Res 2011-145 - Laserfiche WebLink

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Participating Jurisdictions Taxing Jurisdiction 2011 Total Tax Rate (1) % Dedicated City of San Marcos $0.53020/$100 70% Hays County $0.42480/$100 70% (1) 2011 Tax Rate for purposes of illustration only. Tax Rate will be levied from year to year by the City and County, respectively, and will vary. City of San Marcos Zone No. 5 Project Plan and Financing Plan 15 Draft 11/10/2011 Financing, Expected Sources of Revenue 6. A description of the methods of financing all estimated project costs and the expected sources of revenue to finance or pay Project Costs, including the percentage of tax increment to be derived from the property taxes of each taxing unit that levies taxes on real property in Zone No. 5. Methods of Financing. The Project Costs will be paid directly for site improvements or tax increment will be used to reimburse a developer for certain Zone No. 5 Project Costs. Project Costs will be paid soley from tax increment revenues of Zone No. 5 as they are realized by Zone No. 5. Sources of Tax Increment Revenue. The tax increment revenue necessary to pay the Zone No. 5 Project Costs is expected to come from increased property values in Zone No. 5 due to the construction of improvements. Schedule B displays the projected assessed valuations resulting from the construction are shown in Schedule D. These new tax increment revenues will be used to pay or reimburse a developer for Zone No. 5 Project Costs. This Plan is based on a contribution rate (and current tax rates which are subject to change) shown from the City and County.