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Park Bond ESTIMATED Tax Impact <br /> <br /> AVERAGE TAX INCREASE BASED <br /> INTEREST ANNUAL TAX ON 1997 NET TAX CAPACITY <br />BOND ISSUE SIZE RATE TERM .DEBT RATE 100,000 HR 100,000 C/I 500,000 C/I <br />$1,000,000 6.00% 15 110000 0.00926 11.85 27.77 198.07 <br />$2,000,000 6.00% 15 205000 0.01725 22.08 51.75 369.13 <br />$3,000,000 6.00% 15 300000 0.02524 32.31 75.73 540.18 <br /> <br />NOTES: <br /> <br />Interest rate of 6.00% is used as an example only. The actual rate may vary substantially and could <br />significantly change the amount of tax impact. <br /> <br />All assumptions are based on 1997 data. Class rates for taxes payable in 1998 were changed by the <br />1997 Omnibus Tax Bill. This may result in a substantial shift of tax payments from one class to another. <br />The new NTC will not be available from the County for some time. The changes in class rates may <br />cause a notable change in the above estimates. <br /> <br />Average annual debt for each given bond issue is an estimate only. Bond structure, interest rate and <br />other factors will affect the actual annual debt. Bonds issues do not normally have equal annual <br />payments but are structured to fit the revenue stream and other factors of the issue. <br /> <br />The Term used for the estimates is 15 years. Depending on the size and structure of the issue, this may <br />decrease to 10 years. A 10 year term will increase the annual tax impact, or to keep the tax level the <br />same, the issue size would need to be decreased. <br /> <br />HR is Homestead Residential <br />C/I is Commercial Industrial <br /> <br />6/16/97 <br />PARKBOND.XLS <br /> <br /> <br />