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Assessed Valuation of Redevelopment Area*

The redevelopment area defined in this Redevelopment Plan has a current 2008 fair market value of $ 520,804,370 and an assessed (40%) value of $ 208,321,748 that is taxable, according to Augusta-Richmond County tax records. The last few years of assessments show that the tax base of the proposed redevelopment area has not contributed to the overall growth of the county for decades. In fact, property values within the proposed TAD declined during the last few years while the overall county assessments increased in value. Pursuant to the Redevelopment Powers Law, upon adoption of the Redevelopment Plan and the creation of the tax allocation district, the Augusta-Richmond County Commission will request that the Commissioner of Revenue of the State of Georgia certify the tax base for 2008, the base year for the tax allocation district. Once this Redevelopment Plan and Augusta TAD are approved and the financing of public improvements is implemented via pay-as-you-go or the issuance of tax allocation bonds, this area is expected to stimulate private investment that will expand the tax base. In addition, the redevelopment proposed is intended to create an environment that encourages additional new development in the district - a spillover effect - leading to an overall increase in property values that further improves revenue generation within the City and County.

Tax Allocation Increment Base Value*

On or before December 30, 2008, the Augusta-Richmond County Commission will apply to the Georgia State Revenue Commissioner for a determination of the tax allocation increment base of the proposed tax allocation district. The base assessed value is estimated as follows:
Augusta Tax Allocation District Parcel Information, 2008 (Amended 11/2013)

Total Number of Parcels (Taxable) Total Area (Taxable)

7,630 Approximately 4645 acres

Total Assessed Value (40%) of Taxable Parcels in the Augusta TAD (2008) $208,321,748 Total Assessed Value of Taxable Parcels in Augusta-Richmond County (2008) $ 3,700,435,246 Value of TAD as a Percent of the City of Augusta's Total Tax Digest (2008) .0562 %

Total Property Taxes Collected to Serve as the Increment Base

Property Taxes that will serve as the base will depend on whether the property is located in the urban services district or in the suburban district and whether the School Board participates. To determine the base value, the assessed value of the taxable property will be multiplied by the applicable millage rate. For parcels located in the urban services district both the millage rate for the County Incorporated and the Augusta Urban City Service (along with the Board of Education millage rate if applicable) would be used and for the suburban district

Item # 2
Another Tool Helping to Build One Augusta

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