11.07.2014 Views

Agenda - City of Santa Monica

Agenda - City of Santa Monica

Agenda - City of Santa Monica

SHOW MORE
SHOW LESS

You also want an ePaper? Increase the reach of your titles

YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.

APPENDIX C - TABLE 2<br />

ANNUAL GENERAL FUND REVENUES<br />

PROPOSED PROJECT<br />

1320 SECOND STREET<br />

SANTA MONICA, CALIFORNIA<br />

I. Property Tax Revenue<br />

Assessed Value $20,909,000<br />

Property Tax Rate 1.00%<br />

Total Property Tax Revenue $209,090<br />

<strong>City</strong> Share <strong>of</strong> Property Tax Revenue 14.00%<br />

<strong>City</strong> Property Tax Revenue $29,273<br />

II.<br />

Motor Vehicle License In-Lieu Fee Revenue<br />

FY 2012-2013 MVLF Revenue $7,565,006<br />

Percent <strong>of</strong> Assessed Value 0.081%<br />

Motor Vehicle License In-Lieu Fee Revenue $6,139<br />

III.<br />

Sales Tax Revenue<br />

A. Aggregate Resident Sales Tax Revenue<br />

Taxable Sales $11,295 /Unit<br />

Number <strong>of</strong> Occupied Housing Units 50<br />

Taxable Sales $564,775<br />

Sales Tax Rate (Includes Measure Y Increase) 1.25%<br />

Aggregate Resident Sales Tax Revenue $7,060<br />

B. Commercial Sales Tax Revenue<br />

Taxable Sales $1,761,015<br />

Sales Tax Rate (Includes Measure Y Increase) 1.25%<br />

Commercial Sales Tax Revenue $22,013<br />

Total Sales Tax Revenue $29,072<br />

IV. Business License Revenue<br />

A. Residential Business License Tax Revenue<br />

Residential Gross Income $1,450,300<br />

Residential Rate $1.25 Per $1,000 <strong>of</strong> gross receipts<br />

Residential Business License Tax Revenue $1,813<br />

B. Commercial Business License Tax Revenue<br />

Commercial Gross Receipts $2,201,269<br />

Pr<strong>of</strong>essional Services Rate $1.25 Per $1,000 <strong>of</strong> gross receipts<br />

Commercial Business License Tax Revenue $2,752<br />

Total Business License Revenue $4,564<br />

V. Utility Tax Revenue<br />

Residential Utilities $200 /Month $120,000<br />

Commercial Utilities $2.00 /SF 11,740<br />

Total Utilities $131,740<br />

Utility User Tax Rate 10%<br />

Utility Tax Revenue $13,174<br />

VI. Miscellaneous Revenues<br />

Vehicle License Fees $2.79 Per Capita $209<br />

Other Fees $226 /EDU 13,081<br />

Total Miscellaneous Revenues $13,291<br />

VII. Total Annual Revenues $95,513<br />

Prepared by: Keyser Marston Associates, Inc.<br />

Filename: 1320 2nd Street_4 23 13; FIA Dev Aff; trb

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!