Agenda - 04-20-1993 - VII-C - Laserfiche WebLink

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SECTION 2 SHARE OF EXISTING COUNTY EXPENDITURES TO TOTAL LOCAL NONRESIDENTIAL USES Total County Expenditures - This figure represents the total county expenditures for the current fiscal year budget. This information may be obtained from the county's finance or budget office. Example - $42,494,467. Proportion of Nonresidential Value To Total Local Real Property Value - This figure is derived by dividing the county's nonresidential equalized real property value ($380,988,660 in our example)by total local equalized real property value ($3,463,533,275 in our example). The resulting quotient indicates that 11% of the total local equalized real property value is nonresidential. Refinement Coefficient - County expenditures are not allocated according to market values of residential and nonresidential properties. It is therefore wrong to assume that because 11%of the total equalized real property value is nonresidential, that 11% of the county's total expenditures go to serve nonresidential developments. Generally speaking, residential developments place more demands on county services, and therefore, cost the county more than nonresidential developments. It is best that the analyst contact the tax assessor and finance department for this figure. Based on input from the tax assessor and a brief overview of services offered by departments, our refinement coefficient was set at 20 %. This means that 20 % of the 11% nonresidential market value actually goes to serve nonresidential developments. The resulting 80% goes to residential. Total Existing County Expenditures Attributable To Nonresidential Uses-This figure is the product of the above three figures(($42,494,467 * .11) * .20),or$934,878. This figure represents the total existing county expenditures attributable to nonresidential uses. SECTION 3 FUTURE TOTAL COUNTY OPERATING COSTS INDUCED BY THE PROPOSED DEVELOPMENT Total Existing County Expenditures Attributable to Nonresidential Uses - See above. This figure is$934,878 in our example. Proportion of Facility to Total Local Nonresidential Real Property Value -This figure is derived by dividing the real property market value of the proposed development ($1,899,819 in our example)by the total nonresidential real property value ($380,988,660 in our example). This gives us a quotient of.005 indicating that the market value of this development is .5 percent of the total nonresidential real property value. County Costs to Proposed Development - This figure is the product of the two figures above ($934,878 * .005 = $4,662). This gives us the total county expenditures allocated to the future nonresidential development. 7