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FARMLAND PRESERVATION PROGRAM - FINANCIAL ANALYSIS 13 <br /> ASSUMPTIONS: <br /> 1. Two borrowings: 1995(Year 1) $2.5 million <br /> 1996(Year 2) $2.5 million <br /> 2. 20—year General Obligation Bonds at 6.50% <br /> 3. County Population(1994): 101,137,with 1.7%per year growth <br /> 4. One cent raises$451,893 in 1994; 25%per year growth in assessed value. <br /> 5. Average new single—family dwelling cost in 1993 was$170,000; 2.5%per year growth in assessed value. <br /> PER CAPITA COST: <br /> 1995(Year 1) per capita cost($2.5 million) $2.80 <br /> 1996(Year 2) per capita cost($2.5 million) $5.42 <br /> (Year of maximum impact,declines thereafter) <br /> — OR — <br /> TAX IMPACT,AVERAGE NEW RESIDENTIAL DWELLING: <br /> Average cost of a new single—family dwelling was $170,000 in 1993. <br /> 1995(Year 1) debt service ($2.5 million) $1131 <br /> 1996(Year 2) debt service ($2.5 million) $2230 <br /> (Year of maximum impact,declines thereafter) <br /> — OR — <br /> COST PER$1,000 ASSESSED VALUE: <br /> 1995(Year 1) cost per$1,000 assessed value $0.07 <br /> 19%(Year 2) cost per$1,000 assessed value $0.13 <br /> (Year of maximum impact,declines thereafter) <br /> — OR — <br /> TAX RATE IMPACT: <br /> 1995(Year 1) — $2.5 million 0.00649 cents <br /> 1996(Year 2) — $5.0 million 0.01249 cents <br /> (Year of maximum impact,declines thereafter) <br />