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Yeal 1........:...100% <br />Year 7 .............60% . <br />Year 2....... <br />, ...100% <br />Year 3........:..100% <br />Year 4............90% <br />Year 5.........:..80% <br />Ye ar: : 6 ............. 7.013-1/o. <br />Year 7 .............60% . <br />- - Year 8 .............50!m <br />Year 9 .............44:0% <br />-Year 10............3:1) <br />A tabes abated scenario for the PCP Tactical, LLC facility, based on applicant's estimates and based on <br />certain assumptions stated below, is as follows.: <br />Assumptions: <br />(a) No additional real property or tangible personal property improvements are made <br />during the abatement period. <br />(b) The 2020/2021 millage rates for the General Fund (3.5475 mills), MSTU (1.1506 mills), <br />and Emergency Services District (2.3531 mills) tax funds are applied each year during <br />the tax abatement period for a total of 7.0512 mills and the rate for other property taxes <br />remains at 8.1642 mills (rate for 2020/2021) each year during the tax abatementperiod. <br />(c) The initial assessed value ofcompleted improvements in Year I ofthe-abatementperiod <br />is $3,810,000. <br />(d) Depreciation of the initial assessed value of tangible personal property ($810, 000) is <br />applied at a rate of 10%per year with a floor at 35% of initial assessed value for years <br />8, 9, and 10. <br />(e) No change in the assessed value of the real property improvements ($3. OM) during the <br />abatement period. <br />69 The highest category of tax abatement award is applied during the tax abatement <br />period. <br />F:\Community Development\Users\EDplannr\INCENTIVES & FUNDING\Tax Abatements\Applications\Confidential - C\BCC Agenda 4 <br />Item\BCC Item - PCP Tactical ad valorem report v2.doc <br />'Es <br />L � L �•�:� <br />-Y-,- -+. a L•s r�v'r a�.� <br />4W�.v'fY'�'n t 3+Jfi' � t q n <br />`.. g�°.'I 'G Fri " p +s <br />� a-% ,� 'ri_i i`t ,�'£i? � <br />1 <br />INC <br />• � <br />' <br />' , ' <br />iiiiii� <br />Assumptions: <br />(a) No additional real property or tangible personal property improvements are made <br />during the abatement period. <br />(b) The 2020/2021 millage rates for the General Fund (3.5475 mills), MSTU (1.1506 mills), <br />and Emergency Services District (2.3531 mills) tax funds are applied each year during <br />the tax abatement period for a total of 7.0512 mills and the rate for other property taxes <br />remains at 8.1642 mills (rate for 2020/2021) each year during the tax abatementperiod. <br />(c) The initial assessed value ofcompleted improvements in Year I ofthe-abatementperiod <br />is $3,810,000. <br />(d) Depreciation of the initial assessed value of tangible personal property ($810, 000) is <br />applied at a rate of 10%per year with a floor at 35% of initial assessed value for years <br />8, 9, and 10. <br />(e) No change in the assessed value of the real property improvements ($3. OM) during the <br />abatement period. <br />69 The highest category of tax abatement award is applied during the tax abatement <br />period. <br />F:\Community Development\Users\EDplannr\INCENTIVES & FUNDING\Tax Abatements\Applications\Confidential - C\BCC Agenda 4 <br />Item\BCC Item - PCP Tactical ad valorem report v2.doc <br />