Agenda - 09-06-1994 - VII-A - Laserfiche WebLink

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48 FARMLAND PRESERVATION PROGRAM - FINANCIAL ANALYSIS ASSUMPTIONS: 1. Three borrowings: 1995(Year 1) $2.0 million • 1996(Year 2) $2.0 million 1997(Year 3) $1.0 million 2. 20-year General Obligation Bonds at 6.50% 3. County Population(1994): 101,137,with 1.7%per year growth 4. One cent raises$451,893 in 1994; 25%per year growth in assessed value. 5. Average new single-family dwelling cost in 1993 was$170,000; 2.5%per year growth in assessed value. PER CAPITA COST: 1995 (Year 1) per capita cost($2.0 million) $2.24 19%(Year 2) per capita cost($4.0 million) $4.34 1997(Year 3) per capita cost($5.0 million) $5.22 (Year of maximum impact,declines thereafter) - OR - TAX IMPACT,AVERAGE NEW RESIDENTIAL DWELLING: Average cost of a new single-family dwelling was $170,000 in 1993. 1995 (Year 1) debt service ($2.0 million) $9.05 1996(Year 2) debt service ($4.0 million) $17.84 1997(Year 3) debt service ($5.0 million) $21.86 (Year of maximum impact,declines thereafter) - OR - COST PER $1,000 ASSESSED VALUE: 1995(Year 1) cost per$1,000 assessed value $0.05 1996(Year 2) cost per$1,000 assessed value $0.10 1997 (Year 3) cost per$1,000 assessed value $0.13 (Year of maximum impact, declines thereafter) - OR - TAX RATE IMPACT: 1995 (Year 1) - $2.0 million 0.00519 cents 1996(Year 2) - $4.0 million 0.00999 cents 1997(Year 3) - $5.0 million 0.01194 cents (Year of maximum impact, declines thereafter)