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TABLE 4A <br />ESTIMATE OF SALES TAXES <br />2020 E. 1ST STREET - FISCAL IMPACT ANALYSIS <br />PROPOSED RESIDENTIAL PROJECT <br />Estimate of Household Income <br />Average Sales Price <br />$892,372 <br />Down Payment <br />10% $89,237 <br />Loan Amount <br />$803,135 <br />Interest Rate (a) <br />6.75% <br />Term (Years) <br />30 <br />Annual Mortgage Payments <br />$62,509 <br />HOA Dues (Per Month) $300 $3,600 <br />Maintenance / Insurance (Per Month) $150 $1,800 <br />Property Taxes 1.20% $10,708 <br />Total Annual Housing Costs $78,618 <br />Percent of Income Spent on Housing (b) 37% <br />Average Annual Household Income $214,000 <br />Estimated Sales Taxes Per Unit <br />Percent of Income on Taxable Spending (b) 34.80% <br />City Spending Capture 50.00% <br />Taxable Sales within the City $37,236 <br />City Portion of Base Sales Tax (c) 1.00% $372 <br />Measure X 1.50% $559 <br />Half -Cent Sales Tax (Safety) (d) 0.05% $17 <br />Estimated Sales Taxes at Buildout <br />Total Units 86 <br />Taxable Sales with the City $3,202,296 <br />City Portion of Sales Tax $32,023 <br />Measure X $48,034 <br />Half -Cent Sales Tax (Safety) $1,454 <br />Footnote: <br />(a) Estimate 30 year mortgage rate based on Bankrate.com. <br />(b) Per the U.S. Bureau of Labor Statistics, Western Information Office, Consumer Expenditures for <br />the Los Angeles Area - 2021-22. Assumes 50% of the 13.2% spent on food is taxable. <br />(c) Per Page 24 of the City Operating Budget <br />(d) The City receives 9.08% of the Half -Cent Sales Tax (Safety) based on the 2024-25 Adopted <br />Budget. <br />i� ZIMMERMAN GROUP <br />