Laserfiche WebLink
State Match Credit Variables <br />1. BOECKH Index - currently $154.22 for new construction projects approved in July of <br />2006. <br />2. State Match Percentage - percentage of State match 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 48.24% 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 that 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 <br />General Obligation Bond and is derived from the Bond Buyer index. As of April 11, 2006 <br />the current interest rate is 4.56%. <br />2. Lev. -current bond levy rate is $1.80 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 $280,871 for single family dwelling units; $86,354 for <br />one -bedroom multi -family dwelling units; and $126,902 for two or more bedroom <br />multi -family 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 $ 3738 <br />Multi -Family (1 Bedroom) $ 114 <br />Multi -Family (2+ Bedroom) $ 2661 <br />22 <br />