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Revenues Generated by a Mobile Home Park <br />Assumptions <br />The County receives revenue from several sources at the federal, <br />state and local levels. For all the case studies in this analysis <br />it will be assumed that revenue from federal and state sources will <br />not be greatly changed. In all three (3) development possibilities, <br />mobile home park, single-family residential and industrial, the <br />influx of population as a result of development will not be great <br />enough to significantly alter the amount of revenue which the federal <br />or state government allots to Indian River County. So, only the <br />change in local revenues, as the result of development of the <br />proposed site will be evaluated. <br />Analysis <br />The proposed site is ± 135 acres in size. There is a mutual under- <br />standing between staff and the applicant that 15 acres will be <br />used for a lake and drainage improvements. In addition, the gross <br />density for mobile home development was established at 6 units/acre. <br />Using these figures, the revenue calculations in this analysis will <br />be based on a total of 720 mobile homes in the proposed development. <br />Mobile home parks generate revenue for the County from an ad <br />valorem tax on the value of the total development, its land and <br />improvements, as well as from tag fees for each mobile home unit. <br />Staff's analysis is based on a maximum of 720 mobile homes and <br />---a-sessed at a millage of $10.90 per $1,000 of assessed value, or <br />a rate of .0109. This millage rate was provided by the Indian <br />River County Property Appraiser's Office and is that for the taxing <br />district where the proposed development would be located. The <br />valuation figures for the development are those provided by the <br />applicant, in a letter to the department on August 24, 1982. <br />Using this information the revenue generated by the proposed mobile <br />home park is calculated in Table 3. <br />TABLE 3 <br />Revenues from Proposed Mobile Home Park Development <br />1. Ad Valorem Tax Including: <br />Assessed Land Value: <br />Assessed Value of <br />Improvements to <br />Land: <br />Assessed value of <br />Pads: <br />2. Tag Fees: <br />$1,620,000 x .0109 Mills $17,658 <br />$ 800,000 x .85 x <br />.0109 Mills $ 7,412 <br />$ 5,500 x 720 x <br />.0109 Mills $43,164 <br />720 mobile homes x $73.506 Average, • <br />only one-half of which $26,460 <br />County goes to the <br />Total Revenues Assignable to Proposed Mobile <br />Home Park <br />$94,694 <br />Net Fiscal Impact of Mobile Home Development <br />According to the preceding data, the cost to the County ofIa Mobile <br />Home Park development on the proposed site would be approximately <br />$1,504,856. The annual tax revenue which the County could expect <br />to generate would be approximately $94,694. Thus the County would <br />have a deficit of $1,410,162. <br />6 From the Indian River County Tax Collectors Office; it is the to <br />fee for a 24 x 50 trailer. g <br />NOV 17 1982 -5- - pox 2 PAnf 97 <br />