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• <br /> 3111 Silver Lake Road: <br /> Purchase Price = $42,800 <br /> Current Valuation $ 40,000.00 <br /> Taxes '95 $ 541.00 <br /> Redeveloped Valuation $170,000.00 <br /> Taxes after redevelopment $ 3.622.00 <br /> Increase is annual taxes collected $ 3,081.00 <br /> Years to pay back: <br /> Purchase Price $ 42,800.00 <br /> Incedentials $ 29000.00 <br /> Less: <br /> Sale of lot. ($ 30.000.00) <br /> Net Costs $ 14,800.00 <br /> A) All Taxing Districts: <br /> $14,800/3,081.00 = 4.8 Years to Pay Back <br /> B) City Portion of Taxes only: <br /> ($3,622.00 X Current Tax Rate .25932 = $939.00) <br /> New City Tax Portion $939.00 <br /> Less Old City Tax Portion $140.00 <br /> Increase $799.00 <br /> $14,800/$799.00 = 18.5 Years to Pay Back <br />