Fiscal Impact Analysis

example

FISCAL IMPACT ASSESSMENT FOR RESIDENTIAL DEVELOPMENT
PER CAPITA – AVERAGE COSTING
DATA INPUT SHEET
1.0 Market Value of Home
a Senior Housing (over 55)
b Single Family Blend $350,000.00
c 1-2 Bedroom units
d 3 bedroom units
e 4 bedroom units DEVELOPMENT
f 5+ bedroom units SPECIFIC
2.0 Number of new homes in development
a Senior Housing (over 55)
b Single Family Blend 10
c 1-2 Bedroom units
d 3 bedroom units
e 4 bedroom units
f 5+ bedroom units
3.0 Residential Assessment Ratio for Tax Purposes 100.00%
4.0 Residential Tax Rate per $1,000 $16.01
5.0 Total Tax Levy $32,197,462.00
6.0 Total School Budget 29,615,471.00 MUNICIPAL
DATA
7.0 School Aid from State $12,430,645.00
8.0 Number of School Children 4,904
9.0 Current Local School Cost per Student $3,504.25
10.0 Current State School Aid per Student $2,534.80
11.0 School Aged Children Multiplier
a Senior Housing (over 55) 0.00
b Single Family Blend 0.89
c 1-2 Bedroom units 0.24 STANDARD
d 3 bedroom units 0.79 MULTIPLIERS
e 4 bedroom units 1.50
f 5+ bedroom units 2.05
12.0 Other Misc. Revenue from Local Receipts $10,609,073.00
13.0 Appropriated Expenditures excluding schools $28,921,822.00
MUNICIPAL
14.0 Residential Proportion of real property 75.00% DATA
15.0 Existing Residential Units 7,610
16.0 Median Home Value in Witch Hazel $250,000
COMPUTER GENERATED CALCULATIONS
FISCAL IMPACT OF RESIDENTIAL DEVELOPMENT
I REVENUE FROM NEW RESIDENTIAL DEVELOPMENT
A. Revenue from Property Tax on Development
A-1. Market Value of Development $3,500,000.00
multiplied by
A-2. Assessment Ratio 100.00%
A-3. Actual Assessed Value $3,500,000.00
multiplied by
A-4. Residential Tax Rate /$1000 $16.01
A-5. Estimated Property Tax Revenue $56,035.00
B. Other Miscellaneous Revenue
B-1. Miscellaneous Revenue $10,609,073.00
multiplied by
B-2. Residential Proportion of all Property 75.00%
B-3. Miscellaneous Revenue from Residential Use $7,956,804.75
divided by
B-4. Number of Residential Units 7,610
B-5. Miscellaneous Revenue per Housing Unit $1,045.57
B-6. Number of new homes 10.00
B-7. Estimated Additional Miscellaneous Revenue $10,455.72
C. Additional State School Aid
C-1. State School Aid (Chapter 70) $12,430,645.00
divided by
C-2. Number of School Children 4,904.00
C-3. School Aid per Student $2,534.80
multiplied by
C-4. Number of Students in New Development 8.90
C-5. Estimated Additional School Aid $22,559.69
D Total Estimated Revenue $89,050.42
II COSTS DUE TO NEW RESIDENTIAL DEVELOPMENT
A. School Costs Due to Development
A-1. Current School Cost per Student $6,039.04
A-2. Number of Students in New Development 8.90
A-3. Total School Cost per Year $53,747.49
B. Service Costs Due to Development
(Costs associated with Library, Health, Recreation,
Police, Fire and Road Maintenance)
B-1. Town expenditures excluding Schools $28,921,822.00
multiplied by
B-2. Residential portion of All Property 75.00%
B-3. Service Costs due to Residential $21,691,366.50
divided by
B-4. # of Residential Units 7,610.00
B-5. Service Cost per unit $2,850.38
B-6. Number of Homes in New Development 10.00
B-7. Town Service Costs for Residential units $28,503.77
III Net Fiscal Impact Resulting from Development
A Total Revenue from Residential Development $89,050.42
B Total Costs due to Residential Development $82,251.26
C Net Fiscal Impact per Year $6,799.16
IV. Change in Tax Rates due to New Development
(negative numbers indicate a decrease in
tax payments, thus a gain to homeowner)
A Change in Town Tax Rate
A-1. Total Tax Levy $32,197,462.00
divided by
A-2. Tax Rate/Thousand $16.01
A-3. Amount affecting Tax Rate $2,011,084.45
by one dollar
A-4. Net Fiscal Gain $6,799.16
divided by
A-5. Amount affecting Tax Rate $2,011,084.45
by one dollar
A-6. Change in Tax Rate ($0.00338)
A-7. Impact on Average Home Owner
A-8. Cost of Home $250,000.00
A-9. Tax Rate per 1000 at Present $16.01
A-10. Annual Tax Payment without Further Growth $4,002.50
A-11. Cost of Home $250,000.00
A-12. Tax Rate per 1000 after New Development $16.01
A-13. Annual Tax Payment after New Development $4,001.65
A-14. Local Tax Impact after New Development ($0.85)

