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Page 5 of 7 <br />Fellsmere Road Maintenance Workshop <br />For June 27, 2016 <br />Staff has conducted a basic analysis of the area that would be covered by an MSTU or MSBU for road <br />grading proposed in this option. The total taxable value and acreage of parcels, as well as estimated <br />assessment rates is shown in the tables below. The first table shows the estimated millage rate for an <br />MSTU established to finance the cost of Option 3. Based upon the 2015 taxable value, the estimated <br />millage rate would be 1.4981 mills. It should be noted here that the County provides a 25% contribution <br />when an area is assessed for road paving or road millings. Based upon this policy, it may be appropriate <br />to provide a 25% contribution to offset the costs for the area property owners. This would reduce the <br />millage rate to 1.1236 mills The owner of a property with a taxable value of $150,000 would pay an <br />annual tax of $168.54 under this option. <br />Estimated Impact — MSTU Funding for Option 3 <br />Item Description <br />Est. Annual Amount <br />Annual Operating Costs <br />$165,626 <br />5% Revenue Collection Factor <br />$8,717 <br />Gross Assessment Revenue Required <br />$174,343 <br />Taxable Value - 2015 <br />$116,378,430 <br />Est. Millage Rate —100% Assessment <br />1.4981 mills <br />Less 25% County Contribution <br />(0.3745 mills) <br />Est. Millage Rate — 75% Assessment <br />1.1236 mills <br />Typical House Analysis <br />Assume $150,000Taxable Value <br />Typical House Estimated Ad Valorem Impact <br />$168.54 <br />Note: The table above is an estimate only. It is based upon annual estimated operating costs <br />associated with the new grader route It does not include funding for additional material that may <br />be needed to establish a proper road base. It also does not include any funding for right of way and - <br />or easements that need to be acquired as many roadways fall partially or fully on private property. <br />The cost to bring these roads up to Green Book Standards will be significant. A cost estimate has not <br />been provided here, since these costs will vorysignificantly based upon the unique conditions of each <br />roadway. <br />C:\Dscrs\rszpyrka\Desktop\Pellsmcre Rater Control District RoadwaysWellsmerc Unpaved Road Maintenance Agenda for June 27, 201(i.doc <br />f <br />5 <br />