CLASS A PROPERTY – Commercial
All properties in whole or in part devoted to commercial uses shall constitute Class A property and shall be assessed at a rate anticipated to be not more than $21 per individual property linear front foot (FF) plus not more than $0.23 per commercial square foot (CSF)
Rate 1 = 50% of the budget
Total Class A linear FF
Rate 2 = 50% of the budget
Total Class A commercial square footage
Individual Assessment = Rate 1 x Individual Property FF + Rate 2 x Individual Property CSF
Corner commercial properties will be assessed an additional $100 per year. The minimum assessment for Class A properties is $700 per year.
CLASS B PROPERTY – Residential
All properties devoted in whole to residential uses will be assessed at one dollar ($1.00) per year.
CLASS C PROPERTY – Vacant Lots
All vacant unused properties be assessed at one dollar ($1.00) per year.
CLASS D PROPERTY – Government & Not-for-Profit
Government and not-for-profit property devoted to public or not-for-profit use shall be exempt from district assessment.
CLASS E PROPERTY – Parking Facilities
All properties used solely as parking lots or garages will be assessed a flat fee based as follows: There will be a flat fee of $150
If you have a question about a particular property within the proposed district, please feel free to email us at info@parkslope7avebid.com.