assgnment 2 – populate

FISCAL IMPACT ASSESSMENT FOR RESIDENTIAL DEVELOPMENT
PER CAPITA – AVERAGE COSTING
DATA INPUT SHEET
1.0 Market Value of Home
a Senior Housing (over 55)
b Single Family Blend
c 1-2 Bedroom units
d 3 bedroom units
e 4 bedroom units DEVELOPMENT
f 5+ bedroom units SPECIFIC
2.0 Number of new homes in development
a Senior Housing (over 55)
b Single Family Blend
c 1-2 Bedroom units
d 3 bedroom units
e 4 bedroom units
f 5+ bedroom units
3.0 Residential Assessment Ratio for Tax Purposes
4.0 Residential Tax Rate per $1,000
5.0 Total Tax Levy
6.0 Total School Budget MUNICIPAL
DATA
7.0 School Aid from State
8.0 Number of School Children
9.0 Current Local School Cost per Student
10.0 Current State School Aid per Student
11.0 School Aged Children Multiplier
a Senior Housing (over 55) 0.00
b Single Family Blend 0.89
c 1-2 Bedroom units 0.24 STANDARD
d 3 bedroom units 0.79 MULTIPLIERS
e 4 bedroom units 1.50
f 5+ bedroom units 2.05
12.0 Other Misc. Revenue from Local Receipts
13.0 Appropriated Expenditures excluding schools
MUNICIPAL
14.0 Residential Proportion of real property DATA
15.0 Existing Residential Units
16.0 Median Home Value in Witch Hazel
COMPUTER GENERATED CALCULATIONS
FISCAL IMPACT OF RESIDENTIAL DEVELOPMENT
I REVENUE FROM NEW RESIDENTIAL DEVELOPMENT
A. Revenue from Property Tax on Development
A-1. Market Value of Development $ –
multiplied by
A-2. Assessment Ratio 0.00%
A-3. Actual Assessed Value $ –
multiplied by
A-4. Residential Tax Rate /$1000 $ – 0
A-5. Estimated Property Tax Revenue $ – 0
B. Other Miscellaneous Revenue
B-1. Miscellaneous Revenue $ –
multiplied by
B-2. Residential Proportion of all Property 0.00%
B-3. Miscellaneous Revenue from Residential Use $ –
divided by
B-4. Number of Residential Units 0
B-5. Miscellaneous Revenue per Housing Unit $ –
B-6. Number of new homes 0.00
B-7. Estimated Additional Miscellaneous Revenue $ – 0
C. Additional State School Aid
C-1. State School Aid (Chapter 70) $ –
divided by
C-2. Number of School Children 0
C-3. School Aid per Student $ –
multiplied by
C-4. Number of Students in New Development 0.00
C-5. Estimated Additional School Aid $ – 0
D Total Estimated Revenue $ – 0
II COSTS DUE TO NEW RESIDENTIAL DEVELOPMENT
A. School Costs Due to Development
A-1. Current School Cost per Student $ –
A-2. Number of Students in New Development 0.00
A-3. Total School Cost per Year $ – 0
B. Service Costs Due to Development
(Costs associated with Library, Health, Recreation,
Police, Fire and Road Maintenance)
B-1. Town expenditures excluding Schools $ –
multiplied by
B-2. Residential portion of All Property 0.00%
B-3. Service Costs due to Residential $ –
divided by
B-4. # of Residential Units 0
B-5. Service Cost per unit $ –
B-6. Number of Homes in New Development 0
B-7. Town Service Costs for Residential units $ –
III Net Fiscal Impact Resulting from Development
A Total Revenue from Residential Development $ –
B Total Costs due to Residential Development $ –
C Net Fiscal Impact per Year $ –
IV. Change in Tax Rates due to New Development
(negative numbers indicate a decrease in
tax payments, thus a gain to homeowner)
A Change in Town Tax Rate
A-1. Total Tax Levy $ –
divided by
A-2. Tax Rate/Thousand $ –
A-3. Amount affecting Tax Rate $ –
by one dollar
A-4. Net Fiscal Gain $ –
divided by
A-5. Amount affecting Tax Rate $ –
by one dollar
A-6. Change in Tax Rate $ – 0
A-7. Impact on Average Home Owner
A-8. Cost of Home $ –
A-9. Tax Rate per 1000 at Present $ – 0
A-10. Annual Tax Payment without Further Growth $ – 0
A-11. Cost of Home $ –
A-12. Tax Rate per 1000 after New Development $ – 0
A-13. Annual Tax Payment after New Development $ – 0
A-14. Local Tax Impact after New Development $ – 0