Agenda Packets - 1982/10/25 - Laserfiche WebLink

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* Includes homestead credit. ** 100,000 square feet total one unit. Fiscal Impact Analysis — Expenditures The intent of the tables on the following pages is to attempt to predict the public governmental costs of increased public service demands ,due to various forms of residential and nonresidential growth. These tables project only the primary costs that might be incurred and the Immediate revenues that could be generated. These primary revenues include property taxes generated as a result of specific development by type. Primary costs include operating costs suelt as police and fire salaries needed to fulfill public demand for services. Secondary costs and benefits such as development influence on property values are not considered due to the diffi— culty in accurately assessing those costs and the potential for double counting the effects. Residential Development Expenditures Table 2 was developed using an analysis technique that can be used for residential development only. Toral annual expenditure and expenditures per capita are computed using methods developed for IIUD by the Center for Urban Policy Research at Rutger's University. Using this technique, specific costs per capita can be assigned to population generators. Demographic multipliers indicate the typical household size and numbers of students in a given type of dwelling unit. For example, a single family residence in this region will typically house 3.697 persons of whom 1.142 will be primary and/or secondary students. The total number of anticipated residents and students can be computed by multiplying the number of units by the multiplier. In addition, this fiscal impact method relies on information on estimated market valuation of real property as compiled by Ramsey County. This informaton points out the residential nature of the city of Mounds View. 1981 estimated market value of all parcels of real property in the eiLy of 'riuuuun View is y214,929,741.00. 0f that emniint apooximately 84% ($179,672,398.00) is single family residential with an addi— tional 9% ($18,848,537.00) estimated market value in apartments and mobile homes. There were 3,442 total parcels in Mounds View in 1981. Of these 3,298 were classified residential (single and two family homes), 57 were apartments with 702 units, and 5 are mobile home parks (579 units in 1982). 75 commercial parcels and 7 indus— trial parcels were valued at $16,409,006.00. Approximately 7% of the total estimated market value of the community is commercial and industrial. IF (2)