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MalnPlace Mall <br />Net Fiscal Impact and Economic Analysis <br />December 2018 <br />Page 21 of 33 <br />5.0 Fiscal Impacts <br />This Analysis is based on information provided by the Developer, the City of Santa Ana ("City"), <br />Orange County ("County") Property Tax Auditor -Controller's Office, California Department of <br />Finance ("DOF"), California Board of Equalization ("BOE"), U.S. Census, U.S. Bureau of Labor <br />Statistics ("BLS"), and ESRI. <br />5.1 General Assumptions <br />Unless otherwise noted, the subsequent analysis maintains the following assumptions. <br />• Dollar amounts are expressed in 2018 dollars. <br />• Fiscal impacts are estimated at full build -out and stabilized occupancy. <br />• Employment figures are permanent FTE jobs. <br />5.2 Fiscal Revenue Analysis <br />5.2.1 Property Tax <br />Secured properly tax revenues are estimated based on the anticipated assessed value of the <br />Project upon full build -out and the applicable property tax rates for the City (see Exhibit 5.2,1). <br />Acquisition costs were not included as part of the analysis, as the subject property Is already on <br />the tax rolls and title is vested under the Developer's name. <br />According to the Assessor's office, there are a total of 14 Assessor Parcel Numbers (APNs) <br />associated with the Site. The various properties are located in a total of 3 different Tax Rate <br />Areas ("TRAs") namely, 11-015, 11-053, and 11.054. The apportionment to the City is similar <br />for the various TRAs. The City general fund receives an approximate 18.16% share of the <br />annual 1.0% secured property tax general levy placed by the County on the assessed value of <br />the property ($0.1816 of each $1.00 of secured property tax revenue) within the TRAs. <br />Unsecured property taxes are collected based on the assessed value of real property not affixed <br />to the underlying land, such as business fixtures, and some types of vehicles. The rate of <br />taxation and apportionment is generally the same as for secured property taxes. In the City's <br />2017 Comprehensive Annual Financial Report, the City reported that the assessed value of <br />unsecured property is estimated to be approximately 6.5% of the assessed value of secured <br />property. <br />The analyses, projections, assumptions, and any examples presented heroln are for <br />Illustrative purposes and are note guarantee of actual end/or futuro results. Tax analyses <br />kosrr� ll. are projections only. Actual results may differ from those expressed in this analysis. <br />75D-556 <br />