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  • Demolition Strategy Revised

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    flippinamsterdam
    45 vues2 pages
    City Tax Rate per thousand assessed $13. User Fees per Unit 769 Total Number of Parcels 55 Total Number of Units 99 Avg Units / Parcel 1. Avg Assessed Value $36,146 Avg Market Value $50,624 Assumptions Demolition Cost 9000 Discount Rate 5% Analysis Approach Net Present Value School Tax and County Tax Ignored Tax Incentive Plan for New Single 50% ofFamily assessed Homes value first 5 years, +10% / year for each year after

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    City Tax Rate per thousand assessed $13. User Fees per Unit 769 Total Number of Parcels 55 Total Number of Units 99 Avg Units / Parcel 1. Avg Assessed Value $36,146 Avg Market Value $50,624 Assumptions Demolition Cost 9000 Discount Rate 5% Analysis Approach Net Present Value School Tax and County Tax Ignored Tax Incentive Plan for New Single 50% ofFamily assessed Homes value first 5 years, +10% / year for each year after

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    45 vues2 pages

    Demolition Strategy Revised

    Transféré par

    flippinamsterdam
    City Tax Rate per thousand assessed $13. User Fees per Unit 769 Total Number of Parcels 55 Total Number of Units 99 Avg Units / Parcel 1. Avg Assessed Value $36,146 Avg Market Value $50,624 Assumptions Demolition Cost 9000 Discount Rate 5% Analysis Approach Net Present Value School Tax and County Tax Ignored Tax Incentive Plan for New Single 50% ofFamily assessed Homes value first 5 years, +10% / year for each year after

    Droits d'auteur :

    Attribution Non-Commercial (BY-NC)
    Téléchargez comme PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    sur 2

    Values

    Row Labels Number of Parcels Sum of Units Sum of Assess Average of Assess2 Average of Market
    210 1 Family Res 12 12 $524,000 $43,667 $60,996
    220 2 Family Res 31 62 $1,138,750 $36,734 $51,548
    230 3 Family Res 2 6 $68,000 $34,000 $47,493
    280 Multiple res 1 2 $80,000 $80,000 $111,747
    311 Res vac land 4 0 $10,200 $2,550 $3,562
    312 Vac w/imprv 1 0 $17,100 $17,100 $23,886
    411 Apartment 4 17 $150,000 $37,500 $52,382
    Grand Total 55 99 $1,988,050 $36,146 $50,624

    Baseline Data (from Montgomery County Tax Rolls and Web Site)
    City Tax Rate per thousand Assessed $13.89
    User Fees per Unit 769
    Total Number of Parcels 55
    Total Number of Units 99
    Avg Units/Parcel 1.8
    Avg Assessed Value $36,146
    Avg Market Value $50,624

    Assumptions
    Demolition Cost 9000
    Discount Rate 5%
    Analysis Approach Net Present Value
    School Tax and County Tax Ignored
    Tax Incentive Plan for New Single
    50% ofFamily
    assessed
    Homes
    value first 5 years, +10%/year for each year after
    Single Family Homes Constructed at 120% of average market value 2008 120% $60,748.95
    City Tax Rate Constant Over 10 years
    User Fees Constant over 10 years

    Scenario 1: ImPerfect World


    Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14
    Number of Parcels 55 55 55 55 55 55 55 55 55 55 55 55 55 55
    Number of Demolitions 10 10 10 10 10 15 15 15 15 15 15 15 15 15
    Net Parcels 45 45 45 45 45 40 40 40 40 40 40 40 40 40
    Net Units 81 81 81 81 81 81 72 72 72 72 72 72 72 72
    Revenue City Tax $22,593 $22,593 $22,593 $22,593 $22,593 $20,083 $20,083 $20,083 $20,083 $20,083 $20,083 $20,083 $20,083 $20,083
    Revenue User Fees $62,289 $62,289 $62,289 $62,289 $62,289 $62,289 $55,368 $55,368 $55,368 $55,368 $55,368 $55,368 $55,368 $55,368
    Total Revenue $84,882 $84,882 $84,882 $84,882 $84,882 $82,372 $75,451 $75,451 $75,451 $75,451 $75,451 $75,451 $75,451 $75,451
    City Revenue NPV $792,858.99

    Scenario 2: 10 Foreclosures/ 10 Demo


    Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14
    Number of Parcels 55 52 49 46 45 45 45 45 45 45 45 45 45 45
    Number of Demolitions 3 3 3 1 0 0 0 0 0 0 0 0 0 0
    Net Parcels 52 49 46 45 45 45 45 45 45 45 45 45 45 45
    Net Units 94 89 84 82 82 82 82 82 82 82 82 82 82 82
    Revenue City Tax $26,108 $24,602 $23,095 $22,593 $22,593 $22,593 $22,593 $22,593 $22,593 $22,593 $22,593 $22,593 $22,593 $22,593
    Revenue User Fees $72,286 $68,441 $64,596 $63,058 $63,058 $63,058 $63,058 $63,058 $63,058 $63,058 $63,058 $63,058 $63,058 $63,058
    Total Revenue Existing $98,394 $93,043 $87,691 $85,651 $85,651 $85,651 $85,651 $85,651 $85,651 $85,651 $85,651 $85,651 $85,651 $85,651

    Demolition Cost $27,000 $27,000 $27,000 $9,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0


    Land Sale $15,000 $15,000 $15,000 $5,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
    New Construction 0 3 3 3 1 0 0 0 0 0 1 0 0 0
    New Construction Units 0 3 6 9 10 10 10 10 10 10 11 11 11 11
    New Construction Market Value $0 $182,247 $364,494 $546,741 $607,490 $607,490 $607,490 $607,490 $607,490 $607,490 $668,238 $668,238 $668,238 $668,238
    City Tax Incentive Discount 0.5 0.5 0.5 0.5 0.5 0.5 0.6 0.7 0.8 0.9 1.0 1.0 1.0 1.0
    Revenue City Tax $0 $1,266 $2,531 $3,797 $4,219 $4,219 $5,063 $5,907 $6,750 $7,594 $9,282 $9,282 $9,282 $9,282
    Revenue User Fees $0 $2,307 $4,614 $6,921 $7,690 $7,690 $7,690 $7,690 $7,690 $7,690 $8,459 $8,459 $8,459 $8,459
    Total Revenue New Construction -$12,000 -$23,427 -$19,855 $1,718 $11,909 $11,909 $12,753 $13,597 $14,440 $15,284 $17,741 $17,741 $17,741 $17,741
    Total Revenue $86,394 $69,615 $67,837 $87,369 $97,560 $97,560 $98,404 $99,248 $100,092 $100,936 $103,392 $103,392 $103,392 $103,392
    City Revenue NPV (5%) $913,813.36
    City Revenue NPV (10%) $666,879.88
    City Revenue NPV (15%) $508,809.05

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