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MOORESVILLE (INDIANA) REDEVELOPMENT COMMISSION
<br />
<br /> Allocation Areas No. 1 and No. 2 & Expanded No. 2
<br />
<br /> ESTIMATED IMPACT OF PARTIAL PASS-THROUGH ON MOORESVILLE SCHOOLS (1)
<br />
<br /> PRESENT SITUATION
<br /> Represents 2002 taxes payable 2003 property tax levies, assessed valuation and tax rates.
<br />
<br /> Revenue from
<br /> MOORESVILLE Property Tax Assessed Property Tax Revenue from Total
<br /> SCHOOL FUNDS Rate Value Levy State Aid Revenue (2)
<br />
<br /> General $0.5186 $976,670,800 $5,065,015 $15,597,336 $20,662,351
<br /> Debt Service 0.3351 976,670,800 3,272,824 3,272,824
<br /> Capital Projects 0.2143 976,670,800 2,093,006 2,093,006
<br /> Transportation 0.0911 976,670,800 889,747 889,747
<br /> Bus replacement 0.0441 976,670,800 430,712 430,712
<br /> Special Ed PS 0.0029 976,670,800 28,323 28,323
<br />
<br /> Total School $1.2061 $11,779,627 $15,597,336 $27,376,963
<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 />
<br />'~ ' Revenue from Variance
<br />'~.- MOORESVILLE Property Tax Assessed Property Tax Revenue from Total From Present
<br /> SCHOOL FUNDS Rate Value Levy State Aid Revenue (2) Situation
<br />
<br /> General $0.5186 $984,132,450 $5,103,711 $15,558,640 $20,662,351 $0.0000
<br /> Debt Service 0.3326 984,132,450 3,272,824 3,272,824 (0.0025)
<br /> Capital Projects 0.2127 984,132,450 2,093,006 2,093,006 (0.0016)
<br /> Transportation 0.0904 984,132,450 889,747 889,747 (0.0007)
<br /> Bus replacement 0.0438 984,132,450 430,712 430,712 (0.0003)
<br /> Special Ed PS 0.0029 984,132,450 28,540 28,540 0.0000
<br />
<br /> Total School $1.2009 $11,818,539 $I5,558,640 $27,377,179 I ($0'0052)1
<br /> I DIFFERENCE ($0.0052) $38,913 ($38,696) $216
<br />
<br /> (1) Based on information provided by the Indiana Department of Local Government Finance.
<br /> (2) Excluding Vehicle Excise Taxes and Financial Institution Taxes.
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<br /> (Continued on next page)
<br />
<br /> PRELIMINARY DRAFT
<br /> For Review and Discussion
<br /> Prepared by: H.J. Umbaugh & Associates
<br /> December 9, 2003
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