C152718 Feasibilty Study - Laserfiche WebLink

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I I I, I I I I I I I I I I I ~ I I I I I PAST TAX REVENUE The District has assessed a mille\-}' on property located in the' District since inception. The Ie\-}' was initially 2 mils, varied in amount from 1988 through 1991, and has remained at 1.824 since. Some water is served to users outside of the District who are not subject to property taxes. Those users are charged a payment itl-Iieu of taxes to generate income comparable to that which would be generated if they were located within the District. Both property tax revenue and payment in lieu of tax revenue ;l1"e classified herein as tax revenue. The property of Excel Corporation is not located within the District. When Excel disconnects from the system in year 2000 the payment itl- lieu of tax revenue collected from that tap will be discontinued. The followillg table identifies collections since 1985. Excel is identified separately so the loss of that revenue can be eliminated from future anticipated revenue. TABLE NUMBER 6 PAST TAX REVENUE YEAR MIL LEVY REVENUE REVENUE EXCEL NET ADJUSTED TO PAYMENT REVENUE A MIL LEVY IN LIEU WITHOUT OF 1.824 MILS OF TAX EXCEL 1985 2.000 $215,700 $196,718 1986 2.000 $210,725 $192, 181 1987 2.000 $214,164 $195,318 1988 1.919 $246,889 $234,667 1989 1.995 $225,564 $206,230 1990 2.060 $239,482 $212,046 1991 1.760 $210,520 $218,175 $1,162 $217,013 1992 1.824 $216,722 $216,7~2 $7,594 $209,128 1993 1.824 $234,199 $234,199 $16,662 $217,537 1994 1.824 $239,670 $239,670 $18,087 $223,920 1995 1.824 $263,509 $263,509 $21,884 $241,625 1996 1. 824 $266,456 $266,456 $23,657 $242,799 FUfURE TAX REVENUE Exhibit Number Eight located at the back of me report shows a prediction of future anticipated tax and payment in lieu of tax revenue. The future prediction is based on an extrapolation of revenue received over the last ten years. 13