25LINKBUDGET(FULL) - Flipbook - Page 48
City of Plymouth 2024 / 2025 Budget
City Tax Base Analysis
2023
2024
(A)
(B)
(C)
(D)
(E)
(F)
SEV
TAXABLE
VALUE
TAXABLE
VALUE
----- TAXABLE ----LOSSES
ADJ
ADDNS
Residential Real Property
559,883,645
(1,713,754)
34,534,417
9,598,755
797,594,600
601,986,908
Commercial Real Property
123,514,858
(542,593)
5,585,878
563,000
163,626,400
129,294,691
667,141
93,200
25,202,500
23,585,241
10,254,955
986,423,500
754,866,840
2,913,100
23,334,500
23,334,500
TOTAL TAX BASE
Industrial Real Property
Total Real Property
Total Personal Property
Total Ad Valorem Tax Base
22,836,093
0
706,234,596
(2,256,347)
40,787,436
22,882,800
(1,193,700)
(1,267,700)
729,117,396
(3,450,047)
39,519,736
13,168,055
1,009,758,000
778,201,340
0
0
0
0
39,519,736
13,168,055
1,009,758,000
778,201,340
Total Abatement Tax Base**
0
GRAND TOTAL TAX BASE
729,117,396
0
(3,450,047)
TOTAL DDA TAX BASE
Residential Real Property
11,048,225
907,395
1,388,400
17,146,800
13,344,020
Commercial Real Property
39,666,102
(21,654)
1,737,461
14,900
56,784,600
41,396,809
Personal Property
18,616,800
(356,100)
(1,096,600)
1,333,200
18,497,300
18,497,300
(10,249,470)
(10,249,470)
DDA Base Value
0
(10,249,470)
Total DDA Capture
59,081,657
(377,754)
1,548,256
2,736,500
82,179,230
62,988,659
0
660,700
85,800
20,957,000
19,427,227
1,454,400
0
72,720
0
1,539,400
1,527,120
0
0
0
0
0
TOTAL BROWNFIELD TAX BASE
Residential Real Property
Comml/Industl Real Property
18,680,727
Personal Property
BROWNFIELD Base Values
Total Brownfield Capture
NET TOTAL TAX BASE
(289,498)
19,845,629
650,190,110
(289,498)
0
(3,072,293)
0
(289,498)
733,420
85,800
22,206,902
20,664,849
37,238,060
10,345,755
905,371,868
694,547,832
** IFT Taxable Value and SEV are the taxbases subject to tax abatement. They are shown as one-half of the actual values in order to
simplify the millage rate analysis, since the tax abatement process levies one-half of the normal millage rate.
ON THE BASIS OF THE ABOVE, ONE MILL PRODUCES THE FOLLOWING TAX REVENUE:
2023
GROSS PER MILL
LESS: DDA/BROWNFIELD CAPTURE
2024
$729,117
$778,201
$78,927
$83,654
NET PER MILL
$650,190
$694,548
BUDGET PER MILL (99%)
$643,688
$687,602
Column (A):
Column (B):
Column (C):
Column (D):
Column (E):
Column (F):
The 2023 TAXABLE VALUE after the Board of Review adjustments.
The 2024 lost TAXABLE VALUE from demolitions and reclassifications.
The 2024 TAXABLE VALUE changes resulting from market value adjustments of property.
The 2024 new TAXABLE VALUE from additions, new construction and reclassifications.
The 2024 SEV reflecting market value of all property after new, loss and adjustments.
The 2024 TAXABLE VALUE after new, loss and adjustments.
25BINTRO-11-CTBA.xlsx
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