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Okaloosa County BOCC — February 17, 2015 — Exhibit B - Okaloosa Property Appraiser Calculations for Project Proud — reading text
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Exhibit B
Project Proud County Abatements (10-Year Duration)
2016 Tax Start Year
Year Tax Amounts - County Only (3.4308 Millage)
Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Total
Tangible Personal Property Taxes 4,649 9,058 8,352 7,563 6,788 5,916 4,891 3,917 3,196 2,794 57,124 45,548
Real Property Taxes on Building Only 2,636 2,636 2,636 2,636 2,636 2,636 2,636 2,636 2,636 2,636 26,360 18,452
7,285 11,694 10,988 10,199 9,424 8,552 7,527 6,553 5,832 5,430 83,484 64,000
18,979 29,967 40,166 49,590 58,142 65,669
Tangible Personal Property
Total Cost Estimate Total Asmt Abatable Tax Cumulative Tax Amounts
$3,000,000 ($1,500,000-2015, $1,500,000-2016) Per Year Amount/Year Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10
2016 Taxable Value (100% of Asmt) 1,355,000 4,649 4,649
2017 Taxable Value (100% of Asmt) 2,640,200 9,058 13,707
2018 Taxable Value (100% of Asmt) 2,434,400 8,352 22,059
2019 Taxable Value (100% of Asmt) 2,204,450 7,563 29,622
2020 Taxable Value (100% of Asmt) 1,978,550 6,788 36,410
2021 Taxable Value (100% of Asmt) 1,724,450 5,916 42,326
2022 Taxable Value (100% of Asmt) 1,425,500 4,891 47,217
2023 Taxable Value (100% of Asmt) 1,141,850 3,917 51,134
2024 Taxable Value (100% of Asmt) 931,700 3,196 54,330
2025 Taxable Value (100% of Asmt) 814,250 2,794 57,124
57,124 4,649 13,707 22,059 29,622 36,410 42,326 47,217 51,134 54,330 57,124
Cumulative Tax Amounts
Real Property - Building Only
Assessed Value of Building Only Total Asmt Abatable Tax Cumulative Tax Amounts
(No Land) Per Year* Amount/Year Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10
2016 Taxable Value 768,291 2,636 2,636
2017 Taxable Value 768,291 2,636 5,272
2018 Taxable Value 768,291 2,636 7,908
2019 Taxable Value 768,291 2,636 10,543
2020 Taxable Value 768,291 2,636 13,179
2021 Taxable Value 768,291 2,636 15,815
2022 Taxable Value 768,291 2,636 18,451
2023 Taxable Value 768,291 2,636 21,087
2024 Taxable Value 768,291 2,636 23,723
2025 Taxable Value 768,291 2,636 26,359
26,359 2,636 5,272 7,908 10,543 13,179 15,815 18,451 21,087 23,723 26,359
Cumulative Tax Amounts
2014 Millage Rates Applied (County portion: 3.4308)
Assumes No Change to Millage Rate or TPP Index Rates
Estimate is Based on Market at this Time for Building Information Provided
Assumes Market Value is Consistent for 10 Years