Laserfiche WebLink
Final Draft O429.2O2O <br />Financing, Expected Sources pfRevenue <br />G. Adescription ofthe methods offinancing all estimated project costs and the expected sources <br />mfrevenue tmfinance mrpay Project Costs, including the percentage mftax increment tobederived <br />from the property taxes of each taxing unit that levies taxes on real property in Zone No. S. <br />Methods ufFinancing. The Project CostswjUbepaiddinect|yforsiteirnproxennentoforoertain <br />Zone No. 5Project Cods.P 'ertCoatsvviUbepaidoo|dyfronotoxincrenmentnevenuesofZoneNo.S <br />osthey are realized byZone No. 5. <br />Sources of Tax Increment Revenue. The tax increment revenue necessary to pay the Zone No. 5 <br />Project Costs is expected to come from increased property values in Zone No. 5. Schedule B displays <br />the projected assessed valuations resulting from increases in value. These new tax increment <br />revenues will beused topay for Zone No. 5Project Coots. <br />This Plan is bayed on a contribution rate (and current tax rates which are subject to change) shown <br />from the City and County. <br />Table No. 3 Participating Jurisdictions <br />Taxing Jurisdiction 2019 Tax Rate (i) % Dedicated <br />City of San M a rcos $0.6139/$100 70% <br />(1)019Tax Rate for purposes ofillustration only, Tax Rate will be levied from <br />year myear bythe City and County, respectively, and will vary. The zn19 <br />total tax rate does not include the Road and Bridge rate. <br />Current Appraised Value of Property <br />7' Current Total Appraised Value ofProperty inZone No. G <br />The total current appraised value within Zone No. 5asofJuly 22,2U18isS2G5,192,288. <br />Estimated Captured Value <br />8. Estimated Captured Value mfZone No. 5/nEach Year ofExistence <br />The estimated captured appraised value of Zone No. 5 during each year of its existence is shown on <br />Schedule B - ProjectedAssessedVn|uation. <br />Duration mfZone <br />9. Duration ofZone <br />The duration of Zone No. 5 was through December 31, 2027. Zone No. 5 took effect on the date it <br />was created, being December 14, 2011. The City Council established January 1, 2011 as the base year <br />of Zone No. 5. The term of Zone No. 5 has been extended and is currently scheduled to terminate on <br />December 31,ZO27. <br />Citv of San Marcos <br />Zone No. S Project Plan and Financing Plan 10 <br />