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<br />Current Total Appraised Value of Taxable Real Property <br /> <br />Table E lists the current appraised value of the taxable property in the <br />Zone. The five acres of land owned by the City of San Marcos is tax <br />exempt. <br /> <br />Table E <br />Current Appraised Value of Taxable Property <br /> <br /> <br />Acrea e <br />10 <br />5 <br />15 <br /> <br />Taxable Value <br />$1,306,800 <br />o <br />$1,306,800 <br /> <br />Estimated Captured Appraised Value of the Zone During Each <br />Year of Existence <br /> <br />It is projected by the City that taxable property values will increase <br />approximately 1 % per year. Exhibit E shows the annual captured <br />appraised value of these increases in property value during the build <br />out period. <br /> <br />Duration of the Zone <br /> <br />The City of San Marcos shall establish the Zone by ordinance. The <br />ordinance shall establish that the Zone will take effect August 15, 2006 <br />and termination of the Zone will occur on September 30, 2030. The <br />Zone may terminate at an earlier time designated by subsequent <br />ordinance. <br /> <br />8 <br />