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MOORESVILLE (INDIANA) REDEVELOPMENT COMMISSION
<br /> Allocation Areas No. 1 and No. 2 & Expanded No. 2
<br />
<br /> ESTIMATED IMPACT OF PARTIAL PASS-THROUGH
<br /> ON OVERLAPPING TAXING UNITS
<br />
<br /> Net Assessed Estimated
<br /> Town of Mooresville Tax Value of Property
<br /> Taxing Unit Rate Taxing Unit Tax Levy
<br />
<br /> PRESENT SITUATION
<br /> Represents 2002 taxes payable 2003 property tax levies, assessed valuation and tax rates. (I)
<br />
<br /> State $0.0033 NA NA
<br /> Morgan County 0.2130 $2,876,643,691 $6,127,251
<br /> Brown Township 0.0536 526,239,760 282,065
<br /> Library 0.0717 526,239,760 377,314
<br /> School 1.2061 976,670,800 11,779,627
<br /> Corporate (General, MVH, CCD) 0.5558 383,966,030 2,134,083
<br /> Corporate (Park) 0.0688 526,239,760 362,053
<br />
<br /> Total Tax Rate (per $100 AV) $2.1723
<br />
<br /> ASSUMES PARTIAL PASS-THROUGH
<br /> Assumes $7,461,650 of incremental assessed value in excess of the 200% outstanding obligations coverage in
<br /> taxes payable year 2005 from Allocation Areas No. I and No. 2 are passed-through.
<br /> Variance
<br /> From Present
<br /> Situation
<br /> State $0.0033 NA NA $0.0000
<br />W"- Morgan County 0.2125 $2,884,105,341 $6,127,251 (0.0005)
<br />(',,.._ Brown Township 0.0529 533,701,410 282,065 (0.0007)
<br /> Library 0.0707 533,701,410 377,314 (0.0010)
<br /> School 1.2009 984,132,450 11,818,539 (0.0052)
<br /> Corporate (General, MVH, CCD) 0.5453 391,427,680 2,134,083 (0.0105)
<br /> Corporate (Park) 0.0679 533,701,410 362,053 (0.0009)
<br />
<br /> Total Tax Rate (per $100 AV) I $2.1535 I I ($0'0188)1
<br />
<br /> Assume $35,000,000 of incremental assessed value is passed-through beginning in 2007.
<br /> Variance
<br /> From Present
<br /> Situation
<br /> State $0.0033 NA NA $0.0000
<br /> Morgan County 0.2105 $2,911,643,691 $6,127,251 (0.0025)
<br /> Brown Township 0.0503 561,239,760 282,065 (0.0033)
<br /> Library 0.0673 561,239,760 377,314 (0.0044)
<br /> School 1.1824 1,011,670,800 11,962,152 (0.0237)
<br /> Corporate (General, MVH, CCD) 0.5094 418,966,030 2,134,083 (0.0464)
<br /> Corporate (Park) 0.0646 561,239,760 362,053 (0.0042)
<br />
<br /> Total Tax Rate (per $100 AV) I $2.0878 I I ($0'0845)1
<br />
<br /> (1) Based on information provided by the Indiana Department of Local Government Finance.
<br />
<br /> PRELIMINARY DRAFT
<br /> For Review and Discussion
<br /> Prepared by: H.J. Umbaugh & Associates
<br /> December 9, 2003
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