HomeMy WebLinkAboutSpecial 2015-11-10 Attachment 2 - Scenarios and Impacts to Property Owners (Revenue Considerations for Fire Service Decision)REVENUE CONSIDERATIONS
FOR FIRE SERVICE DECISION:
SCENARIOS AND IMPACTS
TO PROPERTY OWNERS
All of these scenarios are based on specific properties in Tukwila, the associated existing property taxes and the actual cost
of the RFA assessment as determined by the Kent RFA. The assessment for the RFA varies depending on a number of factors,
including square footage, fire- suppression logistics and others. As such, the assessment will vary depending on these factors,
and the examples here may not be the same for other properties in Tukwila with the same assessed values.
NO RFA; FIRE CAPITAL FULLY FUNDED BY CITY LEVY
- - - - ASSESSED VALUATION EXAMPLES - - - -
HOMEOWNER IMPACTS $
CURRENT CITY PROPERTY TAX ($2.84/$1,000) $
CITY FIRE CAPITAL LEVY
TOTAL ANNUAL COST TO
PROPERTY OWNERS $
426 $ 710 $ 853
70 117 140
ASSESSED VALUATION EXAMPLES
496 $
827 $ 993
COMMERCIAL PROPERTY IMPACTS
CURRENT CITY PROPERTY TAX ($2.84/$1,000) $
CITY FIRE CAPITAL LEVY
TOTAL ANNUAL COST TO
PROPERTY OWNERS $
$1,000,000 $5,000,000 $10,000,000
2,858
14,125
$ 28,623
470 2,327 4,715
3,328 $ 16,452 $ 33,338
RFA + MINIMUM AMOUNT OF PROPERTY TAX RETAINED: NO ENHANCED SERVICES
HOMEOWNER IMPACTS
CITY PROPERTY TAX ($0.97/$1,000)
KENT RFA ASSESSMENT
TOTAL ANNUAL COST TO
PROPERTY OWNERS
- - - - ASSESSED VALUATION EXAMPLES - - - -
$150,000 $250,000 $300,000
146 $ 243 $ 291
380 567 963
526 $ 810 $ 1,254
COMMERCIAL PROPERTY IMPACTS
CITY PROPERTY TAX ($0.97/$1,000)
KENT RFA ASSESSMENT
TOTAL ANNUAL COST TO
PROPERTY OWNERS
ASSESSED VALUATION EXAMPLES
$1,000,000 $5,000,000 $10,000,000
976 $ 4,826
3,001 10,687
$ 9,780
23,816
3,977 $ 15,513 $ 33,596
RFA + LOW AMOUNT OF PROPERTY TAX RETAINED: $2,000,000 FOR ENHANCED SERVICES
- - - - ASSESSED VALUATION EXAMPLES - - - -
HOMEOWNER IMPACTS
$150,000
$250,000
$300,000
CITY PROPERTY TAX ($1.37/$1,000)
$ 206
$ 343
$ 411
KENT RFA ASSESSMENT
380
567
963
TOTAL ANNUAL COST TO
PROPERTY OWNERS
$ 586
$ 910
$ 1,374
COMMERCIAL PROPERTY IMPACTS
CITY PROPERTY TAX ($1.37/$1,000)
KENT RFA ASSESSMENT
TOTAL ANNUAL COST TO
PROPERTY OWNERS
ASSESSED VALUATION EXAMPLES
$1,000,000 $5,000,000 $10,000,000
1,379 $ 6,814
$ 13,809
3,001 10,687 23,816
4,380 $ 17,501 $ 37,625
RFA + MEDIUM AMOUNT OF PROPERTY TAX RETAINED: $4,000,000 FOR ENHANCED SERVICES
- - - - ASSESSED VALUATION EXAMPLES - - - -
HOMEOWNER IMPACTS
CITY PROPERTY TAX ($1.771$1,000)
KENT RFA ASSESSMENT
TOTAL ANNUAL COST TO
PROPERTY OWNERS $
$150,000 $250,000 $300,000
266
443
531
380
567
963
646 $ 1,010 $ 1,494
COMMERCIAL PROPERTY IMPACTS
CITY PROPERTY TAX ($1.77/$1,000)
KENT RFA ASSESSMENT
TOTAL ANNUAL COST TO
PROPERTY OWNERS $
ASSESSED VALUATION EXAMPLES
$1,000,000 $5,000,000 $10,000,000
1,781
$ 8,802
3,001 10,687
$ 17,837
23,816
4,782 $ 19,489 $ 41,653
RFA + MAXIMUM AMOUNT OF PROPERTY TAX RETAINED: $6,000,000 FOR ENHANCED SERVICES
- - - - ASSESSED VALUATION EXAMPLES - - - -
HOMEOWNER IMPACTS
$150,000
$250,000
$300,000
CITY PROPERTY TAX ($2.325/$1,000)
$ 349
$ 581
$ 698
KENT RFA ASSESSMENT
380
567
963
TOTAL ANNUAL COST TO
PROPERTY OWNERS
$ 729
$ 1,148
$ 1,661
COMMERCIAL PROPERTY IMPACTS
CITY PROPERTY TAX ($2.3251$1,000)
KENT RFA ASSESSMENT
TOTAL ANNUAL COST TO
PROPERTY OWNERS $
ASSESSED VALUATION EXAMPLES
$1,000,000 $5,000,000 $10,000,000
2,338
$ 11,556
3,001 10,687
$ 23,417
23,816
5,339 $ 22,243 $ 47,233