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Memo to Planning Commission/0A96-2 Page 5 <br /> April 23, 1996 <br /> • Business A <br /> Land Value 40,000 <br /> Building Value X61000 <br /> Total Value 366,000 <br /> Total Taxes 15,962 <br /> County 3,591 <br /> City 3,662* <br /> School District 8,501 <br /> HRA/EDA 207 <br /> The City's portion of the property tax is roughly 22% of the total tax which in <br /> this example is $3,662.00 annually. <br /> To try and draw a comparison between development without services and one <br /> with municipal services, the following was selected. <br /> This illustration is an example of a 28,000 square foot industrial project in <br /> the Elk River industrial that has city water and sewer the following example <br /> IDhas been selected: <br /> Business B <br /> Land Value 59,400 <br /> Building Value 1,9 0,_64Q <br /> Total Value 1,150,000 <br /> Total Taxes 55,354 <br /> County 12,470 <br /> *City 12,714* <br /> School District 29,450 <br /> HRA/EDA 720 <br /> Options to Consider <br /> As mentioned above, staff has not found a community that has an ordinance <br /> designed to satisfy both the public and private interest. Therefore, staff's <br /> efforts have basically been an attempt to design a new ordinance tailored to <br /> . meet Elk River's needs. If it is the desire of the Planning Commission to <br /> amend the ordinance, one option is to require a conditional use permit. The <br /> s:\planning\pc\oa96-2xx.doc <br />