Town homes: To Grow or Not To Grow is No Longer the Question
This is what the units look like.
This is what the town homes will mean to the community.
The builder has valued the project at $700,000 when complete. Mayor Heith Caudle discussed ways that the revenue from the project will affect West Fork financially.
“The appraised value of the property when we sold it was $30,000,” Caudle said. “For a property tax comparison, based on the 5 mils the City receives from property taxes, the property tax potential to the City was $30 per year before development and will be $700 per year after development. The school is in an even better situation with their millage rate of 41.6. They previously were receiving $250 per year, but with the property upgrades the school should receive an estimated $5,824 per year from property taxes alone.
“In addition, the City will benefit from the installation of eight water and sewer taps. Initial installation will be $12,000 in revenue with an expected yearly revenue for services of $9,600,” Mayor Caudle explained.
Mayor Caudle notes that the townhomes are a new housing option in West Fork, and hopes that we will continue to see development diversity. “In the past we seem to have had only duplexes or ‘ranch style’ single family homes.”
There is not a truly effective way to estimate the sales tax but “with the potential of eight new families in West Fork, we will surely see some additional sales tax revenues,” Mayor Caudle said.
The townhomes are only one part of the total development at this location along Centennial. It is likely the city will have two additional water and sewer services and the potential for an additional family at the newly-renovated horse barn and apartment.
For more information about these town homes, contact Blue Dog Realty and Property Management.
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