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Y <br /> Tax Assessment Impact: <br /> Any time property is developed or improved it is reasonable <br /> to assume that the marketability of adjacent lands will <br /> increase above their present level. This normally appears <br /> as increased value and the County Tax Assessor adjusts his <br /> figures accordingly, basing his assessments' upon the market <br /> value of surrounding land. <br /> The two subject parcels are in tax code area 096-070 which <br /> has a tax rate (in 1974-75) of $10.5779 on the net total of <br /> land, improvements and personal property per $100.00 of <br /> assessed value. The rate on land only per $100.00 assessed <br /> is $.25 and on land and improvements per $100.00 assessed <br /> is $ .0680. In fiscal year 1973-74 the rates were $10.4487, <br /> $ .2500 and $.0680, respectively. The subject proposal <br /> covers two parcels (Assessor' s numbers 087-054-01 and 17) . <br /> Parcel 01 has an assessed valuation of $9,400.00 on land <br /> and improvements. On Parcel 17 the assessed valuation is <br /> $7,975.00. Market value is four times the assessed value. <br /> How much this subdivision will increase the value of the <br /> subject property and neighboring properties cannot be <br /> determined at this time. <br /> -5- <br />