Charter School $30,000,000
Transportation $7,000,000
Total $37,000,000
Sewer $12,394,741
Water $25,113,243
Treatment Plan $21,189,973
Total $58,697,957
Tier 1 Funding $37,000,000
Tier 2 Funding $58,697,957
Total $95,697,957
Improvement Area Revenue Allocation
Improvement Area
No.
Initial Fiscal Year
Revenue Stream
Percentage of
Total Revenue
Improvement
Area No.
Initial Fiscal Year
Revenue Stream
Percentage of Total
Revenue
Improvement Area
No.
Initial Fiscal Year
Revenue Stream
Percentage
of Total
Revenue
1 $782,442 25% 1 $1,089,758 25% 1 $1,396,145 24%
2 $690,142 22% 2 $979,496 22% 2 $1,268,849 22%
3 $671,252 21% 3 $948,019 21% 3 $1,223,969 21%
4 $1,007,332 32% 4 $1,416,484 32% 4 $1,824,347 32%
Total $3,151,168 100% Total $4,433,756 100% Total $5,713,311 100%
1.60% ETR 1.70% ETR1.50% ETR
Maximum Funding
Maximum Funding
Tier 1 Funding
Tier 2 Funding
Maximum Total Funding
Funding Scenarios bases on Effective Tax Rates
Improvement Area Charter School Transportation Total S ewer Water Treatment Plan Total Total Project Fund 1 $7,449,067 $1,738,116 $9,187,183 $786,042 $786,042 $786,042 $2,358,126 $11,545,309 2 $6,570,347 $1,533,081 $8,103,429 $665,028 $665,028 $665,028 $1,995,084 $10,098,513 3 $6,390,506 $1,491,118 $7,881,623 $641,790 $641,790 $641,790 $1,925,371 $9,806,994 4 $9,590,080 $2,237,685 $11,827,765 $1,075,320 $1,075,320 $1,075,320 $3,225,961 $15,053,726 Total $30,000,000 $7,000,000 $37,000,000 $3,168,181 $3,168,181 $3,168,181 $9,504,542 $46,504,542 Improvement Area Charter School Transportation Total Sewer Water Treatment Plan Total Total Project Fund 1 $7,373,597 $1,720,506 $9,094,103 $2,417,281 $2,417,281 $2,417,281 $7,251,844 $16,345,947 2 $6,627,535 $1,546,425 $8,173,959 $2,151,876 $2,151,876 $2,151,876 $6,455,628 $14,629,587 3 $6,414,551 $1,496,729 $7,911,280 $2,072,715 $2,072,715 $2,072,715 $6,218,146 $14,129,426 4 $9,584,317 $2,236,341 $11,820,657 $3,211,935 $3,211,935 $3,211,935 $9,635,805 $21,456,463 Total $30,000,000 $7,000,000 $37,000,000 $9,853,808 $9,853,808 $9,853,808 $29,561,423 $66,561,423 Improvement Area Charter School Transportation Total Sewer Water Treatment Plan Total Total Project Fund 1 $7,331,014 $1,710,570 $9,041,584 $4,033,604 $4,033,604 $4,033,604 $12,100,813 $21,142,397 2 $6,662,596 $1,554,606 $8,217,202 $3,641,648 $3,641,648 $3,641,648 $10,924,945 $19,142,147 3 $6,426,936 $1,499,618 $7,926,554 $3,508,599 $3,508,599 $3,508,599 $10,525,797 $18,452,351 4 $9,579,454 $2,235,206 $11,814,659 $5,337,593 $5,337,593 $5,337,593 $16,012,779 $27,827,438 Total $30,000,000 $7,000,000 $37,000,000 $16,521,444 $16,521,444 $16,521,444 $49,564,333 $86,564,333 Total Funding Summary
Funded Unfunded Funded Unfunded Funded Unfunded
Tier 1 Funding $37,000,000 $37,000,000 $0 $37,000,000 $0 $37,000,000 $0 Tier 2 Funding $58,697,957 $9,504,542 $49,193,415 $29,561,423 $29,136,534 $49,564,333 $9,133,624 Total $95,697,957 $46,504,542 $49,193,415 $66,561,423 $29,136,534 $86,564,333 $9,133,624 Tier 1 Tier 2
Funding based on Project Fund with 1.50% Effective Tax Rate Funding based on Project Fund
with 1.50% Effective Tax Rate
Funding based on Project Fund
with 1.60% Effective Tax Rate
Funding based on Project Fund with
1.70% Effective Tax Rate
Funding based on Project Fund with 1.60% Effective Tax Rate Tier 1 Tier 2
Funding based on Project Fund with 1.70% Effective Tax Rate Tier 1 Tier 2
Maximum Total Funding
Land Use and Property Tax Assumptions
Special Tax Class Total
Unit Type
(a)
R-1 Low R-1 Low-Medium R-1 Medium R-1 Medium
Cluster R-2 R-3
For Sale
R-3
For Rent
R-4
Student
R-4
Market
Town Center
Mixed Use NA
Unit Type SFD SFD SFD SFD SFD/Cluster SFA SFA SFA SFA Mixed Home Square Footage (a) 3,250 2,750 2,000 1,750 1,600 1,400 1,050 850 975 775 2,017 EDU 1.00 0.84 0.69 0.68 0.58 0.52 0.50 0.47 0.50 0.39 0.67 Unit Mix (a) 156 358 703 81 509 244 288 939 624 162 4,064 Estimated Current Home Price (a) 698,750$ 587,813 $ 480,940 $ 477,192 $ 408,512 $ 365,316 $ 350,000 $ 325,000 $ 350,000 $ 275,000 $ 409,003$ Property Tax Information
Ad Valorem Property Taxes (1.04960%) (b) $ 7,334 $ 6,170 $ 5,048 $ 5,009 $ 4,288 $ 3,834 $ 3,674 $ 3,411 $ 3,674 $ 2,886 $ 4,293 Other Fixed Charges (City) (c) $ 1,045 $ 1,045 $ 1,045 $ 1,045 $ 1,045 $ 653 $ 653 $ 1,307 $ 653 653$ $ 915 Proposed MCOE CFD $ 2,100 $ 1,600 $ 1,120 $ 1,100 $ 790 $ 990 $ - $ - $ 920 $ 585 $ 760 Estimated Total Taxes $ 10,479 $ 8,815 $ 7,213 $ 7,154 $ 6,123 $ 5,478 $ 4,327 $ 4,718 $ 5,247 $ 4,125 $ 5,968 Estimated Total Tax Rates 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 1.24% 1.45% 1.50% 1.50% 1.50% Developed Special Tax Revenues
Total Special Tax Revenues 327,600 $ 572,800 $ 787,360 $ 89,100 $ 402,110$ 241,560 $ -$ - $ 574,080$ 94,770 $ 3,089,380$ Net Taxable Acres TBD
Minimum Net Taxable Acreage TBD
Undeveloped Tax Rate per Acre TBD
Notes:
(a) Provided by Peck Planning and Development, LLC on 4/1/25 (b) Provided by Peck Planning and Development, LLC on 4/1/25 (c) UCP Village 1 and 2 Specific Plan - Landscape and Lighting Districts - Table 8
MERCED COUNTY OFFICE OF EDCUATION
Virginia Smith Trust
Special Tax Analyses
Summary for Fiscal Year 2025-26
FRA Project No. 21186
Special Tax Analysis 4924-8569-4257 v.23.xlsx Page 3 of 3