Page 61 - City of Mansfield FY22 Operarting Budget

GENERAL FUND ASSUMPTIONS

Revenues

Table 1

Table 1 estimates the amount of residential construction and corresponding increase in the
population based on an assumed multiplier.

Estimated Estimated Estimated Estimated Estimated
Year Population Units Multiplier Added Population Population
2022 76,000 800 3.50 2,800 78,800
2023 78,800 800 3.50 2,800 81,600
2024 81,600 800 3.50 2,800 84,400
2025 84,400 800 3.50 2,800 87,200
2026 87,200 800 3.50 2,800 90,000

2027 90,000 800 3.50 2,800 92,800
2028 92,800 800 3.50 2,800 95,600
2029 95,600 800 3.50 2,800 98,400

2030 98,400 800 3.50 2,800 101,200
2031 101,200 800 3.50 2,800 104,000

Ad Valorem Tax Assumptions

Table 2

Table 2 estimates the estimated value of new construction of a single-family residential dwelling
and the corresponding property value. The tax rate assumption for Ad Valorem Taxes is $0.69
and reflects a 10% Homestead Exemption.

Tax Estimated New New Ad Valoreum *Annual
Year Residential Units Commercial Residential Tax Total
2022 800 56,019,775 336,093,120 2,705,579 2,705,579
2023 800 56,019,775 346,175,280 2,775,146 2,775,146
2024 800 56,019,775 356,560,560 2,846,804 2,846,804
2025 800 56,019,775 367,258,320 2,920,619 2,920,619
2026 800 56,019,775 378,275,760 2,996,639 2,996,639
2027 800 56,019,775 389,623,680 3,074,940 3,074,940

2028 800 56,019,775 401,312,160 3,155,590 3,155,590
2029 800 56,019,775 413,352,000 3,238,665 3,238,665
2030 800 56,019,775 425,752,560 3,324,229 3,324,229
2031 800 56,019,775 438,525,360 3,412,361 3,412,361

*Includes TIRZ Value

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