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04
City of Pleasanton
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CITY CLERK
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2008
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062608
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04
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6/20/2008 3:20:06 PM
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6/20/2008 3:20:05 PM
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CITY CLERK
CITY CLERK - TYPE
STAFF REPORTS
DOCUMENT DATE
6/26/2008
DESTRUCT DATE
15 Y
DOCUMENT NO
04
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Annual Operating Revenues <br />Table 2 provides general formulas for determining a development's fiscal impact on the <br />City's annual revenues and expenditures: <br />Table 2 <br />Fiscal Assumptions: <br />Property Tax: 1% of market value at completion; increased b 2% per year <br /> Pleasanton's share of total tax 25.4% <br /> <br />Sales and Use Tax 1 % of gross sales is local sales tax and in Alameda County cities <br /> receive 95% of the 1 % sales tax rate. <br /> For 2007/08FY the sales tax per capita in Pleasanton is $292.39. <br /> <br />Government Services/Expenditures Estimated at $1 per square foot of developed property. <br /> <br />Table 3 presents the annual operating revenues and expenditures based on the three types <br />of housing units, assuming approximately 224 homes are relocated from the hillside to <br />other areas of the City: <br />Table 3 <br />(Based on 224 Homes being relocated to other areas of the Cit <br />y) <br /> Multifamily Single Family Hillside Homes <br />Revenues <br />Property Tax $ 128,016.00 $ 696,976.00 $ 1,934,464.00 <br />Sales Tax $ 130,990.72 $ 196,486.08 $ 209,585.15 <br />Total Annual Revenues $ 259,006.72 $ 893,462.08 $ 2,144,049.15 <br />Expenditures <br />Total Annual Expenditures $ 201,600.00 $ 784,000.00 $ 1,904,000.00 <br />Net Additional Revenues $ 57,406.72 $ 109,462.08 $ 240,049.15 <br />Maximum Reduction $ 240,049.15 <br />$ 57,406.72 <br />$ 182,642.43 <br />Minimum Reduction $ 240,049.15 <br />$ 109,462.08 <br />$ 130,587.07 <br />Based on the analysis in Table 3, the reduction in annual net revenues from relocating <br />224 homes from the hillside to other areas of the City ranges from $183,000 per year <br />(based on 100% of the homes being multifamily) to $131,000 (based on 100% of the <br />homes being single family). <br />29 <br />
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