />a) The property values are the basis of summary/revenue benefit analysis tax <br />b). The values appear high for various uses and could distort the expected revenue <br />amount. <br />c). The market values could be further reduced by taxable value assessment which at <br />times does not fully reflect market value. <br />d). The actual amount of building square footage is likely to be less after site plan <br />constraints. <br />The estimates from the applicant of property/building value seem high at this time and <br />should be the subject of further review using comparable and market value vs. tax rate <br />ratios. <br />As submitted this proposal would generate approximately 2.1 million in annual ad <br />valorem tax revenue to the County. The additional revenue streams of sales tax and <br />population based revenue sharing is unaddressed at this time. <br />Page 4 of 4 <br />