Page 64 - CityofMansfieldFY23Budget

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
2023 77,040 1,188 3.50 4,157 81,197
2024 81,197 550 3.50 1,925 83,122
2025 83,122 900 3.50 3,150 86,272

2026 86,272 940 3.50 3,290 89,562

2027 89,562 970 3.50 3,396 92,958

2028 92,958 1,010 3.50 3,535 96,493
2029 96,493 1,045 3.50 3,658 100,151

2030 100,151 1,090 3.50 3,815 103,966

2031 103,966 1,125 3.50 3,938 107,903
2032 107,903 1,175 3.50 4,111 112,014

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 $0.68
and reflects a 12% Homestead Exemption.

Tax Estimated New New Ad Valoreum *Annual
Year Residential Units Commercial Residential Tax Total

2023 1,188 56,019,775 514,070,291 3,876,612 3,876,612
2024 550 56,019,775 245,135,385 2,047,855 2,047,855

2025 900 56,019,775 413,165,610 3,190,461 3,190,461
2026 940 56,019,775 444,474,018 3,403,358 3,403,358
2027 970 56,019,775 472,418,712 3,593,382 3,593,382

2028 1,010 56,019,775 506,656,602 3,826,199 3,826,199

2029 1,045 56,019,775 539,941,050 4,052,534 4,052,534

2030 1,090 56,019,775 580,087,863 4,325,532 4,325,532
2031 1,125 56,019,775 616,676,288 4,574,333 4,574,333

2032 1,175 56,019,775 663,406,540 4,892,099 4,892,099
*Includes TIRZ Value

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