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State Match Credit Variables <br /> 1. BOECKH Index - currently$101.27 (March 2000). <br /> 2. State Match Percentage - percentage of State matcn funds that the District expects to <br /> receive. For new construction and additions, the District is currently eligible to receive a <br /> maximum state match of 41.50% of eligible costs (as defined by the State). <br /> Tax Credit Variables <br /> A credit is granted to new development to account for future payments which will be paid or are <br /> reasonably anticipated to be paid to the District. The credit is calculated using a "present value" <br /> formula. <br /> 1. Interest Rate (20-Year General Obligation Bond) - interest rate of return on a 20-year General <br /> Obligation Bond and is derived from the Bond Buyer index. As of March 23, 2000 the <br /> current interest rate is 5.76%. <br /> 2. Levy Rate - current bond levy rate is $2.20 per$1,000 in assessed value. <br /> 3. Average Assessed Value - based on estimates made by the County's Planning and <br /> Development Services Department utilizing information from the Assessor's files. The <br /> current average assessed value is $187,959 for single family dwelling units; $45,933 for <br /> one-bedroom multi-family dwelling units; and $65,892 for two or more bedroom multi-family <br /> dwelling units. <br /> Proposed Mukilteo School District Impact Fee Schedule <br /> Using the variables and formula described, impact fees proposed for the District are summarized <br /> in Table 13. See also Appendix D. <br /> Table 13 - School Impact Fees <br /> Impact Fee <br /> Housing Type Per Unit <br /> Single Family $ 3,718 <br /> Multi-Family(1 Bedroom) $ - <br /> Multi-Family(2+Bedroom) $ 2,864 <br /> - 22 - <br />