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Smith County - Public Hearing

Smith County - Public Hearing. TRZ Description & Boundary. Based initially from 1-mile off centerline for Toll 49 alignment Included all GIS parcels for TRZ boundary if the center of the parcel was within the TRZ buffer boundary

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Smith County - Public Hearing

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  1. Smith County - Public Hearing TRZ Description & Boundary • Based initially from 1-mile off centerline for Toll 49 alignment • Included all GIS parcels for TRZ boundary if the center of the parcel was within the TRZ buffer boundary • Identified properties likely owned by public sector and nontaxable • Adjusted boundary to include / exclude parcels • Approximately 11,600 parcels and 69,400 acres • TRZ parcels were allocated into three broad categories • Identified (11,300 parcels and 66,400 acres) • Non Taxable / Exempt (270 parcels and 2,600 acres) • Unidentified (50 parcels and 360 acres)

  2. Smith County - Public Hearing TRZ Boundary “Buffer”

  3. Smith County - Public Hearing TRZ Boundary & Parcels

  4. Smith County - Public Hearing TRZ Taxable Value – Smith County Appraisal District *The Other land use category incudes utilities, mobile homes, residential inventory, and parcels that matched but the land use data was missing from the appraisal database.

  5. Smith County - Public Hearing TRZ Boundary & Parcels by Land Use (2013)

  6. Smith County - Public Hearing TRZ Revenue Forecast Assumptions • Assumed 25 year forecast period • Allocated 50% of tax revenue to the TRZ • Two tax rates were applied for the forecast period: • Constant 2012 tax rate ($0.323564 per $100 valuation) • Tax rate based on 20 year historic trend • Used a 5.0 percent discount rate as part of the net present value calculation • Developed three major growth scenarios for TRZ • Scenario 1 represents the baseline forecast. • Scenario 2 assumes Toll 49 is built over the next 5 to 10 years. • Scenario 3is consistent with the growth of the study area as whole between 1990 and 2010.

  7. Smith County - Public Hearing TRZ Revenue Forecast by Scenario @ 50% Allocation • Over 25 years at a constant tax rate, the TRZ is projected to generate between $30.8M and $40.9M • Using a discount rate of 5 percent, the TRZ is projected to generate between $12.9M and $16.9M over this same period.

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